PerpEquities

Equity · Communication services

Spotify Technology S.A. (SPOT) perpetual futures

SPOT perpetual futures on 8 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade SPOTUSDT.

Spotify Technology S.A. provides audio streaming subscription services worldwide, operating Premium and Ad-Supported segments offering music, podcasts, and audiobooks.

$592.13+6.5%NYSE closed
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Collecting venue price data...
venue perp mark · Ourbit (SPOT/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

8/8 live markets
Venues
8
Live markets
8/8
24h volume
$491.5KCoverage: 7/8 marketsExchange-reported volume: $1.1M
Open interest
$1.1MCoverage: 6/8 markets
Best liquidity
$48K
Ourbit
Tightest spread
+3.4 bps
Bitget
Highest volume
$359.9K
BingX
Settlement mix
USDT · 7/8
Perp/spot vol.
0.00x
Spot volume $1.9B
OI / float
0.00%
Float $89.6B
Spot performance
1D+6.50%
5D+2.28%
1M+20.77%
6M+34.41%
YTD+2.19%
1Y-7.86%

Venue matrix

8 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
BingXTradeSPOT-USDTTrading$589.80+5.5% APR
+0.00500% every 8h
+30.9 bps$11.1K$359.9K$5.9KUSDT-
MEXCTradeSPOT/USDTTrading$591.420.0% APR
0.000% every 8h
+46.7 bps$8.5K$91.7K$632KUSDT20x
HTXTradeSPOT/USDTTrading$595.10-+146.3 bps$13.1K$31.2K-USDT-
BitgetTradeSPOT/USDTTrading$592.340.0% APR
0.000% every 8h
+3.4 bps-$5.1K$43.9KUSDT20x
BybitTradeSPOT/USDTTrading$590.000.0% APR
0.000% every 8h
+30.5 bps$8.9K$3.1K$150.3KUSDT25x
Gate.ioTradeSPOT/USDTTrading$594.000.0% APR
0.000% every 8h
+84.2 bps-$443$104.3KUSDT20x
Helix (Injective)TradeSPOT/USDCTrading$594.36+24.1% APR
+0.00275% every 1h
--$87.3-USDC12x
OurbitTradeSPOT/USDTTrading$592.130.0% APR
0.000% every 8h
+46.7 bps$48K$645.3K⚠$132.8KUSDT20x

Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

Adequate liquidity · 4 of 8 venues absorb $10k · Typical cost: +86.3 bps – +116.8 bps

Cheapest execution: Ourbit · +71.2 bps

No fresh book data: HTX, Bitget, Gate.io, Helix (Injective)

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

SPOT

Tightest spread

SPOT

Highest volume

SPOT

Funding history

Stored venue snapshots by market

Company financials

Financials at a glance

Last report Q3 '26 · filed 2026-10-22 · next report 2027-02-09 · Updated 168h ago
All financials →

Valuation & key figures

Market cap
$120.1B
Updated 168h ago
Revenue
$21.9B
Trailing 12 months
Revenue growth
+14%
Next fiscal year
Profit margin
+15.5%
P/E
35.3
Peer P/E 13.2
P/S
5.5
Peer P/E
13.2
Similar listed perps
Free cash flow
$3.6B
Trailing 12 months
Net income
$3.4B
Trailing 12 months
Revenue estimate
$22B
Next fiscal year
Earnings
2027-02-09
Revenue est. $5.9B · Updated 168h ago
Dividend
-
Revenue (TTM)€18.8B+11.3% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)14.6%+2.9 pp vs a year agoOperating income €2.74B
Net income (TTM)€2.96B+110.5% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)€3.2B+9.6% vs a year agoCapex €53M
Diluted EPS (TTM)€12.93+127.2% vs a year agoSum of the last 4 quarters
Net cash€10.7B+57.2% vs a year agoCash + short-term investments - debt
  • Revenue growth accelerating: 16.3% year on yearQ3 '26 revenue €4.97B, against an average of 9.0% over the four quarters before.
  • Operating margin 14.6% (TTM), +2.9 pp on a year agoOperating income grew 39.0% while revenue grew 11.3%.
  • 18.9% of pre-tax profit is non-operatingPre-tax income €3.38B vs operating income €2.74B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
  • Capex 0.3% of revenue (a year ago 0.3%)€53M invested in the last 4 quarters (+17.8% on a year earlier). Free cash flow €3.2B = 108.0% of net income.

Revenue, operating income and growth

quarterly
In the full financialsIncome statement, balance sheet and cash flow (12 quarters / 10 years) · margins and cost structure · capital allocation and buybacks · valuation against the 5-year range · analyst estimates

Next catalyst

Catalysts

Earnings
2027-02-09
Revenue est. $5.9B · Updated 168h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202613.42$22B+14%23
FY 202717.18$25.2B+31%23
FY 202821.70$28.6B+49%23
FY 202923.36$31.7B+65%10
FY 203024.64$34B+77%10
Q1 20273.97$5.9B+16%7

Company events

6
2027-02-09EarningsActual - / Estimate 3.69-
2026-10-22Earnings · Before market openActual 2.81 / Estimate 3.18Miss
2026-08-04EarningsActual 3.03 / Estimate 3.16Miss
2026-04-28EarningsActual 4.04 / Estimate 3.43Beat
2026-02-10EarningsActual 5.16 / Estimate 3.21Beat
2025-11-04EarningsActual 3.83 / Estimate 2.29Beat

