Noob assumption.
Crossing buy/sell spreads on two exchanges will easily cost more than 1%. More likely 2-5%. Then you also pay the extra exchange feeds and trade fees on top.
Crossing buy/sell spreads on two exchanges will easily cost more than 1%. More likely 2-5%. Then you also pay the extra exchange feeds and trade fees on top.
D'oh, of course! I feel a bit silly now, because I don't need to make urgent conversions and thus can afford to sit and wait for the currency trade to be profitable. But if you need to transfer the funds near instantly you don't have this luxury. Excuse my lack of engagement of both brain cells.
