> If it's a permanent profit source, then it can't be an arbitrage either, can it? If two things are theoretically supposed to be the same, and they never conve

> If it's a permanent profit source, then it can't be an arbitrage either, can it? If two things are theoretically supposed to be the same, and they never converge, then the claim that they are the same seems dubious. Sure the arbitrage can remain indefinitely. Everything is an arbitrage. A company is buying people's time and selling a product. They are basically engaged in a sophisticated arbitrage. Financial arbitrage in open market are short-lived because deep pocketed investors can quickly close the gap. The arbitrage might be still there but it's not visible to the average guy. (There is a lot of arbitrage going on in Crypto exchanges; however, it's quickly collected by big boys bots; but that doesn't mean the arb doesn't exist).