Arbitration is essentially buying in one market and simultaneously selling elsewhere, benefit from temporary differences. To apply arbitrage in crypto currency trading, the cost and speed of transactions must be taken into consideration because the market price is always changing.
Yea I agree with arbitrage is not one markets only I don't agree with OP, arbitrage on bitmex only although it gives profit that is trading like other trading on markets, talking about arbitrage there is service that gives recomendation about different price between markets, the minimal capital be used for getting profit, we can check on here https://beta.krip.to/ unfortunately this service is still under maintenance. 
