Source: https://mochatrade.com/learn/glossary/spot-price-vs-futures-price

# Spot price vs futures price
URL: https://mochatrade.com/learn/glossary/spot-price-vs-futures-price
Last modified: 2026-10-17

The spot price is for delivery now; the futures price is for delivery later, and the gap is the cost of carry, which [closes to zero at expiry](https://mochatrade.com/learn/start-here/quiz). COMEX gold above London spot is normal, not arbitrage. A contract on a futures month has [the roll inside its number](https://mochatrade.com/learn), and a perpetual's gap to spot is [closed by funding](https://mochatrade.com/support/what-is-a-perpetual-contract-and-does-it-expire).

## Related terms

- Cost of carry: https://mochatrade.com/learn/glossary/cost-of-carry
- COMEX: https://mochatrade.com/learn/glossary/comex
- Gold futures: https://mochatrade.com/learn/glossary/gold-futures
- Contract rollover: https://mochatrade.com/learn/glossary/contract-rollover
- LBMA gold price: https://mochatrade.com/learn/glossary/lbma-gold-price
- Strike price and expiry: https://mochatrade.com/learn/glossary/strike-price-and-expiry

Educational content only. Not investment advice. Leveraged products magnify losses as well as gains.