The spot price is the current price to buy or sell an asset for immediate delivery, "on the spot". It is the live, real-time figure quoted across this site's market pages, as distinct from a futures price that settles at some agreed date in the future.
A single quoted spot price is really a snapshot of the midpoint between the best bid and best ask at that instant. In a liquid market that midpoint is meaningful; in a thin one, the price you actually transact at can sit some distance from the quoted figure.
Spot prices update continuously and can move within seconds, so the number you see is a moment in time, not a fixed value. For large trades especially, the headline spot price is a starting reference rather than a promise of execution.
Worked example
When a market page shows Bitcoin at a given price, that live figure is the spot price for immediate settlement.
Related guides
This definition is general education, not investment advice. Markets — especially crypto — are volatile and you can lose money. Please read our disclaimer and see our methodology.