Penn personal experience what they quote on their site as their alleged current payout rates by country is not what you were going to get and either column... and once you get over a thousand clicks or so on a link you're going to see that CPM rate plummet... and that is regardless of the quality of your traffic and that's not to mention the fact that you have to remember that ALL ad Networks shave...., even the good ones, and even if their reps would place their hand on a Bible and swear under oath that they don't shave, yes they do
So although you may with the information you have reasonably believe that you would be getting $9 CPM at the end of The Campaign you will see that $9 turn into $0.80 to $1 CPM on probably 50 to 70% if you're lucky of the clicks that you actually send them... because remember, in order for it to count for adfly they have to have JavaScript enabled cookies enabled not have any sort of ad blocker and not be using a VPN or any sort of proxy and adfly ads in general can only have been served for that IP address whether it be their personal cell phone connection the wi-fi at their University or office or public location or a neighborhood IP address or any of the sort, a total of 5 times within 24 hours weather it was from clicking on your publisher link or any other Publishers adfly link - total of 5... and view the ad for at least 5 seconds and click on the appropriate button to navigate to their destination... that being said, is technically possible to Arbitrage properly if you are smart about finding is it traffic source that is not complete crap who happens to be selling traffic from a certain Geo 4 significantly and I mean percentage-wise less than adfly advertised payout for that particular go happens to be at the moment... I will say, with some traffic sources there have been some European GEOS that I was able to turn a profit from but it was painfully flu and small and not worth my time I would all actually call it a loss even though I had a piddly little $50 Roi because my time could have been better spent elsewhere make me a lot more then I did for the amount of time it took... Short version yes it's possible but not worth it