Noticed this a few months ago on Kraken too, GBP->BTC->AUD rate was beating Wise even with fees for the amount I was moving

Fiat->BTC->Fiat is the real rate nostr:note1lpkjs3dr0evxxevrhnw85hgg2vwrj2m0xq88j8y4gta98zv7uqvq92npq3