Bitcoin Arbitrage is the financial act of using different platforms for buying Bitcoin cheaper and sell it in a higher price
The cost of currencies can differ widely in different countries. These value differences give possibility to people to use it to their advantages in case of Bitcoin too. Basically, Bitcoin is bought in a smaller exchange rate and sold in a higher exchange rate right after.
For exampleIn Brazil provides a really good market for bitcoin arbitrage. So far, bitcoins are subsumed under the general class of "intangible goods" but without any proper identity. Intangible property that is worth money. In Brazil, cryptocurrencies are similar to shares. But being intangible goods they are not subjected to import tax or other customs duties.
All in all since Bitcoin exists just like in case of foreign exchange companies playing with the exchange rates for profit is common. However, it's a risky investment strategy. The infrastructure is not ready for fast exchanges and that can eat up the whole profit and cause loss real quick as exchange rates are continuously changing and websites are not always working. Moreover, in case of bitcoin arbitrage additional fees might appear in every website.
There are a number of good platforms in Malaysia like Luno where investors can easily buy and sell Bitcoins and earn profit through arbitrage.