Instead, “eyeing” is the correct and formal spelling of the present participle of the verb “to eye.” In some instances, it could be shortened to “eying,” but this can lead to mispronunciation and should be avoided.

Is eying spelled or eyeing?

According to two dictionaries, both are correct. The Cambridge Learner's Dictionary says that eying is American.

What type of word is eyeing?

Eyeing is a verb - Word Type.