Is there a difference between "spot price" and "market price"?

Question

I'm learning about buying crypto at "spot price" as buying in the price it is at "this moment right now on the spot". But isn't that the same as "market price"? If not, what's the difference?
The term spot price seems to be used while talking about buying with a loan (margin). Why is that?
https://support.kraken.com/hc/en-us/articles/203250333-Opening-a-margin-position
I'd love to hear some clarification on the use of the term "spot price" instead of simply "market price"

Flux · Accepted Answer

Is there a difference between “spot price” and “market price”?

Yes. Spot prices are market prices, but not all market prices are spot prices. Example of a market price that is not a spot price: a futures price.

I'm learning about buying crypto at "spot price" as buying in the price it is at "this moment right now on the spot"

I think you have misunderstood the meaning of "spot". It refers to the spot market, in contrast to the futures market. According to Wikipedia:

The spot market or cash market is a public financial market in which financial instruments or commodities are traded for immediate delivery. It contrasts with a futures market, in which delivery is due at a later date.

The term spot price seems to be used while talking about buying with a loan (margin). Why is that?

This is a guess:
"Spot price" is used to emphasize that the price in question is for a plain vanilla cryptocurrency as opposed to a non-spot instrument such as a cryptocurrency futures contract (which is also traded on Kraken).
"Market price" could be the price of any instrument. Both BTC (spot) and BTC futures have market prices. A spot price is a market price. A futures price is also a market price.
"Spot price" is preferred over "market price" because it is less ambiguous as to the type of instrument being discussed.

Fattie · Answer

"Spot" simply means the actual item, not a future, or option, or other derivative.
It's that simple.
("market" price is completely meaningless, all prices are market prices. It's simply a descriptive term, like saying "the current price" or "the usual price". One sense in which "market" price is used is simply the, so to speak, "raw" price without commissions or fees. Another way it is used is nothing more than the "going, current, typical" price.  "market" price has no connection, at all, to whether or not the instrument is spot, a derivative, or whatever.  It's just a descriptive term, like "good" or "fast sale" or "today's" or "going".  For example, "I sold my house for a good price", "I got better than the market price for my house", "today's price of oil futures is high", "the going rate for mortgages is 3%", "the market price for corn is X, but I sure hope we can get a bit more than that for our truckload at the Farmer's Market today", "when we sold our house we unfortunately had to sell it very quickly so we got much less than the market rate", "it's great to buy a house from a divorcing couple as you can usually get it at less than the market rate" ... etc etc.)

Is there a difference between "spot price" and "market price"?

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