GHPI: GPU Hourly Price Index

Version 1.0 · Issue GHPI-2026-10 · Updated: 2026-10-31 18:45

One-liner: GHPI is a public price index representing the hourly rental cost of one GPU card, benchmarked to the H100 80GB, with base period = 100, calculated usingChained matching methodMethodology — New platform listings are not counted as price reductions; GPU model out-of-stock events are not counted as price increases. Current lowest in-stock price for H100 80GB across the market. ¥8.28 / GPU·hour, index 100.00（2026-10-31）。

Benchmark GPU

H100 80GB

Pay-as-you-go, in-stock, per-GPU-hour price

Sample

29 providers

28 GPU models · 34-day series

License

CC BY 4.0

Attribution required; commercial use permitted

Current index

Index	Market’s lowest in-stock price ¥/GPU·hour	Index (baseline = 100)	Daily Change	Days Since Base Period	Number of in-stock quote pairs
GHPI-H100	8.28	100.00	+0.00%	+0.00%	10
GHPI-CN	5.15	100.00	+0.00%	+0.00%	7
GHPI-Domestic	1.96	100.00	—	+0.00%	1

Two distinct metrics—don’t conflate them：「市场最低In架价」是当日全Sample实测最低值，会随新Platform进入而下降；「Index」才是可比ofpriceChange指标，用Chained matching method剔除Coverage expansionand缺货影响。

Data Quality (including excluded items)

Successfully Captured

144

Total quoted prices currently in-stock this round

Participating Platforms

Passed scope filtering

Meeting index scope criteria

96 / 144

Excluded 48 listings failing scope criteria

Exclusion Details:stale(expired) 7 listings · suspect(abnormal volatility) 0 listings · seed（无公开价目页of人工登记Reference Price）2 entries · 非Pay-as-you-go或缺货 39 entries。PlatformCoverage 22/29 platforms successfully scraped in this round.
⚠️ The “sample validity rate” here refers toIndex Scope(calculated based on pay-as-you-go + in-stock + real-time) — differs from the site’s /sources 公示of「Real-time crawl success rate 93.8%」不是同A指标 —— 后者只判断是否本轮抓到，不额外Requirements「Pay-as-you-go」and「In架」。两个数都公开，避免误读。

Methodology (reproducible)

sample	Scraped every 45 minutes from platforms’ public pricing pages / public APIs; daily value is the last round of that day
filter	Only pay-as-you-go (ondemand) + in-stock (available) quotes; excludes stale / suspect (expired or questionable) and seed (manually entered reference prices without public pricing pages)—consistent with the site’s lowest-price ranking methodology
normalization	Full-system price ÷ GPU count normalized to per-GPU-hour price
currency	CNY, exchange rate: 1 USD = 7.2 CNY
unit_observation	(Platform, GPU model) price pairs; for multiple listings of the same platform and GPU model, only the lowest price is retained
index_method	Chained matching method (matched-model chained): For two consecutive days, only quote pairs present on both days are retained; daily price ratios are computed for each pair and their median is taken; daily medians are then chained via multiplication; base period = 100
why_chained	① When a new platform launches, it lowers the ‘lowest price across all platforms’, but without proper matching, this coverage expansion may be misread as a price drop (real-world test: Paperspace’s integration on 2026-10-20 caused a 48.9% phantom decline); ② If grouped by GPU model family, a single stockout event gets permanently locked in via chain-linking (real-world test: GHPI-CN was inflated to 140.4 due to this). Switching to quote-pair units eliminates both issues.
min_base_pairs	Baseline period requires ≥5 quote pairs; when new series lack sufficient samples, baseline is set to the actual maximum across the full series, with base_pairs disclosed for reader assessment of reliability
min_match_pairs	If the intersection between two consecutive days contains fewer than 3 matched quote pairs, no day-on-day comparison is calculated for that day; the index value is carried forward.
caveat	Listed price ≠ transaction price—always refer to the platform’s order page; index tracks basket price changes, not average transaction price

Index definition: Let U denote the set of in-stock quote pairs on day t_t（per个报价对 = Platform × GPU model）， C = U_t ∩ U_t-1 为两日都In架of报价对，则 GHPI_t = GHPI_t-1 × median_k∈C( p_t,k / p_t-1,k )，基period日 GHPI = 100。Index下降 = 同一批报价变便宜。

Two pitfalls to avoid(All verified through real-world testing):
① Coverage expansion：新Platform接入会拉低「全PlatformLowest Price」。实测 2026-10-20 Paperspace (United States)接入， H100 lowest price ¥16.2 → ¥8.28，若不做匹配会算出「21 day跌 48.9%」of假信号 —— 那不是市场降价，是我们多接了一家便宜Platform。
② Stock-out contamination：若以「GPU model组」为统计单元，某张便宜卡缺货会让整组Lowest Price跳变，而链式法会Replace这time跳变永久固化。实测 GHPI-CN 曾因此被一time性抬到 140.4 再也回不去。改用 (Platform, GPU model) 报价对作为单元后，缺货只是剔除那A报价对，不污染整体。

Citation：
Chinese GPU Compute Radar (backed by Chainfir Capital). GHPI: GPU Hourly Price Index [EB/OL]. 2026-10-31. https://rentgpu.link/ghpi
English GPU Price Radar (Invested in by Chainfir Capital). GHPI: GPU Hourly Price Index [EB/OL]. 2026-10-31. https://rentgpu.link/ghpi

Daily Index (Permanent URL)

Date	H100 lowest price ¥	Lowest price on Chinese platforms ¥	Lowest price on domestic GPUs ¥	GHPI-H100 Index
2026-10-31	8.28	5.15	1.96	100.00
2026-10-30	8.28	5.15	—	100.00
2026-10-29	8.28	5.15	—	100.00
2026-10-28	8.28	5.15	—	100.00
2026-10-27	8.28	5.15	—	100.00
2026-10-26	8.28	5.15	—	100.00
2026-10-25	8.28	5.15	—	100.00
2026-10-24	8.28	5.15	—	100.00
2026-10-23	8.28	5.15	—	100.00
2026-10-22	8.28	5.15	—	100.00
2026-10-21	8.28	5.15	—	100.00
2026-10-20	8.28	5.15	—	100.00
2026-10-19	18.00	5.15	—	100.00
2026-10-18	18.00	5.15	—	100.00
2026-10-17	18.00	5.15	—	100.00
2026-10-16	18.00	5.15	—	100.00
2026-10-15	18.00	5.15	—	100.00
2026-10-14	18.00	5.15	—	100.00
2026-10-13	18.00	5.15	—	100.00
2026-10-12	—	5.15	—	—
2026-10-11	—	5.15	—	—
2026-10-10	—	5.15	—	—
2026-10-09	—	5.15	—	—
2026-10-08	—	5.15	—	—
2026-10-07	—	5.15	—	—
2026-10-06	—	5.15	—	—
2026-10-05	—	5.15	—	—
2026-10-04	—	5.15	—	—
2026-10-03	—	5.15	—	—
2026-10-02	—	5.15	—	—
2026-10-01	—	5.15	—	—
2026-09-30	—	5.15	—	—
2026-09-29	—	5.15	—	—
2026-09-28	—	6.98	—	—

This site has received Chainfir Capital 投资（Invested in by Chainfir Capital），由专职团队运营，不是个人站点。Prices are scraped from each platform’s public pricing page.Prices on the order page apply；已排除 seed / stale / suspect item目。 OpenData见 /data。