Arbitrage is the simultaneous purchase and sale of the same asset in different markets in order to profit from a difference in its price. Arbitrage is the practice of taking advantage of price differences for the same product (asset) in different markets.Any positive earnings in excess of the Arbitrage Yield (except for a minor portion as defined in the Tax. Arbitrage is the simultaneous buying and selling of a good for two different prices, locking in a guaranteed profit. Changes in interest rates can give rise to arbitrage opportunities that, while short-lived, can be very lucrative for traders who capitalize on them. (b) The deposit of custodial moneys from an account held in the custody of the treasurer of state to facilitate settlement of obligations of the custodial fund. First we need some definitions. "Public moneys of a subdivision" has the same meaning as in the Ohio Rev. Approach and assumes a time horizon, as defined in the Statement of Investment Policy.