What Is the MSFT Perpetual on BloFin? USDT Microsoft Futures

Shares of the largest US companies can now be traded as contracts on crypto exchanges, listed in the same futures menu as Bitcoin and Ether. If your savings already sit in a stablecoin, you can follow a household-name stock from that balance, with no brokerage account to open and no dollars to wire first.

That convenience hides a lot of detail. On screen you see a well-known ticker whose price keeps updating after New York goes to bed, while the outcome of a trade depends on terms the chart never displays. Those terms set where the price comes from, what an open position costs to keep, how large a move closes it automatically, and at what hours you may add to it.

A perpetual future is the kind of contract that carries those terms. It has no expiry date, it takes its price from an index, and a small payment between buyers and sellers every few hours keeps it near that index. The exchange publishes each rule on the contract's own pages, which makes them worth an hour of reading before a first order.

Microsoft's contract on BloFin is the MSFTUSDT Perpetual, the exchange's market for trading Microsoft's share price. Its terms decide what you actually hold when you trade Microsoft there, and what each of those numbers on the contract page means for your position.

What is the MSFT perpetual on BloFin?

The MSFT perpetual on BloFin, MSFTUSDT, is a futures contract margined in USDT that never expires and follows Microsoft's share price through a price index. One contract equals 0.01 MSFT, and leverage runs from 1x to 20x depending on the size of the position (source: BloFin MSFTUSDT market data).

Margined in USDT means the dollar-pegged stablecoin is the unit for the whole trade: your margin, each gain or loss, each fee and each funding payment. BloFin also classes it as a linear contract, which is the same idea seen from the other side, because each 1 USDT move in Microsoft's price changes a 1 MSFT position by exactly 1 USDT. A long position that gains shows up as a larger USDT balance, and a loss as a smaller one.

BloFin lists those terms on the contract page, along with order caps, the insurance fund and a limit on how far an order's price may sit from the index (source: BloFin MSFTUSDT contract details). If you want the company first, what Microsoft stock is explains the business behind the MSFT ticker and how its shares trade on Nasdaq.

What an MSFT perpetual position gives you

An MSFT perpetual position gives you Microsoft's price movement and none of the rights that come with owning the stock. BloFin treats its stock futures as derivatives, not securities. Holding one puts no Microsoft share in your name and brings no dividend or vote.

BloFin's stock futures notice is explicit about it. A contract gives you no direct or beneficial ownership of Microsoft stock, of a token that tracks it or of the price index. The contract also leaves out interest, votes and anything a company hands its holders in a split, a spin-off or a rights offering (source: BloFin stock futures notice). The same notice warns that no government or institution backs, insures or guarantees these contracts.

The dividend is the right a Microsoft holder is most likely to miss. Microsoft pays a quarterly dividend of $0.98 per share (source: Microsoft dividend information). Say you hold 10 MSFT of exposure through the perpetual for a full quarter: a shareholder with 10 shares would collect $9.80, while your contract pays you nothing for that quarter.

Your margin and any profit are USDT balances in your BloFin account, which makes your claim a claim on BloFin, the exchange that runs the contract. A shareholder's name, or a broker's, sits on Microsoft's register instead, and who owns Microsoft stock explains how that register is made up. If you plan to hold for years, holding the perpetual instead of shares compares what each costs over time.

How the MSFT perpetual follows Microsoft's price

The MSFT perpetual gets its price from an index, which BloFin calculates from Microsoft quotes supplied by outside data vendors. When those quotes stop arriving, the index holds its latest value (source: BloFin MSFTUSDT listing notice). BloFin keeps both the traded price and the mark price close to the index, and that link is how the contract follows the stock.

BloFin's broader notice on stock futures adds that their prices rest on a group of tokenized-stock indices that already trade elsewhere (source: BloFin stock futures notice). Because tokenized shares keep quoting while Nasdaq is shut, the index can keep moving overnight and at weekends.

