_ Be mindful of rapid price changes.
_ watch out for exchange fees that can reduce profit.
_ consider liquidity risk that could make selling at a higher price challenging
I think to minimize the risk of raid price changes and the exchange fee, one should make a bot an automated one. That would do all the basic work for you and it will also minimize human error too. Like when we are making transactions from one exchange to another we sometimes forget to copy the new address and paste the last address which is a result of human error. And sometimes, people select the wrong Network of the blockchain for sending and receiving the amount.
These types of errors can be minimized by using the AI bot, but of course, we need open-source and trustworthy AI bots that, no one can tamper with them. But it is not that easy to find one. You must have to be good or at least have some knowledge of the API and IDE. Because the open source AI bots mostly exist on GitHub and people like me (just kidding) are not aware of it and how we should use it.
The risks that you have mentioned are the basic one, but what are your intentions here to make this topic, because it has been discussed here so many times but I think keeping the old knowledge up to date is also necessary.