Azure Spot VM 2682% price increased ?!

Question

I'm looking to setup a Basic_A1 virtual machine and am seeing weird discrepancies with the pricing.

The standard pricing is $18.75/mo for this instance.

When I convert it to a spot instance, the price displayed drops down to $0.00416/hr (or $2.9952/mo)

However, when you check the current price in the price history, the actual current price is $0.11160/hr($80.352/mo)! In other words, the price increase by 2682.69%!

Given the pay-as-you-go for an SLA guaranteed instance is $18.75/mo, why is the price $61.602/mo higher then a better product?

Shouldn't spot instances be capped as the pay-as-you-go prices? What is going on with the pricing here?

Trying to create a VM fails, because I capped my price/hr, so I obviously don't randomly get billed a massive increase like this.

Looking at the previous prices, it was $0.00434/hr($3.1248/mo) on Jan 31st 2021, and raised to $0.1116/hr($80.352/mo) on Feb 28th 2021. That's a 2571% price increase over 28 days, which is a 91% price increase per day. This is insane for a VM that only has 1 vcpu and 1.75GiB of memory.

Answer 1

@Zack

Apologies in delayed response.

There is a bug identified on this, as the prices cannot be more than the PAYG. Team is working on fixing this.

Hope this helps.

Answer 2

@Zack we are sorry for the bug which is fixed now.

Answer 3

Thanks, prices going above PAYG didn't make any sense. Hopefully this didn't bankrupt many people lol.