Following a review of the etymology and modern usage of the term ‘arbitrage’, this article explores the relevance of historical context to possible instances of ancient arbitrage activity. Types of possible ‘arbitrage’ associated with the use of overvalued coinage in regions of Greek influence are considered. Comparison with Roman civilization reveals the relevance of social attitudes and legal institutions to the ability to execute arbitrage trades. Specific attention is given to the possibility of arbitrage across the Roman frontier to India and the impact of debasements during the imperial period. Recognizing that sources prior to early modern times are scant, numismatic, epigraphic and literary evidence that is available to make inferences about ancient arbitrage activity is assessed.

中文翻译：

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套利的起源

在回顾了“套利”一词的词源和现代用法之后，本文探讨了历史背景与古代套利活动的可能实例的相关性。考虑了与在希腊影响地区使用高估硬币相关的可能“套利”类型。与罗马文明的比较揭示了社会态度和法律制度与执行套利交易能力的相关性。特别关注跨罗马边境套利到印度的可能性以及帝国时期贬值的影响。认识到现代早期之前的资料很少，钱币、碑文和文学证据可用于推断古代套利活动。