The trading screen shows three prices at once. The mark price and last price are the two beginners confuse most often, and the table shows all three on a Monday morning, hours before Nasdaq opened.

All three sat within 0.35 USDT of each other that morning (source: BloFin MSFTUSDT market data). Liquidation follows the mark price, so a single stray trade that pushes the last price around for a moment does not close a position by itself.

A useful test of any stock contract is how close it sits to the stock when the stock's own market closes. Nasdaq's regular session ends at 4PM ET, which during US daylight time is 8PM UTC. The perpetual's price at that moment sat close to Microsoft's official close on three days in October 2026 (source: Stock Analysis).

On each of those days the contract ended the session a fraction of a percent above the share. That is close tracking for a contract priced in a stablecoin. The live index, mark and last prices update on the MSFTUSDT Perpetual trading page, where you can watch the three move together before deciding on an order.

MSFT perpetual contract specifications

BloFin opened the MSFT perpetual for trading at 2PM UTC on April 20, 2026, when its maximum leverage was 10x, and the cap is now 20x. Each contract is 0.01 MSFT, prices move in steps of 0.01 USDT, and one order can carry at most 2,000 MSFT as a limit order or 200 MSFT at market.

On launch day BloFin set the size of a contract, its price step and an 8-hour funding cycle. It also tied the contract to the price of Microsoft's US-listed common stock (source: BloFin MSFTUSDT listing notice). Of the headline terms, only maximum leverage has moved since.

Because a contract covers a hundredth of a share, the numbers stay small. At the 527.62 USDT mark price, one contract is worth about 5.28 USDT, and one price step moves its value by 0.0001 USDT.

Order prices are fenced in as well. BloFin refuses a buy priced more than roughly 3% over the index and a sell priced more than roughly 3% under it. After a contract's first ten minutes, the limit also shifts with how far trades have run from the index over the last two minutes. It never moves outside that 3% band (source: BloFin MSFTUSDT contract details).

Highest buy price = index × 1.03, and lowest sell price = index × 0.97.

With the index at 527.27 USDT, a buy order could be priced no higher than about 543.09 USDT and a sell order no lower than about 511.45 USDT. A sell order typed at 500 USDT by mistake would be refused, rather than filling far below the market.

If you plan to hold for weeks, one line on the contract page deserves attention. BloFin may change these settings as the market changes, and it does not promise a separate notice when it does (source: BloFin MSFTUSDT contract details). Planned and completed changes to contract settings are posted in BloFin's public parameter log (source: BloFin parameter adjustments). Treat the contract page as the rulebook on the day you place an order, because a cap or a tier you read last month may have moved.

Margin tiers, liquidation and the insurance fund

How much leverage you get on the MSFT perpetual depends on how big the position is. Up to 200 MSFT you can use 20x, with 2.50% of the position's value held as maintenance margin (source: BloFin MSFTUSDT position tiers). Larger positions drop through seven more tiers to 1x. At 20x, a price move of roughly 2.5% against you triggers liquidation.

Maintenance margin is the minimum your position's margin may fall to, set as a share of the position's value. To pick your tier, BloFin adds up what you already hold, any orders still waiting and the order you are about to send (source: BloFin MSFTUSDT position tiers).

In BloFin's terms, a position is liquidated once its margin rate reaches 100%. With isolated margin, that rate sets what the position holds, its margin plus any open profit, against what it must keep, which is its maintenance margin plus the closing fee (source: BloFin liquidation price FAQ). Turned around to give a price, the rule for one isolated long reads as follows.

Liquidation price of an isolated long = (margin − MSFT amount × entry price) ÷ (MSFT amount × (maintenance rate + closing fee − 1)).

The short version swaps the minus signs for plus signs. Say you open a 1 MSFT position at the 527.62 USDT mark price, in isolated margin, inside tier 1, with the 0.06% regular taker fee as the closing fee (source: BloFin fee schedule). Each leverage level would be liquidated at these prices.

