Futures arbitrage refers to the trading behavior of using the price difference between related markets or related contracts to trade in the opposite direction in order to benefit from the favorable change of price difference. If the spread between the futures market and the spot market is used for arbitrage, it is called spot arbitrage. If arbitrage is carried out by using the price difference between different contracts in the futures market, it is called spread trading. It is precisely because of the existence of arbitrage in the futures market that it greatly enriches the operation mode of the market and enhances the artistic characteristics of investment transactions in the futures market. When spread trading first appeared, most people in the market regarded it as a speculative activity. With the occurrence of this kind of trading activity becoming more and more frequent, the influence is increasing. Arbitrage trading is generally regarded as an independent trading mode that plays a specific role and is different from speculative trading.