Arbitrage is the simultaneous purchase and sale of the same asset in different markets in order to profit from a difference in its price. Capital structure arbitrageurs focus on individual issuers.They look for valuation differentials between a company's debt and equity securities. Arbitrage is the process of simultaneously buying one instrument and selling another security short (also known as shorting a security) Defining and classification of capital expenditures. Arbitrage is the strategy of taking advantage of price differences in different markets for the same asset.