It's +EV, because at the end of the day, you're not losing anything.

Sure, you may have to conduct KYC, but if the exchange platform that you are doing that on is legitimate and regulated, I don't see a problem with that. There is no barrier to entry, thus there is no element of negative expected value.

Whether or not it's worth your time is doubtful, though. I wouldn't be counting it as an income source, but in your spare time, it could be a fun activity that can win prizes for you here and there occasionally. I've personally seen people profit from completely free competitions from Zebpay and the like.