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Free tool

Triangular arbitrage calculator

Go round three exchange rates, GBP to USD to EUR and back to GBP, in both directions, and see whether the rates line up and how much a fee or spread on each exchange takes. Free, no sign-up, nothing leaves your browser.

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The starting rates are only an example; use the rates you can actually trade at. Real rates move every second and big gaps rarely exist. This is a calculator, not advice.

Best way round, after fees
ยฃ9,971.53
A loss of ยฃ28.47 going GBP โ†’ USD โ†’ EUR โ†’ GBP
GBP โ†’ USD โ†’ EUR โ†’ GBP
ยฃ9,971.53
GBP โ†’ EUR โ†’ USD โ†’ GBP
ยฃ9,968.53
Gap in the rates, before fees
+0.0150%
Fees over three exchanges
โˆ’0.2997%
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How triangular arbitrage works

Three exchange rates, such as GBP to USD, USD to EUR and EUR to GBP, briefly do not line up, so going round the triangle ends with more than you started with. Professional traders and automated systems watch prices constantly, and in big markets like major currency pairs, gaps usually last only fractions of a second.

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Hidden costs and risks

Trading fees, spreads, withdrawal fees and transfer times can wipe out a small gap. Prices can move while money is in transit, and an exchange can pause withdrawals. Arbitrage is often called risk-free, but in practice it rarely is.

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SendPay does not offer trading tools or arbitrage. A SendPay platform lets your customers hold GBP, EUR and USD and exchange between them at a fee you set, powered by licensed partners.

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