On 2026-09-23 the discount on a spot GPU-hour runs from 81.5% at one provider down to nothing at another. Across the 42 spot rates we can set against the same provider’s own on-demand rate for the same card, the typical discount is 50%. The deepest belongs to Microsoft Azure’s H100 SXM in eastus; the shallowest are at Nebius, which since 2026-09-22 lists two of its cards at the same figure in both columns.
That last part is new. At 14:38 UTC on 2026-09-22 Nebius rewrote both columns of its price list in one go. Its H100 SXM spot rate went from $2.15 to $3.85 per GPU-hour, a rise of 79.1%; its L40S spot rate went from $0.74 to $1.55, a rise of 109.5%. Four on-demand rates moved in the same read, by 16.9% to 21.0%. The rate card at nebius.com/prices prints those figures.
The new spot price is the old on-demand price
On every one of the six cards the arithmetic lands in the same place. Nebius listed the H100 SXM on demand at $3.85 per GPU-hour until 2026-09-22, and $3.85 is what it now asks for the same card as spot capacity. The B300 says it plainly: $7.85 was its on-demand rate before the change and is its spot rate after it, against $9.50 on demand. Where the on-demand rate did not move at all — the L40S at $1.55, the RTX PRO 6000 at $1.80 — the spot column simply came up to meet it, and the two rates are 0% apart.
What “spot” is worth depends on who is selling it
A spot rate is capacity the provider can reclaim, and the discount is what it pays a renter for accepting that. On 2026-09-23 the payment is not one number. For the H100 SXM alone we read 81.5% below on-demand at Microsoft Azure, 60.4% at CoreWeave in Europe, 50% at DataCrunch and 14.4% at Nebius. Nebius’s six cards sit between 0% and 17.4% below its own on-demand rate, the six narrowest spot discounts of the 42 pairs on the site.
Its H100 SXM spot rate is worth one more comparison. The Cloud GPU Price Index closed the week of September 21, 2026 at $3.97 per GPU-hour, the median on-demand rate card across 18 providers. At $3.85 the spot rate is below that median, but not by much — and unlike an on-demand rate it can be interrupted, which is the whole of what the discount is meant to buy.
How to check any number here
Every figure above is listed under this piece with the page it was read from and the time it was read. The ten Nebius rate changes of 2026-09-22 are on our changelog with both sides and the per cent, and each row links to the provider’s own rate card. The spot and committed discounts, with every rate pair behind them, are on the Price Index page and in price-index.json. Nothing here is modelled, forecast or estimated: these are listed rates read on the hour, and a listed rate says what a provider asks, not that the capacity is free to book.