Trade the same asset with two isolated positions (either on the same exchange or a different one, both should have enough liquidity, ideally one or both international exchanges).
It should be a hedged trade with long and short started at the same time with almost identical price. Use exchange API for this or do it manually, but manually is harder.
Monitor the funding rate and earn from funding ( .1% or less is common, more than .1% is rare). Ideally automated.
As long as you monitor well enough and keep earning from funding, it's a less risky way to earn from exchanges with perpetual futures. Just set up price alerts and close both positions when necessary. Maybe even close only one of them if you think you can predict where the price would go.
Even earning 0.1% every day of the month can compound well over time, you can do the math on risk and reward.
Another simple arbitrage strategy is to buy x on one exchange, transfer and sell on another if there's a price difference in any asset (can happen based on exchange liquidity or geography, crypto is cheaper outside India). Buy crypto on vacation, sell it back in India for easy profit.
Crypto season is back gaiz, paise bana lo.
Not financial advice, do your own research. GLHF 🫡