why arbitrage occurs and how traders can take advantage of it. Do arbitrage opportunities have short or long shelf life?

It’s a course work for business class. The requirement listed below: Arbitrage is the simultaneous purchase and sale of an asset in order to profit from a difference in the price. It has application not only in trading bonds, but also stocks, commodities, and other assets. Conduct your own research on arbitrage and elaborate on why it occurs and how traders can take advantage of it. Do arbitrage opportunities have short or long shelf life? Note: Use one-page single space format. Internet research is encouraged (cite your sources), but your paper should be in your own words