Are you implying that arbitrage is the main source of trading volume on these exchanges? And if so, how would arbitrage be a viable long-term strategy given 1

Are you implying that arbitrage is the main source of trading volume on these exchanges? And if so, how would arbitrage be a viable long-term strategy given 1. long block-times which prevent quick movement of cryptocurrencies across exchanges 2. strong AML/KYC which prevent flow of capital between countries (e.g. United States and Korea)