Cross-market arbitrage is an activity in which speculators take advantage of the different futures prices of the same commodity in different exchanges and buy and sell futures contracts in two exchanges at the same time to make profits. When the price difference of the same commodity in two exchanges exceeds the transportation cost of the commodity from the delivery warehouse of one exchange to the delivery warehouse of another exchange, it can be predicted that their prices will shrink, reflecting the real cross-market delivery cost in a certain period in the future.

Cross-commodity arbitrage refers to arbitrage by using the difference of futures prices between two different but interrelated commodities, that is, buying (selling) a commodity futures contract in a certain delivery month and selling (buying) another futures contract in the same delivery month and another related commodity at the same time, and analyzing the network of Xingyalong trend tracking trading system.