The functions of interest rate futures include:

1. Price discovery function: The price of interest rate futures is generally ahead of the changes in the interest rate current loan market price, and helps to increase the bond current loan market price. information content and promote reasonable price fluctuations through arbitrage trading.

2. Risk avoidance function: Investors can use interest rate futures to fix the investment interest rate of cash flows obtained from operations or the reinvestment rate of expected bond interest income; or to lock in changes in a certain floating loan contract Interest payment portion.

3. Asset optimization function: It is specifically reflected in reducing transaction costs, increasing investment returns in trading locations, improving capital use efficiency, and facilitating cash flow management.

Interest rate futures refer to futures contracts with bond securities as the subject matter, which can avoid the risk of security price changes caused by fluctuations in bank interest rates.