The outer disk and the inner disk in the futures market refer to the futures markets in different regions. The local market refers to the trading of this variety in specific domestic futures markets, such as Shanghai Futures Exchange, Dalian Commodity Exchange and Zhengzhou Commodity Exchange. External market refers to the trading of this variety in foreign futures markets, such as Chicago Mercantile Exchange, Tokyo Mercantile Exchange and London Metal Exchange. There will be differences in price, quotation and trading volume between the internal and external markets due to different market conditions, investors' mentality and trading time. It is very important for futures market participants to understand and master the differences and changes between internal and external markets, because this understanding will help investors make more informed decisions in trading.