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How can the price on a uniswap pair change if one of those tokens is only listed on DEX and not on CEX. How can there be price discovery without arbitrage?

Etherum Reddit

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According to what I have read so far prices on uniswap will change because of arbitrage, but without a CEX that lists the token where people are willing to put in buy orders at higher and higher prices ... how can there be arbitrage.

And without arbitrage how can the price of a token on uniswap change?

submitted by /u/i_have_chosen_a_name
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