On Cloud Spot Market: An Overview of the Research

  • Zheng LiEmail author
  • Liam O’Brien
  • Rajiv Ranjan
  • Shayne Flint
  • Albert Y. Zomaya
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 8993)


In Cloud computing, Infrastructure-as-a-Service (IaaS) can be purchased with three pricing schemes, namely reserved pricing, on-demand pricing and spot pricing. Within the spot pricing model, the spot Cloud resources usually refer to the spare compute capacity that can be auctioned in a spot market. A commercial spot market has been established since Amazon launched its spot instance service. Unlike the straightforward fixed-price schemes, the market-driven mechanism behind spot pricing is inevitably sophisticated for both Cloud consumers and providers. In addition, the de facto vendor Amazon does not disclose any backend detail except for its recent spot price history. To help practitioners better understand the spot market and help researchers identify research opportunities, we focused on Amazon’s spot service and investigated the relevant studies of the Cloud spot market. The result of our investigation has been organized and summarized into an overview of the current research, as described in this chapter.


Amazon EC2 Cloud computing Market-driven mechanism Spot market Spot pricing 



NICTA is funded by the Australian Government through the Department of Communications and the Australian Research Council through the ICT Centre of Excellence Program. NICTA is also funded and supported by the Australian Capital Territory, the New South Wales, Queensland and Victorian Governments, the Australian National University, the University of New South Wales, the University of Melbourne, the University of Queensland, the University of Sydney, Griffith University, Queensland University of Technology, Monash University and other university partners.


