Futa, taken literally, just implies two/both (genitals). pOnOs and vagOO.
The term futanari and its original cultural usage is pretty neutral regarding balls, there are no connotations either way. Futa without balls is much more common though.
Animu fandom here in the anglosphere is a little different. Full-package futanari is a term used to distinguish futanari with balls from "normal" futanari. Futanari implies no balls, but newfags often get this wrong.
Whether full-package or not, futanari are quite literally /d/ickgirls.
t. Futanari expert