33a - arbitrage

In 32, there’s talk of arbitrage opportunity, but 33a talks about an arbitrage-free world.

What am I to take from this?

A) There’s no way to make money in arbitrage, i.e. Econ 101: no such thing as a free lunch

OR

B) You can make money doing arbitrage, but you just need an algorithm fast enough to catch it before the market converges again

B.

:racehorse: