After understanding Binance's smart arbitrage products, I found that arbitrage robots hedge risks by establishing opposite positions in the spot and perpetual contract markets, taking advantage of funding fee differences to generate returns. Its advantages include ease of operation, lower risk, and diverse strategies. However, it is important to note that a reversal in funding rates may lead to financing fees, and insufficient market liquidity or increased price differences may affect arbitrage effectiveness. Investors should understand potential risks and assess their own risk tolerance.