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ETH kimchi premium: Upbit & Bithumb vs Binance

How much more (or less) ETH 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, ETH last traded at ₩3,683,000, which is $2,714.1 at Upbit's ₩1,357 per USDT, against $2,716.1 on Binance: a 0.07% discount. In other words, ₩1,000,000 spent on ETH on Upbit buys about ₩1,000,700 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 +0.48% across 189 coins, so ETH is cheaper in Korea than the typical coin. ETH ranks #6 of 213 by Korean 24h trading value (₩121.5B); on Bithumb its premium is -0.02%.

USDT = ₩1,357 (Upbit)#6 of 213 by KRW volumeSources: Upbit, Bithumb, BinanceAs of 08:11 UTC

ETH premium vs Binance
-0.05%
average of 2 Korean venues
Upbit premium
-0.07%
₩3,683,000 · ₩84.6B 24h
Bithumb premium
-0.02%
₩3,685,000 · ₩36.9B 24h
USDT/KRW rate used
₩1,357
Upbit KRW-USDT market

ETH on Upbit and Bithumb vs Binance

as of 08:11 UTC · premium vs USDT
Venue KRW price USD equivalent Binance price Premium KRW 24h volume
Upbit ₩3,683,000 $2,714.1 $2,716.1 -0.07% ₩84.6B
Bithumb ₩3,685,000 $2,715.5 $2,716.1 -0.02% ₩36.9B

USD equivalent = KRW price ÷ ₩1,357, Upbit's own KRW-USDT price, so the premium is vs USDT, not vs the bank dollar rate. Binance price: the spot ETH/USDT market. ETH is #6 of 213 coins by combined Upbit + Bithumb 24h volume (₩121.5B).

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.

ETH kimchi premium FAQ

What is the ETH kimchi premium today?

ETH trades at a 0.05% discount on Korean exchanges against Binance right now (Upbit -0.07%, Bithumb -0.02%). The figure refreshes about once a minute from the Upbit and Bithumb public tickers.

How is the ETH kimchi premium calculated?

The ETH KRW price on Upbit or Bithumb is divided by the Korean USDT price in won (₩1,357 on Upbit now) and compared with the ETH price on Binance ($2,716.1, spot): premium = KRW price ÷ USDT/KRW ÷ Binance price − 1. A venue counts only when it traded at least ₩500.0M of ETH in the last 24 hours.

Can you arbitrage the ETH 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 ETH deposits or withdrawals, and the premium can close before a transfer lands. Nothing here is financial advice.