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What does arbitrage mean?

Looking for the meaning or definition of the word arbitrage? Here's what it means.

Noun
  1. (finance) A market activity in which a security, commodity, currency or other tradable item is bought in one market and sold simultaneously in another, in order to profit from price differences between the markets.
  2. (archaic) arbitration
Verb
  1. (intransitive, finance) To employ arbitrage
  2. (transitive, finance) To engage in arbitrage in, between, or among
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