Pixalate Releases Mobile Seller Trust Index 2.0, Exposes 26% of U.S. SSPs as Primarily Arbitrageurs

Event summary

  • Pixalate launched the Mobile Seller Trust Index 2.0, ranking 200+ SSPs across 100+ markets on arbitrage vs. publisher-direct inventory.
  • The index found 26% of U.S. SSPs are primarily arbitrageurs in Q4 2025, with Japan (42%) and Australia (39%) also showing high arbitrage ratios.
  • Top-ranked sellers in the U.S. include Google AdExchange, Applovin, InMobi, Mintegral, and Digital Turbine.
  • The index measures arbitraged inventory ratio, 'DIRECT' publisher penetration, and invalid traffic ratios (SIVT, GIVT).
  • Pixalate's tool aims to help buyers optimize supply paths by identifying direct publisher relationships.

The big picture

Pixalate's Mobile Seller Trust Index 2.0 addresses a longstanding opacity in programmatic advertising: the prevalence of arbitrage in mobile app inventory. By providing independent rankings, the tool empowers buyers to reduce inefficiencies in the ad supply chain, a critical shift as digital ad spending continues to grow. The findings highlight significant regional variations in arbitrage, suggesting opportunities for market-specific optimization strategies.

What we're watching

Supply Path Optimization
Whether buyers will use Pixalate's data to shift spend toward direct publisher relationships and away from arbitrage-heavy SSPs.
Regulatory Scrutiny
How regulators may respond to the high arbitrage ratios exposed in key markets, potentially tightening rules on ad intermediaries.
Market Consolidation
The pace at which smaller SSPs with high arbitrage ratios face pressure to consolidate or exit the market.