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Your doing the math wrong. Lets do this backwards Internal market is about 1.3 Sbd per Steem. If you multiply the market price of sbd ($1.4) by the conversion rate (1.3) it = 1.82 whichThis is the current price of Steem.

That makes sense, but I see the market price of sbd at about $1.8. The problem must be that we are finding our market prices from different sources.

Like i asked you two posts ago where did you find sbd at 2.46

Also if you found sbd at 2.46 as the lowest ask on the selling order that would have been a bad trade and something wierd was going on with the real market of sbd is always lower that Steem