Assume exchange rates are as follows: $1.15 per euro $1.35 per pound 0.90 pound per euro How would I make money through triangular arbitrage with $1,000,000 ? Exchange $1 million to pounds and receive 1.35 million pounds. Exchange pounds for euro and receive 1,552,500 euro. Exchange pounds for dollars and get $1,725,000 for a profit of $725,000. Exchange $1 million to euro, Receive 869,565 euro. Exchange euro to pounds. Receive 782.609 pounds. Exchange pounds to dollars and receive $1,056,522 for a profit of $6,522. Exchange $1 million to euro and get 1,150,000 euro. Exchange euro to pounds to get 1,035,000 pounds. Exchange pounds to dollars to get $1,397,250, for a profit of $397,250. Exchange $1 million to pounds. Receive 740,741 pounds. Exchange pounds to euro. Receive 823.045 euro. Exchange euro to dollars for $946,502 and a profit of $53,498