Microsoft's share price fell about 2.2% in a single session as recently as October 22, 2026 (source: Stock Analysis), which is close to the whole cushion of a 20x long. Leverage and liquidation explains the general mechanics, and sizing an MSFT position turns these distances into a choice of size.

A liquidation can sometimes close below a position's bankruptcy price, the point where its margin is fully used up. The shortfall is then paid from the contract's insurance fund, which holds 5,619.28 USDT (source: BloFin MSFTUSDT contract details). BloFin seeds the fund itself and tops it up with whatever margin is left after other liquidations, and the MSFT contract's pool is kept apart from every other perpetual's. Should the pool run short, or lose 30% of its high point in under eight hours, BloFin turns to auto-deleveraging (ADL). That step closes profitable opposing positions at the mark price, ranked so the ones with the biggest gains for their margin go first (source: BloFin auto-deleveraging FAQ).

Funding, fees and trading hours

An open MSFT perpetual position pays or receives funding three times a day, at 12AM, 8AM and 4PM UTC. Each trade pays a fee, at regular rates 0.06% when your order fills at once and 0.02% when it rests in the book first (source: BloFin fee schedule). Outside US market hours BloFin may restrict the contract to orders that shrink positions.

Funding moves money between the two sides of the market, from longs to shorts while the rate is above zero and from shorts to longs while it is below. Across the 50 settlements from October 10 to the morning of October 26, 2026, the MSFTUSDT rate ranged from −0.0029% to +0.0493% (source: BloFin MSFTUSDT funding history). The MSFT perpetual funding rate page shows how BloFin arrives at each rate and adds up a month of payments.

Trading fees are charged on the full value of what you trade, whatever your leverage. Opening a 10 MSFT position worth 5,276.20 USDT with a market order costs about 3.17 USDT at 0.06%, while a limit order that waits in the book before filling costs about 1.06 USDT at 0.02%. BloFin's fee structure works through the same sum on a larger order and explains how higher-volume accounts pay less.

Hours are where a stock contract parts company with a crypto one. Prices update 24 hours a day, yet whenever Wall Street is shut (weekday evenings and nights, Saturdays, Sundays and US market holidays) BloFin may switch the contract to reduce-only. In that mode you may close a position or make it smaller, while opening one or adding to it has to wait (source: BloFin stock futures notice). MSFT perpetual trading hours gives the regular window in UTC on both sides of the November 1, 2026 clock change, with the holidays and early closes.

Liquidity of the MSFT perpetual

Open interest on the MSFT perpetual, the size of all positions still open, was 1,572.15 MSFT at the same Monday-morning reading, about 829,500 USDT at the mark price. Weekday volume ran near 415 MSFT a day in the week of October 19, and most of it traded during US market hours.

Volume follows Wall Street's week. From Monday, October 19 to Friday, October 23, 2026, traders swapped between 381.90 and 435.13 MSFT a day, an average of about 415.5 MSFT. Saturday, October 24 saw 166.15 MSFT and Sunday, October 25 saw 154.44 MSFT, well under half a weekday's figure (source: BloFin MSFTUSDT market data).

The hourly figures show the same pattern within each day. Over those five weekdays, 53.1% of the volume traded in the seven hours from 1PM to 8PM UTC. That window covers the whole of Nasdaq's 1.30PM to 8PM UTC session (source: BloFin stock futures notice), so the contract is busiest while Microsoft's own shares are trading on Nasdaq.

For a single order, depth in the order book matters more than a day's volume. At the same 9AM UTC reading, on a Monday morning before Nasdaq opened, the best offer to sell was 527.49 USDT and the best bid 527.48 USDT, a gap of one price step. A market buy of 200 MSFT, the largest market order the contract allows, would have filled across 39 price levels up to 527.89 USDT. Its average fill would have been about 527.71 USDT, roughly 0.04% above the best offer.

