have you also taken into consideration the trading fee, withdrawal fee, crypto transfer confirmation time (which expose you to some risk), and probably capital flow control from the countries involved (if any)? Doesn't sound like a very straightforward thing
I agree with you, arbitrage trading is very risky.
not all coins / tokens can be traded.
some markets lock it up so arbitrage trading cannot be done.
Considering some of these risks is the first point that must be done.
Considering factors.
Hence, not all exchange would be open into these opportunities thats why you should have some active eyes.hehe