Counterspell

Merfolk Trickster

Flash
When Merfolk Trickster enters, tap target creature an opponent controls. It loses all abilities until end of turn.

Svyelun of Sea and Sky

Svyelun of Sea and Sky has indestructible as long as you control at least two other Merfolk.
Whenever Svyelun attacks, draw a card.
Other Merfolk you control have ward {1}. (Whenever another Merfolk you control becomes the target of a spell or ability an opponent controls, counter it unless that player pays {1}.)

Island

Lórien Revealed

Draw three cards.
Islandcycling {1} ({1}, Discard this card: Search your library for an Island card, reveal it, put it into your hand, then shuffle.)

Master of the Pearl Trident

Other Merfolk creatures you control get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Spreading Seas

Enchant land
When Spreading Seas enters, draw a card.
Enchanted land is an Island.

Otawara, Soaring City

{T}: Add {U}.
Channel — {3}{U}, Discard Otawara, Soaring City: Return target artifact, creature, enchantment, or planeswalker to its owner's hand. This ability costs {1} less to activate for each legendary creature you control.

Vodalian Hexcatcher

Flash
Other Merfolk you control get +1/+1.
Sacrifice a Merfolk: Counter target noncreature spell unless its controller pays {1}.

Thassa, Deep-Dwelling

Indestructible
As long as your devotion to blue is less than five, Thassa isn't a creature.
At the beginning of your end step, exile up to one other target creature you control, then return that card to the battlefield under your control.
{3}{U}: Tap another target creature.

Aether Vial

At the beginning of your upkeep, you may put a charge counter on Aether Vial.
{T}: You may put a creature card with mana value equal to the number of charge counters on Aether Vial from your hand onto the battlefield.

Stern Scolding

Counter target creature spell with power or toughness 2 or less.

Minamo, School at Water's Edge

{T}: Add {U}.
{U}, {T}: Untap target legendary permanent.

Harbinger of the Tides

You may cast this card as though it had flash if you pay {2} more to cast it. (You may cast it any time you could cast an instant.)
When this creature enters, you may return target tapped creature an opponent controls to its owner's hand.

Glasspool Shore

Glasspool Shore enters tapped.
{T}: Add {U}.

Glasspool Mimic

You may have Glasspool Mimic enter as a copy of a creature you control, except it's a Shapeshifter Rogue in addition to its other types.

Glasspool Mimic // Glasspool Shore

Silvergill Adept

As an additional cost to cast this spell, reveal a Merfolk card from your hand or pay {3}.
When Silvergill Adept enters, draw a card.

Force of Negation

If it's not your turn, you may exile a blue card from your hand rather than pay this spell's mana cost.
Counter target noncreature spell. If that spell is countered this way, exile it instead of putting it into its owner's graveyard.

Lord of Atlantis

Other Merfolk get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Mutavault

{T}: Add {C}.
{1}: Mutavault becomes a 2/2 creature with all creature types until end of turn. It's still a land.