Oversimplifying: disparate exchanges can have short-lived price differences arising from price updates taking some time to propagate across the world. They wann

Oversimplifying: disparate exchanges can have short-lived price differences arising from price updates taking some time to propagate across the world. They wanna beam price data and buy/sell orders super fast between points to try to beat these differences by buying and selling the spread before the price settles. It's dumb but lucrative if you can do it.