The rate of a $500 Xbox Live gift card today can vary depending on several factors. One of the main aspects is the current market demand and supply dynamics. If there is a high demand for such gift cards, perhaps due to the popularity of Xbox Live services and upcoming game releases, the rate might be affected.

In some cases, the rate could be directly tied to the exchange rate in the general currency market. Fluctuations in the value of the currency used to purchase the gift card can impact its effective rate. For example, if the local currency weakens against the currency associated with the Xbox Live gift card's region, it might seem like the rate has changed in terms of the amount one needs to pay.

Moreover, different platforms or sellers might offer slightly different rates for the $500 Xbox Live gift card. Some might have promotional offers or discounts that can alter the perceived rate. It's essential for consumers to compare various options to get the best deal and understand the true rate they are getting for their money when purchasing this particular gift card today.