Kimchi Premium: Korean Exchange Prices vs Binance
The kimchi premium is how much more (or less) a coin costs on Korean exchanges than abroad. Here it is the Upbit and Bithumb KRW price, converted to USDT at the Korean USDT/KRW price, compared with the Binance USDT price of the same coin: premium vs USDT, BTC and ETH first.
Bitcoin trades at near parity (+0.05%) in Korea against Binance (Upbit +0.07%, Bithumb +0.02%), converted at Upbit's 1,352.1 KRW per USDT. Weighted by volume across every listed coin, the premium is +0.41% on Upbit and -0.31% on Bithumb. 55 of 126 coins trade above Binance and 71 below; the richest is MANTRA at +26.79% and the cheapest is INIT at -2.57%.
Kimchi premium by coin
126 coins · premium vs USDT · BTC and ETH first, then by KRW volume| Coin | Upbit premium | Upbit 24h | Bithumb premium | Binance price | KRW 24h volume |
|---|---|---|---|---|---|
| 1BTC | +0.07% | 0.0 pp | +0.02% | $72,714.2 | ₩142.8B |
| 2ETH | +0.04% | -0.1 pp | +0.04% | $2,016.1 | ₩79.8B |
| 3XRP | +0.10% | -0.1 pp | +0.03% | $1.035 | ₩188.7B |
| 4HYPE | -0.30% | -0.4 pp | -1.08% | $70.620 | ₩118.2B |
| 5SOL | +0.10% | -0.1 pp | +0.19% | $81.640 | ₩27.2B |
| 6NEAR | +0.22% | 0.0 pp | +0.26% | $3.397 | ₩25.3B |
| 7ERA | +0.65% | -0.4 pp | -0.12% | $0.09700 | ₩24.0B |
| 8WLD | +0.02% | -0.1 pp | +0.02% | $0.3017 | ₩22.9B |
| 9DOGE | +0.15% | 0.0 pp | +0.04% | $0.06587 | ₩21.6B |
| 10ENA | +0.20% | +0.1 pp | +0.20% | $0.1395 | ₩21.4B |
| 11ONDO | +0.25% | +0.1 pp | -0.18% | $0.3497 | ₩19.0B |
| 12PRL | +0.98% | — | +0.24% | $0.07324 perp | ₩18.7B |
| 13PEPE | -0.04% | -0.4 pp | +1.31% | $0.0000043800 | ₩15.6B |
| 14Q | — | — | -0.95% | $0.02618 perp | ₩15.5B |
| 15OPG | -1.18% | — | -1.70% | $0.1407 | ₩15.1B |
| 16KGEN | — | — | +0.59% | $0.07166 perp | ₩14.8B |
| 17MBL | +0.23% | — | -0.61% | $0.0006250 | ₩13.6B |
| 18XLM | +0.32% | +0.3 pp | +0.32% | $0.1445 | ₩12.9B |
| 19SUI | -0.05% | -0.3 pp | +0.14% | $0.7962 | ₩9.9B |
| 20AVAX | +0.17% | +0.1 pp | +0.08% | $8.336 | ₩9.8B |
| 21UNI | -0.08% | — | -1.30% | $6.077 | ₩7.6B |
| 22PIEVERSE | -0.14% | 0.0 pp | -0.76% | $1.667 perp | ₩7.6B |
| 23ADA | -0.03% | — | -0.03% | $0.1709 | ₩6.9B |
| 24LINK | -0.09% | — | -0.17% | $9.942 | ₩6.5B |
| 25MAGMA | — | — | -0.72% | $0.2995 perp | ₩6.5B |
| 26SHIB | -0.01% | — | -0.01% | $0.0000042900 | ₩6.4B |
| 270G | -0.16% | — | +0.33% | $0.1489 | ₩5.9B |
| 28XPL | +0.56% | +0.4 pp | -0.45% | $0.04869 | ₩5.9B |
| 29MEGA | -0.39% | — | -1.08% | $0.04596 | ₩5.7B |
| 30TAIKO | -0.23% | — | -0.83% | $0.06627 perp | ₩5.4B |
