A rookie question maybe:
Why is the dollar price for auroracoin on NovaExchange when trading AUR/BTC only $0.00881 but when trading AUR/DOGE it is $0.010281 ?
I assume that doesn't mean that one could buy a lot of aurora at $0.00881 using BTC, then sell it from aurora to DOGE at $0.010281 and thenturn those DOGE back to BTC somewhere and one would have a 600-800% profit?
That would be a bit too easy, so I guess I just don't understand the CMC price info?
What you are suggesting is actually possible, and happens on many exchanges several times a day. What you want to look at is the available volume at the respective prices. So basically you may be able to do exactly what you are saying, to the volume that is available on said exchange. The volume, however, may only allow you to purchase (for example), .00001 btc or AUR and you may only be able to sell a portion of that for DOGE, then back to Bitcoin. If the volume is too small the fees alone can make it not worth it. What you are suggesting is what is referred to as, arbitrage. It can be a very effective way to earn money, but only works if the quantities are high enough and if you get to the "put" before someone else.
Lastly make sure you are looking at actually "puts" and "calls" (buys and sells), because often times the difference in displayed price is due to one pair being traded recently (an accurate price) and one pair not seeing movement in days, weeks, or longer (legacy price).
Hope that helps.