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How Do Market Makers Profit from Arbitrage Opportunities Created by Basis Differences?

Market makers engage in basis trading to profit from temporary misalignments between the futures price and the spot price. They typically execute a simultaneous long position in the undervalued leg and a short position in the overvalued leg.

This locks in a risk-free profit that materializes when the prices converge at expiration.

Can a Synthetic Long Position in the Underlying Asset Be Created Using American Options?
How Is a Synthetic Short Asset Position Created Using Options?
How Is Synthetic Long or Short Position Created Using Options for Arbitrage?
How Does the Funding Rate Create an Arbitrage Opportunity for Market Participants?