Bull difference-when the recent month is stronger than the distant month, there is room for profit.

Bear market arbitrage-when the recent month is weaker than the distant month, there is room for profit.

Look at the data you gave. The highest price of gold in June (5438+00) indicates strong demand, while the lowest price in April indicates sluggish demand.

Short in April and long in 10 are the best bear market arbitrage. Niusan just went long in 10, and went short in February of the following year.