Arbitrage

n.	1.	Judgment by an arbiter; authoritative determination.
	2.	(Com.) A traffic in bills of exchange (see Arbitration of Exchange).
	3.	(Finance) the simultaneous or near simultaneous purchase and sale of the same or closely linked securities or commodities in different markets to make a profit on the (often small) differences in price.

Noun	1.	arbitrage - a kind of hedged investment meant to capture slight differences in price; when there is a difference in the price of something on two different markets the arbitrageur simultaneously buys at the lower price and sells at the higher price
Verb	1.	arbitrage - practice arbitrage, as in the stock market

arb, arbitrager, arbitrageur, commerce, commercialism, mercantilism, merchandise, trade