Many of the County's issuances are subject to the arbitrage rebate requirements contained in. Arbitrage is the simultaneous purchase and sale of the same asset in different markets in order to profit from a difference in its price.This Statement's objective is to improve accounting and financial reporting. The following is a list of some documents that may be recorded if they meet all requirements, and a description or definition of each document. Unrestricted net position consists of net position that does not meet the definition of restricted or net investment in capital assets.