In the stock index futures market, there are three main forms of arbitrage trading: period arbitrage, cross-market arbitrage and cross-variety arbitrage. Intertemporal arbitrage is investors' prediction and trading of the relationship between commodity prices in different delivery months; Cross-market arbitrage is the prediction and trading of the price change relationship of the same commodity in different exchanges. Cross-variety arbitrage is investors' prediction and trading of the changing relationship between different but related commodity prices in the same delivery month.

In addition, in the foreign exchange market, there are arbitrage and arbitrage without arbitrage. No-carry arbitrage means that arbitrageurs only use the difference of interest rates between two different currencies to convert the currency with lower interest rate into the currency with higher interest rate to earn profits. When buying or selling a spot currency, don't sell or buy a forward currency at the same time, and bear the risk of exchange rate changes.

Exchange rate changes will also bring risks to arbitrageurs. In order to avoid this risk, arbitrageurs convert low-interest currencies into high-interest currencies at the spot exchange rate, and also convert high-interest currencies into low-interest currencies at the forward exchange rate, which is called carry arbitrage.