What is arbitrage? how to do it?

What is arbitrage? and how is it done? I want to share my research. I hope it will be useful.

Arbitrage is the process of taking advantage of the inequality between the prices of an asset in different markets and buying the asset in question from the market where it is lower priced and selling it simultaneously in the market where it is higher. The main purpose of arbitrage is to obtain risk-free profits.
As for how arbitrage is done:
1=Examining Different Markets: In order to perform arbitrage, the selected product must be bought and sold at different prices in different markets.
2=Calculating the Price Difference: The difference between the purchase price and sales price of the product must be calculated thoroughly2. Because commission fees and similar expenses incurred when purchasing the product from one market and selling it to another may cause the profits to be lost or even cause you to incur a loss.
3=Fast Transaction: When an arbitrage opportunity arises, the relevant asset must be purchased simultaneously in one market and sold in another market, and these transactions must be completed in a very short time1. Otherwise, the resulting price inequality will be noticed by other players in the market and prices will be equalized in a short time.
Nowadays, in money and capital markets where the flow of information is very fast, it is almost impossible to manually capture arbitrage opportunities that may arise and complete trading transactions very quickly before this opportunity is lost.
For this reason, specially developed algorithmic software is used.

When these software detect that there is an arbitrage opportunity in the price of an asset traded in two separate markets, they automatically carry out the arbitrage transaction by sending a buy order to one market and a sell order to the other market at the same time.

Although it is difficult to carry out these transactions manually without using algorithmic software in today's market conditions, it may be possible to benefit from arbitrage opportunities that may arise, especially in times of increased volatility, without resorting to special software.

I hope this short article will be useful, friends...