DeFi - Arbitrage and Carry Trade Strategies

Binance Research just released this informative article:

DeFi users may profit from interest rate arbitrage (borrow at one rate and lend at a higher rate) and carry trade strategies (borrow with a low-interest asset to invest in an asset yielding higher returns). These are made possible by decentralized interest rate differences and over-collateralization requirements.

Please share your opinions on these strategies, and any experience you have using DeFi for profit.