Definition ∞ The state where asset prices and valuations across different trading venues or related instruments align with economic principles and arbitrage-free conditions. This implies that no risk-free profit opportunities exist due to price discrepancies. Consistent markets facilitate efficient capital allocation and accurate price discovery. Deviations often signal inefficiencies that arbitrageurs exploit.
Context ∞ Market consistency is a constant goal in crypto markets, often discussed in news regarding the efficiency of decentralized exchanges (DEXs) versus centralized exchanges (CEXs). Arbitrageurs play a key role in maintaining this consistency by correcting price imbalances. Challenges to market consistency, such as network congestion or liquidity fragmentation, are frequent topics of analysis.