Indeed, a swap-spread position such as that described in appendix G can be held. [fact]

    Indeed, a swap-spread position such as that described in appendix G can be held. [fact]
  

Indeed, a swap-spread position such as that described in appendix G can be held until the bond matures and the swap expires. That feature was taken to be the essence of convergence arbitrage: if held to maturity, a convergence arbitrage position has to make a profit, whatever the market's fluctuations along the way.
Donald MacKenzie, An Engine, Not a Camera, loc. 983