mugaliens said:
I'm familiar with either that or a similar, Florida-inhabiting species. It's exoskeleton appears to be cracked.
Mhh, it doesn't seem cracked to me. Looks pretty regular. Intact. Besides, this would be a somewhat unusual part for a crack to occur. Still you're perfectly right in pointing to the fact that this kind of pulsation is not normally seen in this, or in fact in any other spider species. Therefore I propose the following solution to the "mystery". As this really is quite a handsome
Gasteracantha cancriformis female, I'd say it's that handsome not least because it's just gotten a nice new "costume". In other words, I think, not too long before the video was shot, this spider must've molted. Now, when a spider (or, indeed, any arthropod) molts, it sheds its old exoskeleton, or cuticle, and thereby unveils the new one which has grown just beneath the old one. But when this happens, the substance (mostly chitin) of the new cuticle is not at once fully solidified. It slowly hardens, and gets firm again, once being exposed to the air, though that takes a while. Until then it's fairly smooth (and not a good protection at all). This, in all probability, is what explains why here we can actually sneak a peek at those vital functions going on just beneath the abdominal exoskeleton, which, in these stages, is and behaves rather like a
skin.
Ivan Seeking said:
Still, there is nothing directly indicating that we are seeing a heart beat.
It, really, is its "heartbeat".

Though a spider's heart is more like a mere main artery, or a simple (yet thicker, and muscular in order to contract) continuation of the aorta, if you like. It's a channel, or tube, with tiny slits in its sides, which can be shut by valves, called ostia. They're open when the "heart" relaxes, so blood can practically be sucked in -- mainly not out of vessels, but just out of the surrounding tissue. After that, the tube will contract, thus closing the ostia (or pores), keeping the blood in, constraining it and then pressing it forward. So it's essentially a channel-valve-system and not so unlike our own hearts, yet.. different. What we witness in the video, obviously, are simply these very contractions of the central hemocoel. That is, well, the spider's "pulse", or heartbeat...