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Arbitrage is the act of buying a link from one provider for less than they payout provided by another link that's placed on a website in between these two steps. Usually arbitrage affiliates attempt to build extremely simple sites that attempt to “blend” paid links in with normal content. A visitor to the site then clicks on a paid link, and is taken to the advertised site, and the affiliate gets paid. Arbitrage is a complex earnings system and requires a great deal of knowledge in pay per click marketing.