Have

Vodalian Hexcatcher

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

Flooded Strand

{T}, Pay 1 life, Sacrifice Flooded Strand: Search your library for a Plains or Island card, put it onto the battlefield, then shuffle.

Getting

Chalice of the Void

Chalice of the Void enters the battlefield with X charge counters on it.
Whenever a player casts a spell with mana value equal to the number of charge counters on Chalice of the Void, counter that spell.

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.

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 the battlefield, draw a card.
Enchanted land is an Island.

Unlicensed Hearse

{T}: Exile up to two target cards from a single graveyard.
Unlicensed Hearse's power and toughness are each equal to the number of cards exiled with it.
Crew 2

Scalding Tarn

{T}, Pay 1 life, Sacrifice Scalding Tarn: Search your library for an Island or Mountain card, put it onto the battlefield, then shuffle.

Silvergill Adept

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

Cursecatcher

Sacrifice Cursecatcher: Counter target instant or sorcery spell unless its controller pays {1}.

Lord of Atlantis

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

Subtlety

Flash
Flying
When Subtlety enters the battlefield, choose up to one target creature spell or planeswalker spell. Its owner puts it on the top or bottom of their library.
Evoke—Exile a blue card from your hand.

Don't Have

Mistcaller

Sacrifice Mistcaller: Until end of turn, if a nontoken creature would enter the battlefield and it wasn't cast, exile it instead.

Steam Vents

({T}: Add {U} or {R}.)
As Steam Vents enters the battlefield, you may pay 2 life. If you don't, it enters the battlefield tapped.

Tide Shaper

Kicker {1} (You may pay an additional {1} as you cast this spell.)
When Tide Shaper enters the battlefield, if it was kicked, target land becomes an Island for as long as Tide Shaper remains on the battlefield.
Tide Shaper gets +1/+1 as long as an opponent controls an Island.

Kira, Great Glass-Spinner

Flying
Creatures you control have "Whenever this creature becomes the target of a spell or ability for the first time each turn, counter that spell or ability."

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.

Hurkyl's Recall

Return all artifacts target player owns to their hand.

Fiery Islet

{T}, Pay 1 life: Add {U} or {R}.
{1}, {T}, Sacrifice Fiery Islet: Draw a card.

Merfolk Trickster

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

Polluted Delta

{T}, Pay 1 life, Sacrifice Polluted Delta: Search your library for an Island or Swamp card, put it onto the battlefield, then shuffle.

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}.)

Blood Moon

Island

Flame of Anor

Choose one. If you control a Wizard as you cast this spell, you may choose two instead.
• Target player draws two cards.
• Destroy target artifact.
• Flame of Anor deals 5 damage to target creature.