I'm evaluating Amazon EC2 spot instances, which seem like they will provide a good value for some of our computationally intensive but not time sensitive processes. The concept is simple enough, our instance will run for as long as desired assuming our maximum bid exceeds the current market price. I know that the instances can be terminated abruptly if the market price ever exceeds our maximum bid. I also know that Amazon only bills in even hours for instance run time and charges for a full hour the moment your instance transitions to the running state. So here's the question:
Assuming the current market price is below our maximum bid, and the spot instance requested starts, then the market price rises above the maximum bid will the spot instance be allowed to finish the hour we've already been billed for or is it possible the instance will be terminated in less time than that? Is it theoretically possible for an instance to run for just a few minutes and then be terminated?