diff --git a/freqtrade/plugins/pairlist/MarketCapFilter.py b/freqtrade/plugins/pairlist/MarketCapFilter.py
index b9b9eb067..663eac0e3 100644
--- a/freqtrade/plugins/pairlist/MarketCapFilter.py
+++ b/freqtrade/plugins/pairlist/MarketCapFilter.py
@@ -174,8 +174,10 @@ class MarketCapFilter(IPairList):
                                     f"within top {self._limit} market cap")
 
             else:
+                market = self._config['trading_mode']
+                pair_format = f"{self._stake_currency.upper()}" if (market == 'spot') else f"{self._stake_currency.upper()}:{self._stake_currency.upper()}"
                 for mc_pair in marketcap_list:
-                    test_pair = f"{mc_pair.upper()}/{self._stake_currency.upper()}"
+                    test_pair = f"{mc_pair.upper()}/{pair_format}"
                     if test_pair in pairlist:
                         filtered_pairlist.append(test_pair)
                         if len(filtered_pairlist) == self._limit: