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.)

Subtlety

Flash
Flying
When Subtlety enters, 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.

Vodalian Hexcatcher

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

Misty Rainforest

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

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.

Merfolk Trickster

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

Spirebluff Canal

Spirebluff Canal enters tapped unless you control two or fewer other lands.
{T}: Add {U} or {R}.

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.

Tide Shaper

Kicker {1} (You may pay an additional {1} as you cast this spell.)
When Tide Shaper enters, 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.

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.

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.)

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.

Steam Vents

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

Island

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}.)

Preordain

Scry 2, then draw a card. (To scry 2, look at the top two cards of your library, then put any number of them on the bottom and the rest on top in any order.)