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Market Microstructure Calculator Guide

How to use Data-Vendor TCO Calculator

Given a universe-size bucket, bar resolution, live-data requirement, and asset-class filters, the tool computes annual cost across six vendors and ranks them cheapest-first, dimming tiers that do not meet your requirements.

By AI Fin Hub Research · AI Fin Hub Team
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Data-Vendor TCO Calculator

Compute annual cost of market data across Databento, Polygon, Alpaca, Tiingo, FMP, and Alpha Vantage for your exact universe, bar resolution, and real-time needs.

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What It Does

Use the calculator with intent

Given a universe-size bucket, bar resolution, live-data requirement, and asset-class filters, the tool computes annual cost across six vendors and ranks them cheapest-first, dimming tiers that do not meet your requirements.

Engineers and PMs sizing a data subscription before signing the contract — especially when one vendor's flat-rate looks cheaper until usage breaks the tier boundary.

Interpreting Results

Headline number is the annual cost for the cheapest tier that fits your declared requirements. Dimmed rows do not qualify given your current filters. Databento's figure is a modeled estimate; all flat-tier vendor figures reflect published list prices at the lastChecked date.

Input Steps

Field by field

  1. 1

    Set universe size

    Pick the universe-size bucket that matches your symbol count: Small (≤50), Medium (~500), Large (~2,000), or All US equities (~10,000). The tool uses coarse buckets, not a free-form number.

  2. 2

    Set resolution and live flag

    Select bar resolution (daily, 1-minute, 1-second, tick, or L2) and whether you need real-time data. Vendors without the selected resolution or without a live tier are dimmed.

  3. 3

    Apply asset-class filters

    Toggle Options or Futures if required. No vendor currently carries both in a single tier — enabling both returns no qualifying results.

  4. 4

    Read the ranked table

    Fitting vendors are sorted cheapest-first. Databento shows a modeled estimate calibrated to typical retail spend (see methodology), not a metered invoice — treat it as a rough planning figure.

  5. 5

    Check assumptions

    Verify the vendor's pricing page before committing. Each vendor row shows a lastChecked date; pricing reflects that snapshot and is refreshed when a vendor announces a material change.

Common Scenarios

Use realistic starting points

US equities, daily bars, full coverage

Universe size

Large (~2,000)

Resolution

daily

Real-time

no

Alpaca free and Tiingo Starter cluster near $0–$120/yr. Polygon and Databento land higher but include intraday access on their base tiers.

Equities intraday — rank flip between Databento and Polygon

Universe size

Small (≤50) vs Medium (~500)

Resolution

1-minute

Real-time

no

At the Small bucket Databento (~$25/mo) undercuts Polygon Starter ($29/mo). At Medium the rank flips — Databento's modeled spend (~$125/mo) exceeds Polygon's flat $29. Change the universe bucket to see the crossover.

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FAQ

Questions people ask next

The short answers readers usually want after the first pass.

Pricing is refreshed when a vendor announces a material change, not on a fixed calendar cadence. Each vendor row carries a lastChecked date reflecting the most recent verification. Check the vendor pricing page directly before committing.

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