Demonstration of Communication using Neutrinos (2012)
arxiv.org
arxiv.org
I'm not sure that's much better than ULF, with similar issues on the size/cost of the transmitter.
They do mention interstellar communication though.
If so, I think the speed advantage disappears.
If you wanted to transmit a lot of information with one pulse, you'd use time domain slicing and synchronized atomic clocks.
Regardless, you don't need particularly high signal fidelity in order to arbitrage the market, just better than 50/50. The ~25ms they can cut off of the transmission latency is an eternity in market time.
NYC to Tokyo would require an unprecedented beamline angled deep down into the earth as well as a much more powerful proton driver to produce enough neutrinos to compensate for the 1/r^2 loss of flux.
And, then there is the neutrino oscillation resonance due to the high matter density as the neutrinos pass near the Earth's core just to mix things up.
The price tag for DUNE is a couple billion USD for a relatively "short" baseline of 1300 km and 40kton far detector.
All that said, if some fat cat trader wants to fund it, I'll help build it.
O(1) infrastructure required
http://www.sciencemag.org/news/2017/08/milk-jug-sized-detect...
Please look at the picture: you can see a neutrino detector being held. But what's also very important to detect neutrinos is shielding from every other type of radiation, so that you can differentiate between neutrino radiation and everything else. The shielding is done by metallic (likely, lead) bars around the detector. The shielding is much more massive than the detector.
Another point: in the article they say that they have detected a 136 neutrino events over 461 days. So you can transfer one bit ~10 days. Neutrino detector sensitivity scales linearly with volume. Now imagine if you scale down your ~5-10 liter detector to a volume of 0.2 liters (a fliphone volume).
Which is to say, not doable.