COW Kimchi Premium Today: Upbit & Bithumb vs Binance

COW kimchi premium: Upbit & Bithumb vs Binance

How much more (or less) COW costs on the Korean exchanges Upbit and Bithumb than on Binance: the KRW price converted to USDT at the Korean USDT/KRW price, against the Binance spot price. From the same snapshot as the kimchi premium table.

On Upbit, COW last traded at ₩217.00, which is $0.1600 at Upbit's ₩1,356 per USDT, against $0.1615 on Binance: a 0.91% discount. In other words, ₩1,000,000 spent on COW on Upbit buys about ₩1,009,200 worth at Binance prices, so it is cheaper to buy in Korea than abroad right now. That is below Upbit's volume-weighted premium of +0.49% across 186 coins, so COW is cheaper in Korea than the typical coin. COW ranks #122 of 211 by Korean 24h trading value (₩1.4B).

USDT = ₩1,356 (Upbit)#122 of 211 by KRW volumeSources: Upbit, Bithumb, BinanceAs of 09:29 UTC

COW premium vs Binance

-0.91%

average of 1 Korean venue

Upbit premium

-0.91%

₩217.00 · ₩1.4B 24h

Bithumb premium

—

under ₩500.0M 24h or not listed

USDT/KRW rate used

₩1,356

Upbit KRW-USDT market

COW on Upbit and Bithumb vs Binance

as of 09:29 UTC · premium vs USDT

Venue	KRW price	USD equivalent	Binance price	Premium	KRW 24h volume
Upbit	₩217.00	$0.1600	$0.1615	-0.91%	₩1.4B
Bithumb	not shown: under ₩500.0M traded in 24 h, not listed, or excluded

USD equivalent = KRW price ÷ ₩1,356, Upbit's own KRW-USDT price, so the premium is vs USDT, not vs the bank dollar rate. Binance price: the spot COW/USDT market. COW is #122 of 211 coins by combined Upbit + Bithumb 24h volume (₩1.4B).

COW kimchi premium history

Recording since Sep 29, 2026 for the top 20 coins by Korean 24h volume plus BTC, ETH, XRP and SOL; COW gets a chart after a day among them.

Data: Upbit and Bithumb public ticker APIs, and Binance prices from this site's live feed, refreshed about once a minute. Green means Korea pays more than Binance, red less. Every coin is on the kimchi premium table. Not financial advice.

COW kimchi premium FAQ

What is the COW kimchi premium today?

COW trades at a 0.91% discount on Korean exchanges against Binance right now (Upbit -0.91%). The figure refreshes about once a minute from the Upbit and Bithumb public tickers.

How is the COW kimchi premium calculated?

The COW KRW price on Upbit or Bithumb is divided by the Korean USDT price in won (₩1,356 on Upbit now) and compared with the COW price on Binance ($0.1615, spot): premium = KRW price ÷ USDT/KRW ÷ Binance price − 1. A venue counts only when it traded at least ₩500.0M of COW in the last 24 hours.

Can you arbitrage the COW kimchi premium?

Not easily. Korean exchanges take won only from verified local bank accounts and South Korea limits moving won abroad, which is why the gap can last. Transfers take time, an exchange can suspend COW deposits or withdrawals, and the premium can close before a transfer lands. Nothing here is financial advice.