MORPHO Kimchi Premium Today: Upbit & Bithumb vs Binance

MORPHO kimchi premium: Upbit & Bithumb vs Binance

How much more (or less) MORPHO 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, MORPHO last traded at ₩3,497, which is $2.581 at Upbit's ₩1,355 per USDT, against $2.582 on Binance: a 0.05% discount. In other words, ₩1,000,000 spent on MORPHO on Upbit buys about ₩1,000,500 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 +0.23% across 184 coins, so MORPHO is cheaper in Korea than the typical coin. MORPHO ranks #102 of 208 by Korean 24h trading value (₩1.6B).

USDT = ₩1,355 (Upbit)#102 of 208 by KRW volumeSources: Upbit, Bithumb, BinanceAs of 12:05 UTC

MORPHO premium vs Binance

-0.05%

average of 1 Korean venue

Upbit premium

-0.05%

₩3,497 · ₩1.6B 24h

Bithumb premium

—

under ₩500.0M 24h or not listed

USDT/KRW rate used

₩1,355

Upbit KRW-USDT market

MORPHO on Upbit and Bithumb vs Binance

as of 12:05 UTC · premium vs USDT

Venue	KRW price	USD equivalent	Binance price	Premium	KRW 24h volume
Upbit	₩3,497	$2.581	$2.582	-0.05%	₩1.6B
Bithumb	not shown: under ₩500.0M traded in 24 h, not listed, or excluded

USD equivalent = KRW price ÷ ₩1,355, Upbit's own KRW-USDT price, so the premium is vs USDT, not vs the bank dollar rate. Binance price: the spot MORPHO/USDT market. MORPHO is #102 of 208 coins by combined Upbit + Bithumb 24h volume (₩1.6B).

MORPHO kimchi premium history

Recording since Sep 29, 2026 for the top 20 coins by Korean 24h volume plus BTC, ETH, XRP and SOL; MORPHO 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.

MORPHO kimchi premium FAQ

What is the MORPHO kimchi premium today?

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

How is the MORPHO kimchi premium calculated?

The MORPHO KRW price on Upbit or Bithumb is divided by the Korean USDT price in won (₩1,355 on Upbit now) and compared with the MORPHO price on Binance ($2.582, spot): premium = KRW price ÷ USDT/KRW ÷ Binance price − 1. A venue counts only when it traded at least ₩500.0M of MORPHO in the last 24 hours.

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