There are several arbitrage strategies that can be used to exploit price differences between two or more markets. Some common arbitrage strategies include:

1. *Unwinding*: This involves closing out an arbitrage position by selling the asset in the cash market and buying it back in the futures market.

2. *Rolling over*: This involves extending an arbitrage position by closing out the existing position and opening a new one with a later expiration date.

3. *Cash and carry*: This involves buying an asset in the cash market and selling it in the futures market, while holding the asset until the futures contract expires.

4. *Reverse cash and carry*: This involves selling an asset in the cash market and buying it in the futures market, while shorting the asset until the futures contract expires.

5. *Spread arbitrage*: This involves exploiting price differences between two or more assets, such as buying a stock and selling a futures contract on the same stock.

6. *Merger arbitrage*: This involves buying the stock of a company being acquired and selling the stock of the acquirer.

7. *Convertible arbitrage*: This involves buying a convertible bond and selling the underlying stock.

8. *Fixed-income arbitrage*: This involves exploiting price differences between different fixed-income securities, such as bonds and treasury bills.

These are just a few examples of the different arbitrage strategies that can be used. The key is to identify a price discrepancy between two or more markets and exploit it through a risk-free arbitrage position.