I didn't participate at all with Alpaca; I was completely afraid to get involved. Because this is not arbitrage at all, but a bet against the market maker/exchange. Any modification to the rules will cause severe price fluctuations, and the risk of "arbitrage" is even greater than opening a one-sided position (because the position is much larger). The market doesn't have that many "risk-free" arbitrage opportunities. What newbies see as arbitrage is actually traps deliberately dug by the market makers; in fact, you are the profit in the eyes of the market makers.

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