At beginner sizes that cost almost disappears, since a 1 MSFT buy sent at market then would have been filled entirely at 527.49 USDT. Market depth shows how to read the order book before you send something bigger, and how a thin book raises the price of the same trade.

The MSFT perpetual and Microsoft's October 28 report

Microsoft scheduled its next quarterly results for October 28, 2026, covering the first quarter of fiscal 2027, the months of July to September 2026. The last report night shows how the contract's terms behave around results: on July 29, 2026, the perpetual rose 8.9% within three hours of Nasdaq's close, in hours when BloFin may block new positions.

Microsoft's investor relations page gives the date of that release (source: Microsoft Investor Relations). Its previous results, for the fourth quarter of fiscal 2026, came out on July 29, 2026, with the conference call at 5.30PM ET (source: Microsoft fourth-quarter release).

BloFin's hourly prices for that evening show what a report does to the contract. At 8PM UTC, when Nasdaq closed, the MSFT perpetual stood at 392.24 USDT. The call began at 9.30PM UTC. In the hour from 10PM UTC the contract traded as high as 427.15 USDT, a rise of about 8.9% (source: BloFin MSFTUSDT market data). Volume on the UTC day of July 29 was 1,231.92 MSFT, about twice the 621.87 MSFT average of the five weekdays before it.

Set that move against the liquidation prices for a short. A short opened at 392.24 USDT would have been liquidated near 401.57 USDT at 20x and near 420.69 USDT at 10x, both well inside the evening's rise. That rise came entirely after 8PM UTC, in the hours when BloFin may hold the contract to reduce-only orders. A trader with a losing short could count on being able to close it, but not on opening a fresh position before Nasdaq reopened. A 5x short needed a 17.0% rise and survived the evening, but the next day's rally took the mark price to 459.01 USDT during Nasdaq hours, past its 458.94 USDT liquidation level.

One evening predicts nothing about the next report, but it shows which contract terms matter most on a results night: leverage, the reduce-only window and the mark price that drives liquidation. Reading Microsoft's earnings explains what the report contains, and BloFin's Microsoft Q1 FY2027 earnings preview sets out what the company guided for this quarter.

How the MSFT perpetual compares with Microsoft futures and a CFD

The MSFT perpetual differs from the Microsoft futures listed by CME Group, the Chicago-based futures exchange operator, and from a Microsoft contract for difference (CFD) in expiry, size and holding cost. CME's contracts cover 100 shares, or 10 for the Micro, and end every quarter. The perpetual covers 0.01 MSFT, never expires and charges or pays funding.

CME Group announced on June 30, 2026 that it would launch single-stock futures on more than 50 US stocks on July 27 (source: CME Group press release). CME's line-up includes Microsoft. The standard Microsoft contract, code SMSFT, covers 100 shares and settles in cash. CME lists the next two quarterly months, and each expires with a last trade at 4PM ET on that month's third Friday (source: CME Group Microsoft futures specs). The Micro Microsoft future, code XMSFT, covers 10 shares on the same schedule (source: CME Group Micro Microsoft specs).

A contract for difference works another way. The UK's Financial Conduct Authority says CFD providers make over-the-counter contracts and sell them straight to investors. It singles out the overnight funding charge as a heavy running cost for anyone keeping a CFD open for long (source: Financial Conduct Authority).

A dated future builds its holding cost into its price, and that difference from the share shrinks to nothing at expiry. A perpetual never reaches that day, so funding is what keeps it near its index. BloFin's lesson on perpetual and dated futures goes deeper into the trade-off. For a crypto holder the practical difference is access. A CME contract needs a futures broker and dollars, and the smallest CME Microsoft contract still covers 10 shares, while the perpetual starts at a hundredth of one share, margined in USDT.

