ELI5: difference between purchasing a bitcoin and purchasing a future with 1x bitcoin multiplier

Apologies in advance as I'm a complete beginner here.

Looking at the CBOE quotes http://ift.tt/2zUEOVP, the price (last) of XBT/F8 on CBOE is 16920 and the current price is 16250.

Couple questions: Let's assume the final price on the settlement date on 1/17/2018 is 17000. * If I purchase a future, am I putting up 16,920? * How much do I gain if I hold the future until the expiration date? * If I sell the future, is that more or less the same as shorting a bitcoin?

Thanks!

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