  1. 1.
    Abhishek, V., Kash, I.A., Key, P.: Fixed and market pricing for Cloud services. In: Proceedings of the 7th Workshop Economics of Networks System Computer (NetEcon 2012), pp. 157–162. IEEE Computer Society, Orlando, 20 March 2012Google Scholar
  2. 2.
    Amazon: Amazon EC2 spot instances, March 2014.
  3. 3.
    Ardagna, D., Panicucci, B., Passacantando, M.: Generalized Nash Equilibria for the service provisioning problem in Cloud systems. IEEE Trans. Serv. Comput. 6(4), 429–442 (2013)CrossRefGoogle Scholar
  4. 4.
    Ben-Yehuda, O.A., Ben-Yehuda, M., Schuster, A., Tsafrir, D.: Deconstructing Amazon EC2 spot instance pricing. In: Proceedings of the 3rd IEEE International Conference on Cloud Computing Technology and Science (CloudCom 2011), pp. 304–311. IEEE Computer Society, Athens, 29 November–1 December 2011Google Scholar
  5. 5.
    Chaisiri, S., Kaewpuang, R., Lee, B.S., Niyato, D.: Cost minimization for provisioning virtual servers in Amazon elastic compute Cloud. In: Proceedings of the 19th Annual IEEE International Symposium Modeling Analysis and Simulation of Computer Telecommunication System (MASCOTS 2011), pp. 85–95. IEEE Computer Society, Singapore, 25–27 July 2011Google Scholar
  6. 6.
    Chen, J., Wang, C., Zhou, B.B., Sun, L., Lee, Y.C., Zomaya, A.Y.: Tradeoffs between profit and customer satisfaction for service provisioning in the Cloud. In: Proceedings of the 20th International Symposium High Performance Distributed Computing (HPDC 2011), pp. 229–238. ACM Press, San Jose, 8–11 June 2011Google Scholar
  7. 7.
    Chohan, N., Castillo, C., Spreitzer, M., Steinder, M., Tantawi, A., Krintz, C.: See spot run: using spot instances for MapReduce workflows. In: Proceedings of the 2nd USENIX Conference on Hot Topics Cloud Computing (HotCloud 2010), pp. 1–7. USENIX Association, Boston, 22 June 2010Google Scholar
  8. 8.
    Dawoud, W., Takouna, I., Meinel, C.: Increasing spot instances reliability using dynamic scalability. In: Proceedings of the 5th IEEE International Conference on Cloud Computing (CLOUD 2012), pp. 91–98. IEEE Computer Society, Honolulu, 24–29 June 2012Google Scholar
  9. 9.
    Di Valerio, V., Cardellini, V., Lo Presti, F.: Optimal pricing and service provisioning strategies in Cloud systems: A Stackelberg game approach. In: Proceedings of the 6th IEEE International Conference on Cloud Computing (CLOUD 2013), pp. 115–122. IEEE Computer Society, Santa Clara, 28 June - 3 July 2013Google Scholar
  10. 10.
    Jangjaimon, I., Tzeng, N.F.: Effective cost reduction for elastic Clouds under spot instance pricing through adaptive checkpointing. IEEE Trans. Comput. (2013) (in press)Google Scholar
  11. 11.
    Javadi, B., Thulasiram, R.K., Buyya, R.: Statistical modeling of spot instance prices in public Cloud environments. In: Proceedings of the 4th IEEE/ACM International Conference on Utility Cloud Computing (UCC 2011), pp. 219–228. IEEE Computer Society, Melbourne, 5–7 December 2011Google Scholar
  12. 12.
    Karunakaran, S., Sundarraj, R.P.: On using prisoner dilemma model to explain bidding decision for computing resources on the Cloud. In: Proceedings of the 13th International Conference Group Decision Negotiation (GDN 2013), Stockholm, Sweden, pp. 206–215, 17–20 June 2013Google Scholar
  13. 13.
    Li, Z., Liang, M., O’Brien, L., Zhang, H.: The cloud’s cloudy moment: a systematic survey of public cloud service outage. Int. J. Cloud Comput. Serv. Sci. 2(5), 321–330 (2013)Google Scholar
  14. 14.
    Li, Z., O’Brien, L., Cai, R., Zhang, H.: Towards a taxonomy of performance evaluation of commercial Cloud services. In: Proceedings od the 5th IEEE International Conference on Cloud Computing (CLOUD 2012), pp. 344–351. IEEE Computer Society, Honolulu, 24–29 June 2012Google Scholar
  15. 15.
    Ma, D., Huang, J.: The pricing model of Cloud computing services. In: Proceedings of the 14th Annual International Conference on Electronic Commerce (ICEC 2012), pp. 263–269. ACM Press, Singapore, 6 August 2012Google Scholar
  16. 16.
    Mazzucco, M., Dumas, M.: Achieving performance and availability guarantees with spot instances. In: Proceedings of the 13th IEEE International Conference on High Performance Computing and Communications (HPCC 2011), pp. 296–303. IEEE Computer Society, Banff, 2–4 September 2011Google Scholar
  17. 17.
    Sharma, B., Thulasiram, R.K., Thulasiraman, P., Garg, S.K., Buyya, R.: Pricing Cloud compute commodities: A novel financial economic model. In: Proceedings of the 12th IEEE/ACM International Symposium Cluster Cloud Grid Computing (CCGrid 2012), pp. 451–457. IEEE Computer Society, Ottawa, 13–16 May 2012Google Scholar
  18. 18.
    Song, K., Yao, Y., Golubchik, L.: Exploring the profit-reliability trade-off in Amazons spot instance market: A better pricing mechanism. In: Proceedings of the 21st International Symposium on Quality of Service (IWQoS 2013), pp. 1–10. IEEE Press, Montreal, 3–4 June 2013Google Scholar
  19. 19.
    Song, Y., Zafer, M., Lee, K.W.: Optimal bidding in spot instance market. In: Proceedings of the 31st Annual IEEE International Conference on Computer Communications (INFOCOM 2012), pp. 190–198. IEEE Press, Orlando, 25–30 March 2012Google Scholar
  20. 20.
    Tang, S., Yuan, J., Li, X.Y.: Decision model for provisioning virtual resources in Amazon EC2. In: Proceedings of the 5th IEEE International Conference on Cloud Computing (CLOUD 2012), pp. 91–98. IEEE Computer Society, Honolulu, 24–29 June 2012Google Scholar
  21. 21.
    Tian, C., Wang, Y., Qi, F., Yin, B.: Decision model for provisioning virtual resources in Amazon EC2. In: Proceedings of the 8th International Conference on Network Service Management (CNSM 2012), pp. 159–163. International Federation for Information Processing, Las Vegas, 2–26 October 2012Google Scholar
  22. 22.
    Voorsluys, W., Buyya, R.: Reliable provisioning of spot instances for compute-intensive applications. In: Proceedings of the 26th IEEE International Conference on Advanced Information Networking (AINA 2012), pp. 542–549. IEEE Computer Society, Fukuoka, 26–29 March 2012Google Scholar
  23. 23.
    Wang, P., Qi, Y., Hui, D., Rao, L., Lin, X.: Present or future: Optimal pricing for spot instances. In: Proceedings 33rd IEEE nternational Conference on Distributed Computing Systems (ICDCS 2013), pp. 410–419. IEEE Computer Society, Philadelphia, 8–11 July 2013Google Scholar
  24. 24.
    Wee, S.: Debunking real-time pricing in Cloud computing. In: Proceedings of the 11th IEEE/ACM International Symposium on Cluster Cloud Grid Computing (CCGrid 2011), pp. 585–590. IEEE Computer Society, Newport Beach, 23–26 May 2011Google Scholar
  25. 25.
    Xu, H., Li, B.: Dynamic Cloud pricing for revenue maximization. IEEE Trans. Cloud Comput. 1(2), 158–171 (2013)CrossRefGoogle Scholar
  26. 26.
    Yi, S., Andrzejak, A., Kondo, D.: Monetary cost-aware checkpointing and migration on Amazon Cloud spot instances. IEEE Trans. Serv. Comput. 5(4), 512–524 (2012)CrossRefGoogle Scholar
  27. 27.
    Zafer, M., Song, Y., Lee, K.W.: Optimal bids for spot vms in a cloud for deadline constrained jobs. In: Proceedings of the 5th IEEE International Conference on Cloud Computing (CLOUD 2012), pp. 75–82. IEEE Computer Society, Honolulu, 24–29 June 2012Google Scholar
  28. 28.
    Zaman, S., Grosu, D.: A combinatorial auction-based mechanism for dynamic VM provisioning and allocation in Clouds. IEEE Trans. Cloud Comput. 1(2), 129–141 (2013)CrossRefGoogle Scholar
  29. 29.
    Zhang, Q., Gürses, E., Boutaba, R., Xiao, J.: Dynamic resource allocation for spot markets in Clouds. In: Proceedings of the 11th USENIX Conference Hot Topics Management Internet Cloud Enterprise Networks Service (Hot-ICE 2011), pp. 1–6. USENIX Association, Boston, 29 March 2011Google Scholar

Copyright information

© Springer International Publishing Switzerland 2015

Authors and Affiliations

  • Zheng Li
    • 1
    • 2
    Email author
  • Liam O’Brien
    • 3
  • Rajiv Ranjan
    • 2
    • 4
  • Shayne Flint
    • 2
  • Albert Y. Zomaya
    • 5
  1. 1.CRL LabNational Information and Communications Technology Australia (NICTA)CanberraAustralia
  2. 2.School of Computer ScienceAustralian National University (ANU)CanberraAustralia
  3. 3.ICT Innovation and ServicesGeoscience AustraliaSymonstonAustralia
  4. 4.CSIRO Computational InformaticsActonAustralia
  5. 5.School of Information TechnologiesThe University of SydneySydneyAustralia

Personalised recommendations