>And since transaction costs and times make arbitrage impractical This can be mitigated. Exchanging to a less congested coin can be done quickly for fast, low-

>And since transaction costs and times make arbitrage impractical This can be mitigated. Exchanging to a less congested coin can be done quickly for fast, low-cost transfers. Keeping a buffer at each exchange will lower overall rate of return but also reduce the frequency of transfers required.