The differences between spot silver and futures silver mainly include:

1. Futures is a contract that must be performed in the future, and the delivery time must be determined; Futures contracts have an expiration date and cannot be held indefinitely; Silver can be held indefinitely.

2. Domestic futures are regional markets; Silver is an international market.

3. From the trading time, futures trading is fixed for 10 hours and spot silver for 22 hours.

4. Market makers are different from exchanges: futures trading is generally concentrated in futures exchanges; Spot silver is a market maker mechanism.

5. Futures is the price formed by centralized bidding of all traders in the exchange: the price of spot silver is quoted by the silver market maker.

6. In terms of whether the trading object is specific, the trading object of futures is not specific, and any investor who makes reverse trading instructions on the exchange may be its trading object; Spot silver is traded with a fixed silver market maker.