Q: Is crypto arbitrage permissible?

A: Yes—arbitrage can be permissible only when every leg is a true spot trade: both cryptocurrencies change ownership immediately (bayʿ al-ṣarf), you already hold the assets on each exchange, and no margin or credit is used. Maintain full qabḍ (possession) at each step and complete both trades within the same session to avoid settlement risk.

If the strategy involves leverage, delayed transfers, or synthetic price bets, it introduces gharar (uncertainty) and maisir (speculation) and becomes impermissible.

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