The biggest difference between spot and futures lies in the different trading objects and the restrictions on the delivery time of commodities.
The target of futures trading is a contract to be delivered in a given month in the future, and the contract has a fixed expiration time, that is, the last trading day. The price of futures trading reflects the expectation of future price, and the price is spot price+time cost. However, the subject matter of spot trading and spot deferred trading is spot goods, and there is no time limit for delivery. Traders can make delivery at any time according to their own declaration, and the spot transaction price is the current price.