In a sluggish cryptocurrency market, a group of players known as arbitrageurs continue to profit by exploiting information asymmetries and execution prowess. These individuals focus solely on system inefficiencies and price discrepancies, avoiding market narratives and emotional trading. Their strategies range from manual arbitrage to high-frequency algorithms, and from on-chain initial offerings to cross-DEX arbitrage. Despite increased competition and shorter windows of opportunity, these arbitrageurs find ways to capitalize on market inefficiencies through a cycle of observation, validation, and execution.