Suppose the market interest is zero so that anyone can borrow money without any interest. What would be the contract value of March 2021 May 2021 calendar spread of this future? FYI, if you buy 1 calendar spread, you are buying one contract expiring in March 2021 while simultaneously selling one contract expiring in May 2021. Assume 60 days between the expiration dates for each contract (30 day convention for each month). Suppose that the short position can deliver the underlying at the first day of the expiry month.