The landlord's question is a bit abstract, which can be answered as follows: merton miller, the winner of the Nobel Prize in Economics, said: "The charm of the futures market lies in letting you really know the price." The advantage of futures market in price formation determines that it has the function of price discovery. First of all, the futures price is formed by the centralized trading of exchange participants, which is completely different from the spot price where participants are relatively scattered and privately traded. Centralized trading gathers many traders and bids in a free and open environment, so the futures price is more real and authoritative than the spot price. Secondly, the futures price represents the settlement price of the market at a specific time and place in the future. Many participants trade with different expectations, and the trading results represent the market's views on future prices, so the futures market has the function of discovering prices. This reflects that the price discovery function of futures market must meet three conditions: first, there are many participants in futures trading; Secondly, most futures traders are familiar with a certain commodity market; Third, futures trading is highly transparent.