Nope
It's arbitrage across the prices of LEO:HIVE and LEO:CACAO
Nobody is "losing" money. The pools have a price discrepancy and if you catch them at the right time and swap HIVE across the aggregator, you are effectively arbitraging the pools back to parity
Then it's because there's too little liquidity, once the pools grow, such dicrepancies would hardly occur, right?