What does the arbitrage space of futures mean? Is there a clear formula?
Arbitrage space refers to the spread of two contracts beyond the normal range. For example, the price difference between soybean 03 contract and soybean 05 contract is mainly the storage cost between these two months (excluding other expenses for the time being). If it is 100, when the price difference between contract 03 and contract 05 exceeds 100, there will be arbitrage space (excluding other expenses).