Futures ratio refers to the ratio of the total contract trading volume in the futures market to the spot trading volume in the same period, which is used to reflect the relative trading activity between futures and spot. In practice, futures ratio is widely used in futures market analysis and trading strategy formulation. If the futures trading volume is higher than the spot turnover in the same period, it shows that the futures market is highly active and traders are more willing to trade in the futures market. Conversely, if the futures ratio is lower than the spot ratio, it means that the market tends to trade in the spot market.

The ratio of futures is one of the key indicators to determine the fluctuation of futures prices. In practice, futures prices are usually affected by market supply and demand, basis and risk premium. If the proportion of futures increases, it means that the market demand for the futures contract increases, which in turn increases the futures price. On the other hand, if the proportion of futures decreases, it means that investors' demand for the futures contract decreases, which in turn leads to a decline in futures prices.

Compared with the change of spot market turnover in the same period, the change of futures ratio has the function of predicting the trend. Investors can judge the views and expectations of market traders on the contract through the market's reaction to the futures ratio. If the futures ratio shows signs of growth, it means that the market expects the spot price to rise; if the futures ratio drops, it means that the market is bearish on the spot price. Generally speaking, the futures ratio can be used as an important indicator to predict the market trend.