First, exchange CNY/ USD for USD/GBP. In this way, the converted pound can be cheaper than the direct exchange, so a lot of funds flock to this road for arbitrage, but it is actually impossible because of the high cost of indirect exchange.

CNY/ USD RMB costs a little less in the process of converting it into USD-bank charges.

USD/GBP converts USD into GBP, and part of the cost is the spread-charged by the bank.

The cost of these two parts is definitely higher than the profit of arbitrage, which is certain;

Or directly change;