Futures trading costs are the expenses that traders must pay in the process of futures trading, mainly including commissions, trading fees and margin interest. Refers to the sum of storage fees, insurance premiums and interest paid for owning and retaining certain commodities and securities. Hedging refers to futures trading for the purpose of avoiding spot price risk. It means that producers and operators buy or sell a certain number of spot commodities in the spot market, and at the same time sell or buy futures commodities (futures contracts) of the same variety and quantity in the opposite direction in the spot market, so as to make up for the losses in another market with the profits of one market and avoid the risk of price fluctuation. Principle: (1) The futures price of the same commodity is consistent with the spot price; (2) As the expiration date of futures contracts approaches, the prices of spot market and futures market tend to be consistent.