I think I figured it out now.

stefansundin · Aug 5, 2018 · 292543e · 292543e
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diff --git a/.ebextensions/00-resources.config b/.ebextensions/00-resources.config
diff --git a/.ebextensions/00-spot.config b/.ebextensions/00-spot.config
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+# https://docs.aws.amazon.com/AWSCloudFormation/latest/UserGuide/aws-properties-as-launchconfig.html
+
+Resources:
+  AWSEBAutoScalingLaunchConfiguration:
+    Type: "AWS::AutoScaling::LaunchConfiguration"
+    Properties:
+      SpotPrice:
+        "Fn::GetOptionSetting":
+          Namespace: "aws:elasticbeanstalk:application:environment"
+          OptionName: "EC2_SPOT_PRICE"
+          DefaultValue: {"Ref":"AWS::NoValue"}
diff --git a/.ebextensions/defaults.config b/.ebextensions/defaults.config
@@ -0,0 +1,10 @@
+# https://docs.aws.amazon.com/elasticbeanstalk/latest/dg/command-options.html
+# https://docs.aws.amazon.com/elasticbeanstalk/latest/dg/command-options-general.html
+
+option_settings:
+  - namespace: aws:autoscaling:launchconfiguration
+    option_name: RootVolumeType
+    value: standard
+  - namespace: aws:autoscaling:launchconfiguration
+    option_name: RootVolumeSize
+    value: 8