| 31ARB | -0.19% | — | -0.19% | $0.1445 | ₩5.4B |
| 32BIRB | -0.13% | -0.5 pp | -0.19% | $0.07324 perp | ₩5.0B |
| 33INIT | — | — | -2.57% | $0.1290 | ₩5.0B |
| 34MOCA | +0.04% | — | — | $0.006957 perp | ₩4.7B |
| 35IQ | +1.85% | — | +0.92% | $0.0006390 | ₩4.3B |
| 36TRUMP | -0.03% | — | -0.17% | $1.109 | ₩4.2B |
| 37GTC | -0.46% | — | -0.46% | $0.1598 | ₩4.0B |
| 38HBAR | +0.16% | — | +0.10% | $0.06476 | ₩4.0B |
| 39ZIL | +22.77% | — | — | $0.001506 | ₩3.8B |
| 40CAP | -0.05% | -0.6 pp | -0.05% | $0.1006 perp | ₩3.7B |
| 41BARD | -0.17% | — | — | $0.08520 | ₩3.7B |
| 42IRYS | -0.04% | +0.1 pp | -0.64% | $0.01613 perp | ₩3.7B |
| 43AAVE | -0.12% | — | +0.08% | $111.15 | ₩3.7B |
| 44CT | -0.50% | — | -0.50% | $0.1048 perp | ₩3.5B |
| 45MANTRA | +26.79% | — | — | $0.002870 | ₩3.5B |
| 46VIRTUAL | +0.21% | — | +0.07% | $0.5107 | ₩3.4B |
| 47HUMA | — | — | -0.70% | $0.008290 | ₩3.3B |
| 48PENGU | -0.32% | — | +0.03% | $0.006084 | ₩3.1B |
| 49DOS | -0.19% | — | — | $0.1682 perp | ₩3.0B |
| 50CYBER | -0.23% | -0.1 pp | -1.68% | $0.2550 | ₩2.8B |
| 51PROM | -0.05% | — | — | $4.832 | ₩2.8B |
| 52STX | +0.17% | — | — | $0.2909 | ₩2.8B |
| 53TRX | -0.06% | — | +0.17% | $0.3160 | ₩2.8B |
| 54ELSA | +0.04% | — | -0.83% | $0.06698 perp | ₩2.7B |
| 55SC | +0.67% | — | — | $0.0006340 | ₩2.4B |
| 56RE | +0.37% | — | — | $0.2579 | ₩2.4B |
| 57ARX | +0.13% | — | -0.99% | $0.1987 perp | ₩2.3B |
| 58APT | -0.26% | — | — | $0.5450 | ₩2.2B |
| 59KITE | +0.18% | — | — | $0.1255 | ₩2.2B |
| 60LSK | +0.03% | — | -0.89% | $0.1597 | ₩2.1B |
| 61PYTH | -0.12% | — | — | $0.06272 | ₩1.9B |
| 62BMT | -0.30% | — | — | $0.02166 | ₩1.8B |
| 63BCH | -0.05% | — | — | $226.50 | ₩1.7B |
| 64EGLD | +19.28% | — | — | $2.815 | ₩1.7B |
| 65OPEN | +0.47% | — | — | $0.09570 | ₩1.5B |
| 66ZEST | — | — | -0.67% | $0.1154 perp | ₩1.5B |
| 67NXPC | +0.21% | — | — | $0.1513 | ₩1.5B |
| 68SAND | -0.03% | — | — | $0.04069 | ₩1.3B |
| 69ENS | +0.17% | — | +0.26% | $4.260 | ₩1.3B |
| 70TAO | +0.17% | — | — | $207.70 | ₩1.3B |
| 71INJ | +0.55% | — | +0.35% | $7.466 | ₩1.3B |
| 72LA | -0.19% | — | — | $0.04750 | ₩1.3B |
| 73XEC | +0.70% | — | — | $0.0000055600 | ₩1.2B |
| 74SEI | -0.06% | — | — | $0.04248 | ₩1.2B |
| 75ETC | +0.08% | — | — | $6.570 | ₩1.2B |
| 76PONS | -0.06% | — | — | $0.1480 perp | ₩1.2B |
| 77GWEI | — | — | -1.36% | $0.01738 perp | ₩1.1B |
| 78CC | +0.43% | — | — | $0.08911 perp | ₩1.1B |
| 79SAHARA | -0.12% | — | — | $0.005850 | ₩1.1B |
| 80LIT | +0.10% | — | — | $3.091 perp | ₩1.0B |
| 81SLX | -0.36% | — | — | $0.03392 perp | ₩997.6M |
