Yes, and they miss the fact arbitrageurs actually help most people. If these arbitrageurs are keeping all the prices in different exchanges in line, it means t

Yes, and they miss the fact arbitrageurs actually help most people. If these arbitrageurs are keeping all the prices in different exchanges in line, it means that your average ad seller/buyer does not need to spend time and money on researching which exchange has best liquidity (although they probably still want to know which one chargers lower comissions). Of course, there will be an effective fee that the arbitrageurs collect, but competition amongst them will drive that feed down (in principle, to less than what the average person would have spent on research).