The only thing i can say to you is you can better holding on to the bitcoin because bitcoin is growing big and i dont think arbitrage
will be such popular as he was before the bitcoin came into the world off course there are more peopel interested to the bitcoin than in to the arbitrage.
The problem with arbitrage is that is not just a 1 person operation. Just keep in mind this is based on your approach.
If they really want to do it really well at it. Since its based off 3 different currencies in total - the us dollars, bitcoin, and then the other country they pay for cheaper rates.
Or it go the othe way around, but youre basically moving and selling to another market for way higher and if the countries currency is strong enough (if not) then you make it up in other ways.