MSFT perps: where to trade Microsoft perpetual futures
13 tracked venues list MSFT perps.
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The cheapest place to trade MSFT perps right now is trade.xyz (xyz:MSFT): 2.02 bps all-in for a $10,000 market buy at the standard taker fee, measured 11:12 UTC on 2026-10-03.
The next two venues are Extended 4.19 bps and Lighter 4.41 bps. 9 of 13 MSFT markets gave a measured cost.
Promo rate for eligible accounts: MEXC (MSFTSTOCK_USDT) shows 0.10 bps at a 0.000% taker fee that only some accounts get (MEXC: stock futures listing notice, checked 2026-09-25). MEXC does not state the MSFT fee for other accounts, so this cost is not ranked.
MSFT perps list on 13 tracked venues: 6 centralized exchanges, 1 Hyperliquid HIP-3 deployment, 6 other decentralized venues. Avantis (MSFT/USD), Gains Network (MSFT/USD) and Ostium (MSFT/USD) fill at an oracle price, with no public MSFT book to measure.
Maximum MSFT leverage runs from 5x on Avantis (MSFT/USD) to 100x on MEXC (MSFTSTOCK_USDT).
Measured MSFT cost for a $10,000 buy
- trade.xyz2.02
- Extended4.19
- Lighter4.41
- Binance5.02
- Bybit6.36
- Bitget8.37
- Aster8.45
- OKX9.27
- Gate10.80
MSFT funding and open interest
Funding now runs from 0.0% a year on Aster to 5.5% on trade.xyz, across 10 MSFT markets. A positive rate means that longs pay shorts.
10 MSFT markets report open interest, $76.0 million in total. trade.xyz holds 27% of it ($20.2 million).
Where to trade Microsoft perpetual futures
| Venue | Market | Max leverage | Funding now | Annual rate now | 7-day mean, annual | Open interest | Book cost (bps) | Taker fee | All-in (bps) | Promo rate, eligible accounts |
|---|---|---|---|---|---|---|---|---|---|---|
| trade.xyz | xyz:MSFT | 20x | +0.0006% / 1 h | +5.5% | +4.0% | $20.2M | 1.12 | 0.0090% (API, live) | 2.02 | — |
| Extended | MSFT_24_5-USD | 16.7x | 0.0000% / 1 h | 0.0% | — | $472K | 3.19 | 0.010% (docs) | 4.19 | — |
| Lighter | MSFT | 20x | +0.0004% / 1 h | +3.5% | — | $1.3M | 4.41 | 0.000% (API) | 4.41 | — |
| Binance | MSFTUSDT | 20x | 0.0000% / 8 h | 0.0% | +4.2% | $17.5M | 1.02 | 0.040% (docs, promotion for all accounts) | 5.02 | — |
| Bybit | MSFTUSDT | 100x | 0.0000% / 8 h | 0.0% | −0.5% | $9.4M | 3.61 | 0.028% (docs, promotion for all accounts) | 6.36 | — |
| Bitget | MSFTUSDT | 100x | 0.0000% / 8 h | 0.0% | +2.2% | $3.9M | 2.37 | 0.060% (API) | 8.37 | — |
| Aster | MSFTUSDT | 20x | 0.0000% / 8 h | 0.0% | +2.3% | $174K | 7.20 | 0.013% (docs) | 8.45 | — |
| OKX | MSFT-USDT-SWAP | 20x | 0.0000% / 8 h | 0.0% | 0.0% | $3.6M | 4.27 | 0.050% (docs) | 9.27 | — |
| Gate | MSFT_USDT | 100x | 0.0000% / 8 h | 0.0% | 0.0% | $1.7M | 3.30 | 0.075% (API) | 10.80 | — |
| MEXC | MSFTSTOCK_USDT | 100x | 0.0000% / 8 h | 0.0% | +4.1% | $17.9M | 0.10 | Not stated for all accounts | — | 0.000% = 0.10 bps (eligible accounts, source, 2026-09-25) |
| Avantis | MSFT/USD | 5x | — | — | — | — | No MSFT book | Oracle model | — | — |
| Gains Network | MSFT/USD | 5x | — | — | — | — | No MSFT book | Oracle model | — | — |
| Ostium | MSFT/USD | — | — | — | — | — | No MSFT book | Oracle model | — | — |
Method: a $10,000 MSFT market buy fills against each public MSFT book.
The MSFT book cost is that fill price against the mid, in bps. The MSFT all-in cost adds the standard taker fee that every new account gets.
A MSFT promo rate that only eligible accounts get is shown in its own column and is never ranked.
A MSFT book price does not prove that the venue accepts MSFT orders at that time, so check the MSFT hours table.
Annual MSFT funding is the rate per hour times 8,760, with no compounding. The MSFT markets come from venue APIs read on 2026-09-25.
MSFT trading hours and price source by venue
| Venue | Market | Hours | Price source |
|---|---|---|---|
| Aster | MSFTUSDT | 24/7, 5% band off-hours | Several, with Pyth |
| Avantis | MSFT/USD | 23/5 or 9:30–16:00 ET | Pyth Pro, Chainlink |
| Binance | MSFTUSDT | 24/7, book EWMA weekends | Unnamed data vendors |
| Bitget | MSFTUSDT | 24/7, book EMA off-hours | Pyth, dxFeed, Massive, Intrinio |
| Bybit | MSFTUSDT | 24/7 | Index with Pyth |
| Extended | MSFT_24_5-USD | Per market in API | Stork, Blue Ocean ATS |
| Gains Network | MSFT/USD | Mon–Fri 9:35–16:00 ET | Chainlink |
| Gate | MSFT_USDT | Index holds last close | Paid feeds, crypto venues |
| Lighter | MSFT | 24/7 | Pyth Pro (NVDA, TSLA) |
| MEXC | MSFTSTOCK_USDT | Varies, no trades closed | Not named in docs |
| OKX | MSFT-USDT-SWAP | 24/7 book, anchored weekends | Several providers |
| Ostium | MSFT/USD | Mon–Fri 9:30–16:00 ET | Own feed, Stork nodes |
| trade.xyz | xyz:MSFT | 24/7, bounded off-hours | Relayer, Blue Ocean ATS |
Find your liquidation price with the liquidation price calculator for MSFT. Compare all tickers on the stock perps hub. Read how trade.xyz lists MSFT on Hyperliquid.
Where to Trade Microsoft (MSFT) Perpetual Futures
Fees and leverage limits apply venue-wide; check MSFT terms with the venue.
Microsoft (MSFT) market overview
Microsoft is a global technology leader powering cloud computing through Azure and embedding AI into enterprise software via its OpenAI partnership. MSFT stock perps on decentralized exchanges offer leveraged exposure to the enterprise AI adoption cycle, a narrative that runs parallel to crypto AI token momentum.
Frequently Asked Questions — Microsoft (MSFT)
What open interest data is available for MSFT?
2 venues report positive MSFT open interest in this read.
The MSFT total leaves out venues outside the read.
How does a Microsoft perpetual futures contract differ from the underlying asset?
A Microsoft perpetual tracks the Microsoft price, with no expiry date and no ownership of Microsoft.
Check each venue for Microsoft trading hours and the price source.
Category: Stock