| 82US | — | — | -0.75% | $0.003860 perp | ₩971.9M |
| 83RECALL | — | — | +17.33% | $0.02742 perp | ₩889.9M |
| 84SOPH | — | — | +23.17% | $0.001300 | ₩872.7M |
| 852Z | -0.17% | — | — | $0.01867 | ₩863.1M |
| 86JUP | -0.10% | — | — | $0.2569 | ₩837.1M |
| 87DOOD | 0.00% | — | — | $0.001531 perp | ₩833.8M |
| 88POL | +0.04% | — | — | $0.08428 | ₩808.8M |
| 89IOST | +0.54% | — | — | $0.0006400 | ₩797.2M |
| 90FIL | +0.07% | — | — | $0.7420 | ₩791.3M |
| 91ZRO | 0.00% | — | — | $1.528 | ₩788.7M |
| 92JTO | -0.20% | — | — | $0.3142 | ₩774.0M |
| 93NIL | +0.24% | — | — | $0.05615 | ₩767.9M |
| 94AERO | +0.34% | — | — | $0.5130 | ₩764.5M |
| 95MOVE | -0.03% | — | — | $0.005371 | ₩763.8M |
| 96CYS | — | — | -1.05% | $0.07400 perp | ₩748.0M |
| 97BILL | — | — | -1.16% | $0.004275 perp | ₩745.8M |
| 98BIGTIME | -0.24% | — | — | $0.004930 | ₩740.7M |
| 99AXS | +0.07% | — | — | $0.7760 | ₩726.2M |
| 100ICNT | — | — | -1.97% | $0.2731 perp | ₩703.5M |
| 101HAEDAL | — | — | -1.74% | $0.02529 | ₩696.8M |
| 102ALGO | -0.54% | — | — | $0.08700 | ₩694.6M |
| 103CHIP | -0.01% | — | — | $0.03114 | ₩681.6M |
| 104ATH | +0.11% | — | — | $0.004344 perp | ₩669.4M |
| 105ZAMA | -0.19% | — | — | $0.06069 | ₩665.0M |
| 106ASTR | +0.17% | — | — | $0.004836 | ₩664.7M |
| 107BERA | +0.58% | — | — | $0.09780 | ₩650.7M |
| 108KAIA | — | — | +0.19% | $0.03150 | ₩637.2M |
| 109HYPER | -0.09% | — | — | $0.04560 | ₩637.1M |
| 110AKT | -0.63% | — | — | $0.5887 perp | ₩625.1M |
| 111PUMP | -0.22% | — | — | $0.003380 | ₩623.3M |
| 112ETHFI | -0.71% | — | — | $0.6145 | ₩615.2M |
| 113SIGN | -0.59% | — | — | $0.009300 | ₩596.7M |
| 114MIRA | -0.17% | — | — | $0.03356 | ₩592.8M |
| 115SOON | -0.99% | — | — | $0.2383 perp | ₩592.2M |
| 116VVV | -0.28% | — | — | $18.913 perp | ₩588.5M |
| 117MON | +0.02% | — | — | $0.01686 perp | ₩585.8M |
| 118FLOCK | -0.16% | — | — | $0.03667 perp | ₩575.7M |
| 119SXT | — | — | -0.15% | $0.009540 | ₩571.1M |
| 120O | -0.41% | — | — | $0.4805 perp | ₩562.9M |
| 121ZK | +0.14% | — | — | $0.009010 | ₩558.1M |
| 122ATOM | -0.19% | — | — | $1.396 | ₩547.2M |
| 123GRVT | -0.23% | — | — | $0.1794 perp | ₩543.7M |
| 124JST | -0.12% | — | — | $0.1451 | ₩527.7M |
| 125STRAX | +1.56% | — | — | $0.008520 | ₩527.1M |
| 126G | +0.23% | — | — | $0.002900 | ₩510.7M |
Excluded (premium beyond ±30%, most likely a different token with the same ticker, or a market being delisted): BLUR (Upbit +40.33%), EDGE (Bithumb -77.56%), EDGE (Upbit -77.77%), MANTRA (Bithumb +49.49%), SOPH (Upbit +101.40%).