Ways to use the MSFT perpetual

Traders use the MSFT perpetual to take a long or short view on Microsoft's price from a USDT balance, with leverage they choose. Some use it to offset a fall in Microsoft shares held elsewhere, or to trade around the company's results. The same contract terms apply to every one of those uses.

A long position is the plain case: it gains when Microsoft's price rises and loses when it falls. Selling the contract is as easy as buying it, so the same terms carry a view that the price will drop. Shorting Microsoft on BloFin sets out that trade, including how funding works for the short side.

If you already own Microsoft shares at a broker, a short on the perpetual can offset part of a fall without selling them. Hedging with the MSFT perpetual covers how large that short should be and what it costs to hold.

The MSFTUSDT Perpetual is also on BloFin's list of contracts open to copy trading. For a first order of your own, trading Microsoft on BloFin goes step by step from deposit to closing the position.

Looking to trade Microsoft's price with the perpetual? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and go to the MSFTUSDT Perpetual trading page.

Frequently asked questions

What happens to the MSFT perpetual if Microsoft splits its stock?

A split would be handled by a notice written for that event. BloFin says it will publish one whenever a stock split or reverse split, a merger, or a spinoff could move the price of the stock behind one of its contracts (source: BloFin MSFTUSDT listing notice). Microsoft's ninth and most recent split took effect on February 18, 2003 (source: Microsoft dividend information). Should a tenth ever be announced, check BloFin's notice before keeping a position open across the split date.

Can you trade the MSFT perpetual from any country?

Where you live decides it. BloFin does not offer its stock futures in some countries, and each user must make sure their trading follows local law (source: BloFin stock futures notice). The trading page also asks every visitor to confirm they are outside BloFin's restricted regions and not hiding their location behind a VPN. Read BloFin's terms for your own country first, then fund the account.

What is the smallest MSFT perpetual order?

One contract, the smallest order, needs about 5.28 USDT of margin at 1x and about 0.26 USDT at 20x at a mark price of 527.62 USDT, before fees (source: BloFin MSFTUSDT contract details). A position that small lets you watch funding and price moves at work before you size up.

Is the MSFT perpetual connected to Microsoft or Nasdaq?

BloFin's stock contracts have no tie to the company that issued the shares or to the exchange that lists them, and neither one backs or endorses them (source: BloFin stock futures notice). Microsoft and Nasdaq play no part in MSFTUSDT. The contract lives only on BloFin, whose rules set its price index, its funding and its trading hours, with the index fed by quotes from outside data vendors.

Can you buy tokenized Microsoft stock on BloFin?

BloFin's spot market does not carry a tokenized Microsoft share, which leaves the MSFTUSDT Perpetual as its Microsoft market, a contract on the share price that you trade from a USDT balance. You never hold a token or a share through it. Buying Microsoft stock with crypto compares each route, from a brokerage share to the perpetual.

Researched and written by the BloFin Academy editorial team with AI-assisted drafting. All facts independently verified. Primary sources include BloFin's MSFTUSDT contract details, position tiers, funding history and market data. They also include its MSFTUSDT listing notice of April 20, 2026, its stock futures notice of April 21, 2026, its parameter log, fee schedule and help pages on liquidation price and auto-deleveraging. Outside BloFin, they include Microsoft's investor pages and its July 29, 2026 results release, CME Group's Microsoft futures specs and June 30, 2026 press release, the Financial Conduct Authority's CFD review and Stock Analysis price history, current as of October 26, 2026.

Nothing in this article constitutes financial advice, and nothing in it is a recommendation to buy, sell or hold Microsoft in any form. The MSFTUSDT Perpetual uses leverage, so a move of about 2.5% against a 20x position can liquidate it, and on the July 29, 2026 report night the contract rose 8.9% within three hours of Nasdaq's close. Funding is charged or paid every eight hours, the contract pays no dividend, and outside US trading hours BloFin may accept only orders that reduce a position. Past performance does not indicate future results. Do your own research and consider your risk tolerance before you trade on BloFin.