General speculation does not require physical delivery. As mentioned above, the real physical delivery is completed by rushing to the downstream enterprises. There is a special situation, that is, the futures market price is much lower than the spot price, and it can indeed be arbitrage delivery. Of course, this is a small probability event.

Futures (English: futures) is a cross-time trading method. By signing a standardized contract, the buyer and the seller agree to deliver a specific amount of spot at a specific time, price and other trading conditions. Usually, futures are traded on futures exchanges, but some futures contracts can be traded over the counter.

Futures is a derivative tool. According to the types of spot subject matter, futures can be divided into commodity futures and financial futures. Among those who participate in futures trading, arbitrageurs (or hedgers) lock in profits and costs by buying and selling futures, and reduce the risk of price fluctuation brought by time. Speculators take more risks through futures trading and wait for opportunities to profit from price fluctuations.

Many futures markets are developed from forward contracts, which refer to one-to-one intertemporal trading contracts, and the trading details are agreed by buyers and sellers themselves. Futures contracts are standardized by exchanges, allowing traders from all directions to easily match transactions on the same platform. Option is another derivative tool derived from futures contracts.