Suppose that Bank 1 is quoting the Singapore dollar spot rate at 1.5 SGD/$, Bank 2 is quoting the Swiss franc spot rate at 1.25 SF/$, and Bank 3 is quoting the exchange rate between the Singapore dollar and the Swiss franc at 1.10 SGD/SF.
If there is an arbitrage opportunity, then calculate the triangular arbitrage profit (in dollars) that is possible if you start with $1 million.
Also clearly indicate the steps you would take to take advantage of the arbitrage opportunity.