BTC kimchi premium history
Hourly · Upbit and Bithumb vs Binance · since 29 Sep 2026Loading chart…
Not recorded Chart: TradingView Lightweight Charts™
ETH kimchi premium history
Hourly · Upbit and Bithumb vs Binance · since 29 Sep 2026Loading chart…
Not recorded Chart: TradingView Lightweight Charts™
Method. Premium = Korean KRW price ÷ USDT/KRW price ÷ Binance USDT price − 1. The USDT/KRW rate is Upbit's own KRW-USDT market (Bithumb's when Upbit is unreachable), so this is the premium vs USDT, not vs the bank dollar rate. A venue's premium is shown when it traded at least ₩500.0M of the coin in 24 hours, and a coin's headline premium (the BTC and ETH cards, richest and cheapest) is the average of the venues shown; coins with no Binance USDT market are left out (130 right now). Green means Korea pays more than Binance, red less.
Data: Upbit and Bithumb public ticker APIs, and Binance prices from this site's live feed, refreshed about once a minute. Compare with the perp vs spot basis and funding rates. Not financial advice.
Kimchi premium FAQ
What is the kimchi premium?
The kimchi premium is the gap between a coin's price on South Korean exchanges and its price elsewhere. Korean capital controls make it hard to move won abroad to arbitrage the difference, so during local buying frenzies Korean prices can run several percent (in 2018 and 2021, 20% or more) above the rest of the world; in quiet or fearful markets the premium shrinks or turns into a discount.
How is the premium calculated here?
For each coin listed on Upbit or Bithumb and on Binance: the Korean KRW price is divided by the Korean USDT price in KRW (Upbit's KRW-USDT market, or Bithumb's when Upbit is unreachable, averaged over the last 10 minutes so a 1-won tick does not swing every premium) and compared with the Binance USDT price, spot where Binance lists it, else its USDT perpetual. Premium = KRW price / USDT-in-KRW / Binance price - 1. Prices refresh about once a minute.
Why premium vs USDT and not vs the dollar?
This page uses exchange public APIs only and no foreign-exchange feed. Converting at the Korean USDT price removes the part of the premium that is really a premium on USDT itself in Korea, so the number shown is how much more a coin costs than the stablecoin you could swap it for. Compare the USDT/KRW price at the top of the page with the bank USD/KRW rate to see that part.
Why are some coins missing?
A venue's premium is shown only when it traded at least ₩500.0M of the coin in the last 24 hours, and the coin must also trade against USDT on Binance. A premium beyond ±30% almost always means two different tokens share a ticker, or a market is being delisted, so those coins are listed as excluded instead. Nothing here is financial advice.
Where can I see kimchi premium history?
Right here: the charts on this page show the hourly Upbit and Bithumb premium for Bitcoin and Ethereum, recorded every hour since 29 Sep 2026, with 30-day, 90-day and all-time views, and each coin's page (for example XRP) has its own chart once a day of its data is stored. The top 20 coins by Korean trading volume are recorded, plus BTC, ETH, XRP and SOL always. The same hourly data is free as JSON from /api/kimchi-premium/history, documented on the developers page.