Futures and spot prices are not opposite, and when the delivery month approaches, the prices will tend to be consistent (futures prices also include storage fees). Hedging is mixed. You may be wrong about this. Hedging is generally a unilateral position. I am worried that the spot price will rise in the future and affect the cost, so I will buy the contract in the corresponding month in the futures to hedge the rising risk. Worried that the future spot price decline will affect profits, short futures. This is a normal hedging situation.

You said a rise and a fall. It should be arbitrage.