Futures and spot are completely different. Spot is actually a tradable commodity. Futures are mainly not commodities, but standardized tradable contracts based on some popular products such as cotton, soybeans and oil and financial assets such as stocks and bonds.

Financial futures refers to a binding standardized contract in which both parties buy and sell a financial instrument at an agreed time and price in the financial market. Futures contracts with financial instruments as the subject matter.

Financial futures contracts are also called "interest rate futures contracts". Financial futures contracts, like other commodity futures contracts, are contracts that promise to buy or sell financial certificates on a specific date. This kind of contract can be bought and sold freely in the financial futures market, which makes the contract fully liquid.

Option refers to a contract, which originated in the American and European markets in the late18th century. This kind of contract gives the holder the right to buy or sell assets at a fixed price on or before a certain date.

A financial forward contract refers to an agreement or contract reached by both parties to buy or sell a certain (or a basket of) financial assets at a predetermined price (such as interest rate, exchange rate, stock or bond price, etc.) in a certain way in the future. ). During the validity period of a forward contract, the value of the contract changes with the fluctuation of the market price of the underlying asset.