Is this Binance?
Discussion
Binance has ceased GBP deposits and withdrawals, so even if you sell BTC at that high BTC/GBP rate, you won't be able to withdraw your GBP, and if you try to swap it for USDT, you will get less USDT than the GBP/USD rate would imply.
When fiat deposits or withdrawals are not possible, it leads to mispricings that look like triangular arbitrage opportunities, but you can't take them out, otherwise someone would have done it already.
Yes it is Finance indeed. I was missing that info about GBP withdrawals (just checked, it's since march). What you said makes a lot of sense, and that was my point, how come none has doing that triangle aebitrage. Thanks man 🤙
I checked BTC/EUR as it still looked like a small (1.2%, maybe 1% after trading fees) arbitrage opportunity. It turned out the only way to withdraw EUR was via credit card at a 1.8% fee, so that's why no one is doing that one.