Bitcoin Arbitrage is the financial act of using different platforms for buying Bitcoin cheaper and sell it in a higher price
Arbitrage is a trading method where one buys a coin from any exchange that has the lowest price of the currency in the market and selling the coin in an exchange with a much higher value. The main reason for this price difference among different exchanges is because the prices of a coin are dependent on the last trade. As there are a different number of people on different exchanges with different preferences thus the prices vary too.
Bitcoin arbitrage is usually not a suggested investment strategy. It's a high risk type of investment. Infrastructure is developing continuously but it's not ready yet for easy exchanges. For trading with bitcoin and for gaining significant profit a big amount of investment is needed.
The cost of currencies can differ 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.
The best countries for Bitcoin Arbitrage are usually the developing countries as they have the smallest prices.