Peer comparison

Similar listed perps

FMP company data

Company intelligence

Updated: Nov 1, 2026, 07:17 PM UTC

Company profile

Sector
Communication Services
Industry
Internet Content & Information
Chief executive
Alex Norström
Employees
7,000
IPO date
Apr 3, 2018
Country
SE
Exchange
New York Stock Exchange
Website
Altman Z-scorei12.77
Piotroski scorei8/9
FMP ratingiB+
Owner earningsi€772.13M€3.70 per share
ESG risk ratingiBIndustry rank: 18 out of 82

Rating factors

Return on equityi
5
Return on assetsi
5
Debt to equityi
4
Price to earningsi
1
Price to booki
1
Market cap history
$122.08B+22.0%Aug 26 – Oct 26
$99.41B$110.74B$122.08BLow: $99.41B · 2026-10-05Latest: $122.08B · 2026-10-30Aug 26Sep 26Oct 26
Latest: $122.08B · 2026-10-30High: $122.08B · 2026-10-30Low: $99.41B · 2026-10-05
Largest fund holders
FundWeightShares held
VWIGX2.54%2.2M
VWELX0.47%1.2M
IEFA0.35%1.1M
VWUAX1.02%944.2K
IWF0.27%594.9K
EFA0.41%526.7K
VPMAX0.16%292.1K
VONG0.23%258K
IWDA.L0.09%254.4K
EWD10.81%212.8K
EFG0.83%210.1K
IXUS0.21%201.9K

Analyst track record

How the analysts covering SPOT have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings215599
Analysts3755
Buy / hold / sell176 / 39 / 0484 / 112 / 3
Upgrades / downgrades / initiations6 / 2 / 520 / 10 / 17
Price targets hit / missed24 / 179 (12%)231 / 329 (41%)
Avg. return after a rating (TipRanks)-13.2%+9.8%
Best / worst call+39.3% / -38.1%+271.5% / -38.1%

After buy calls on this stock: median 21-day move +3.7% vs S&P 500 +2.5% (n = 490)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Mark MahaneyEvercore ISI93% hit rate on this stock · 14 targets measuredBuyno targetSep 28, 2026
  2. Jessica Reif EhrlichBank of America Securities88% hit rate on this stock · 16 targets measuredBuytarget $685Oct 22, 2026
  3. Eric SheridanGoldman Sachs88% hit rate on this stock · 8 targets measuredBuytarget $645Oct 15, 2026

Latest ratings

DateAnalystCallTarget
Oct 26, 2026Sean DiffleyMorgan StanleyBuyReiterated$700
Oct 25, 2026Ian S. MooreBernsteinBuyReiterated$725
Oct 25, 2026Ian S. MooreBernsteinBuyReiterated$725
Oct 26, 2026Helena WangPhillip SecuritiesBuyMaintained$650
Oct 23, 2026Doug CreutzTD CowenHoldReiterated$525
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$450$500$550$600$650$700$750$800Dec 25 · Buy 28 · Hold 7 · Sell 0Dec 25Jan 26 · Buy 28 · Hold 6 · Sell 0Feb 26 · Buy 28 · Hold 7 · Sell 0Feb 26Mar 26 · Buy 24 · Hold 7 · Sell 0Apr 26 · Buy 26 · Hold 6 · Sell 0Apr 26May 26 · Buy 25 · Hold 7 · Sell 0Jun 26 · Buy 23 · Hold 6 · Sell 0Jun 26Jul 26 · Buy 23 · Hold 5 · Sell 0Aug 26 · Buy 23 · Hold 5 · Sell 0Aug 26Sep 26 · Buy 22 · Hold 5 · Sell 0Oct 26 · Buy 22 · Hold 6 · Sell 0Oct 26Nov 26 · Buy 22 · Hold 6 · Sell 0Dec 25 · avg. target $781Jan 26 · avg. target $744Feb 26 · avg. target $692Mar 26 · avg. target $663Apr 26 · avg. target $617May 26 · avg. target $619Jun 26 · avg. target $609Jul 26 · avg. target $600Aug 26 · avg. target $605Sep 26 · avg. target $608Oct 26 · avg. target $634Nov 26 · avg. target $634Dec 25 · month-end close $581Jan 26 · month-end close $500Feb 26 · month-end close $515Mar 26 · month-end close $485Apr 26 · month-end close $447May 26 · month-end close $498Jun 26 · month-end close $459Jul 26 · month-end close $500Aug 26 · month-end close $544Sep 26 · month-end close $487Oct 26 · month-end close $593Nov 26 · month-end close $593

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Oct 30, 2026 · 215 ratings

Frequently asked questions

Where can I trade SPOT perpetual futures?

Spotify Technology S.A. (SPOT) perpetual futures trade on 8 crypto venues, including Ourbit, BingX, MEXC. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade SPOT around the clock?

Yes. Unlike the underlying stock, SPOT perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on SPOT perpetuals?

Right now the SPOT perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to +24.1% across 8 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the SPOT perp price compare to the Spotify Technology S.A. stock?

The venue-median SPOT perp mark is $592.2 versus a reference stock price of $592.1, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a SPOT perpetual future?

A SPOT perpetual is a derivative that tracks the price of Spotify Technology S.A. with no expiry date. It lets you take long or short exposure to Spotify Technology S.A. on crypto venues, around the clock.

What is SPOTUSDT perpetual?

SPOTUSDT is the symbol most crypto exchanges use for the Spotify Technology S.A. perpetual settled in USDT (Tether). It tracks the SPOT share price through an index, trades 24/7 with leverage and never expires.

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