A spread within futures contracts created by offsetting positions in 30-year treasury bond futures with positions in 10-year treasury note contracts. 

|||Also known as the note over bond spread, the position a futures trader will take depends upon their perception of the yield curve. If a flat yield curve is expected, the investor will take a long position in the bond and a short in the note contract. If the yield curve is steep, the investor will short the bond and take a long position in the note contract.