I’ve seen plenty of arbitrage opportunities on Crypto and some were legit (usually gone quickly) but many on closer inspection required either some directional

I’ve seen plenty of arbitrage opportunities on Crypto and some were legit (usually gone quickly) but many on closer inspection required either some directional risk of roughly the same size as the profit (ie while waiting on confirmations) or would get front run by MEV bots or required trusting some borderline exchange with large amounts of capital etc, so I think there are a lot of reasons they exist besides people don’t know how to take advatage of them.