I've found that that generally leads to problems, so I prefer to have the feature that is going to be merged last be responsible for fitting in with the rest. That way, as described earlier, I don't have to wait for features that can't be merged now to merge the ones that can.
How do you know which feature will be merged last? In the teams I've worked in previously, everything happened in parallel. You had no way of knowing what feature was going to be merged when. So, essentially, we completed a feature-branch, tested it, and merged it into develop. Then, at set intervals, we did some heavy testing on develop and fixed any outstanding bugs, before creating a release by merging to master.
