Hello fellow crypto enthusiasts,
I’ve noticed BTC/GBP is currently trading at around 22.4k on Binance whereas on other exchanges e.g. Kraken, it is trading at 24.2k. Similarly ETH/GBP is currently trading at around 1.4k whereas on Kraken it is trading at 1.51k.
Note: I’ve checked for USD, and prices seem to be in line (as expected), but this is not the case for GBP.
In standard financial markets, if huge price differences such as this existed on exchanges, arbitrage would take place, eliminating significant price differences.
Anyone know what’s going on here? i.e. why the Binance price for GBP seems to be so much lower?