Arbitrage refers to the practice of buying and selling assets in different markets to take advantage of price differences. However, there are numerous synonyms for this term that can be used in different contexts. One such synonym is the term "speculation," which refers to the act of betting on the future value of a given asset. Another synonym for arbitrage is "trading," which refers to the buying and selling of assets for profit. In the world of finance, "arbitrageur" is a commonly used word that refers to a person who engages in arbitrage. Overall, the use of synonyms can add diversity and sophistication to one's writing while conveying the same meaning.