I was just reading a statarb paper this morning.

We really should have came up with a different word and left arbitrage alone back in the day.

I can't remember the last time I read about an arbitrage that was actually an arbitrage.

Now everything is basically "garage sale arbitrage". I bought a piece of junk at a garage sale and sold it on ebay for a profit. "Risk free profit", cha ching. Just a total corruption of the actual concept.

I get it though,it is a great word.