Short-term interest rate futures refer to various interest rate futures with a maturity of less than one year, that is, interest rate futures of various debt instruments in the money market are short-term interest rate futures, including commercial paper futures, treasury bonds futures and Eurodollar time deposit futures with various maturities. Short-term interest rate futures based on short-term interest rate bonds are generally settled in cash at the price of 100, and are generally settled in cash at the price of 100 minus the interest rate level. The two most common short-term interest rate futures are short-term treasury bonds futures and Eurodollar futures.