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You are a market maker for the SPY ETF (S&P 500 ETF). Current SPY best bid and a...

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You are a market maker for the SPY ETF (S&P 500 ETF). Current SPY best bid and ask prices are $445.00 and $445.05, respectively. You can buy 1 basket of securities underlying 1 SPY ETF share for $444.99. Based on this information, you have decided to conduct an arbitrage using market order. There are 155,000 of SPY ETFs and 155,000 baskets of securities underlying SPYs available at the above prices. How much profit can you make in these market conditions?

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