[worik]

> Most 'pure' arbs are exploited, but many still exist. They often require capital, expertise, and experience.

Not really.

Usually it is a higher tolerance for risk combined with not telling the customer how much risk they actually are taking.

It is all good until it is not, and by then it is too late

[arb-spreads]

Alameda Research made billions arbitraging wide spreads in Asian bitcoin exchanges relative to the rest of the world. Required working with local banks to solve logistics around wire transfers and such.

Obviously a run of the mill crypto ponzi offering 30% interest or something will eventually collapse.

Difficult to balance incentives when it comes to traditional finance offerings such as structured products or an actively managed investment vehicle.

As you point out, customers struggle in evaluating risk