Where can you trade a Microsoft (MSFT) perpetual, and what does it cost to hold?

01Where a Microsoft perpetual trades

A perpetual on Microsoft is a contract that follows the share price. You never receive shares and you are not a shareholder — you make or lose the difference between your entry price and your exit price, settled in USDT or USDC. If stocks on a crypto exchange are new to you, the overview of stock trading on crypto exchanges covers the idea in one page.

The route most beginners find easiest is the Perpetuals tab inside Binance Wallet: your own wallet, your own balance, margin in USDT, and stock pairs grouped under a Stock tab in the Perps list. Execution and liquidity come from Binance's partner, the Aster protocol — the screen says "Provided by Aster". The second route is Hyperliquid. The crypto markets there belong to Hyperliquid itself, but stock markets are deployed by a separate company, trade.xyz — so if a Microsoft contract is listed, that is who set its leverage and price source. Money behind the trade there is USDC, not USDT. The third route is Binance Futures, the ordinary exchange account with its stock and commodity contracts.

Volume differs between the three, and so do the contract settings: each pair card shows its own maximum leverage badge, and the funding interval sits in the contract details. The table below shows today's 24-hour turnover wherever this company is listed — for a 500 USDT trade, pick the pair with the bigger number and check the leverage badge on the same screen.

02What it costs to hold a Microsoft position

The first cost is the trading fee, charged on the size of your position each time you enter and each time you exit. In the Binance Wallet Perpetuals tab, stock and commodity contracts cost 0.0125% when you take the price that is already there — about 6 cents each way on a 500 USDT position. The maker fee is shown next to the order window; check it there. Fees on the other two venues come from their own schedules — see what futures fees you actually pay and the Hyperliquid fee breakdown.

The second cost is funding. It is paid between traders on the two sides of the market, not kept by the venue: when the rate is positive the buyers pay the sellers, and when it is negative the sellers pay the buyers, so some days you receive it instead. How funding works explains the mechanism; the table below shows what it has been costing lately per 1,000 USDT of position.

Here is how to turn a rate into money. Say you open a 500 USDT position at 5x, so 100 USDT of your own money is held as margin. If funding averaged 0.01% per settlement and settled every 8 hours, you would pay 0.05 USDT each time, about 0.15 USDT a day, roughly 1 USDT over a week and about 4.5 USDT over 30 days.

At rates in that range the holding cost on a small stock position is cents rather than dollars, and the price move decides your result. Funding is reset at every settlement, though, so a calm week and a nervous one can cost very differently — the live table above is the number to trust, not the example. Hyperliquid settles funding every hour rather than every few hours, which means the same cost arrives in smaller, more frequent slices; you can see the current hourly rate and the full market list in the Hyperliquid market table, and if you want to trade there you connect a wallet on Hyperliquid instead of registering an account.

03Leverage, weekends and earnings days: how big a position is safe

Each pair sets its own maximum leverage, and what is allowed and what is sensible are different things. At 5x, a 500 USDT position needs 100 USDT of margin, and a move of roughly 20% against you is about what it takes to burn through that margin; at 20x the same damage comes from a move of about 5%, and a surprise in Microsoft's quarterly report can easily be bigger than that. The exchange also keeps a small cushion of your margin aside, so your trade gets closed slightly before the full 20% move. The order window shows the exact price at which that happens — look at it before you confirm, and what leverage to pick for a first trade walks through choosing the number instead of guessing it.

The trading hours surprise people more than the fees do. The contract trades around the clock, weekends included, and during the hours when the US stock market is closed, so news that lands outside the main session gets priced in by whoever is trading at that moment — how stock perps behave at night and on weekends goes into detail. Before you hold a Microsoft position over an earnings date, check when the company reports and ask yourself how you would feel if the price jumped several percent in one step while you were away from your phone. The simplest protection is a stop-loss set when you open the trade, plus a size small enough that the worst case is money you can afford to lose.

04Opening a first small position step by step

1. Open the Perpetuals tab in your wallet

   In the Binance app, switch to Wallet and go to the Perps list. The wallet has to be backed up before perpetuals become available. If you have not set it up yet, open Binance Wallet and follow the backup prompts first.

2. Search for Microsoft

   Use the Stock group tab or type MSFT in the search field. If a Microsoft pair is listed, its card shows the exact pair name, the maximum leverage badge and the 24-hour volume. Some companies have two pairs with different volume — take the busier one.

3. Read the limits in the order window

   The minimum order size is shown in the order window for each pair — check it there, along with the leverage you are setting, before you decide how big your test trade will be.

4. Add a stop before you confirm

   Place your stop-loss in the same order window, not after the trade is already running. A detailed walk-through of the screen is in how to open a trade in Binance Wallet.

5. Check back after the next funding settlement

   The funding interval for this contract is in its details page. Once a settlement has passed, look at your position to see the payment as a real line in your own numbers rather than a theory.

One practical note on access. The Perpetuals tab runs on Aster's terms, which exclude residents of, and people located in, Russia, Ukraine, the USA, Canada, the United Kingdom, China, North Korea, Cuba, Iran, Venezuela and Syria. Binance Futures does not offer derivatives everywhere either, and Hyperliquid blocks some jurisdictions — check in the app, during sign-up or on the venue's own restriction page that this contract is available where you live before you plan anything around it.