Can someone weigh in on the relatively large difference in prices between various exchanges. I have always mentally chalked it up to friction--caused by the fe

Can someone weigh in on the relatively large difference in prices between various exchanges. I have always mentally chalked it up to friction--caused by the fees of converting from fiat to bitcoin--eating up all the edge in the arb. Is that all it is? [1] https://www.cryptocompare.com/coins/btc/markets/USD https://www.cryptocompare.com/coins/btc/markets/USD