Updated 2026-09-06 00:16 KST · FX rate ₩1,351 · 168 markets
How much of this premium is the coin itself
A premium computed at the FX rate mixes two things: the coin's own Korea-vs-global gap, and how far Korean USDT trades from the market KRW rate. Below the two are separated.
| Won leg (Korean USDT vs FX rate) |
+1.18% |
| Applies equally to every coin — it is a currency effect, not a coin effect |
FX rate ₩1,351 · Korean USDT ₩1,367 |
Korean USDT now trades 1.18% above the market rate. That means demand to get out of won dominates. The asset leg in the tables below is what is left for the coin itself after removing that currency effect.
Highest premium
| Coin | Premium | Asset leg | Upbit | Global |
|---|
| ELF | +13.63% | +12.31% | ₩90.40 | $0.0589 |
| ARKM | +2.32% | +1.13% | ₩148.00 | $0.1071 |
| GLM | +2.27% | +1.08% | ₩152.00 | $0.11 |
| BTT | +1.95% | +0.76% | ₩0.00041 | $0.0000003 |
| XPL | +1.84% | +0.65% | ₩129.00 | $0.0938 |
| HBAR | +1.78% | +0.60% | ₩111.00 | $0.0807 |
| IOTA | +1.77% | +0.58% | ₩54.90 | $0.0399 |
| CTC | +1.70% | +0.51% | ₩132.00 | $0.0961 |
| GAS | +1.65% | +0.47% | ₩1,703 | $1.24 |
| BABY | +1.64% | +0.46% | ₩15.70 | $0.0114 |
| SENT | +1.62% | +0.44% | ₩18.40 | $0.0134 |
| JST | +1.62% | +0.44% | ₩149.00 | $0.1085 |
| COMP | +1.59% | +0.41% | ₩27,410 | $19.97 |
| W | +1.58% | +0.40% | ₩13.60 | $0.009909 |
| BLUR | +1.58% | +0.39% | ₩23.10 | $0.0168 |
Reverse premium (cheaper in Korea)
| Coin | Premium | Asset leg | Upbit | Global |
|---|
| ZIL | -6.93% | -8.01% | ₩3.51 | $0.002791 |
| RVN | -4.18% | -5.29% | ₩3.97 | $0.003066 |
| SAND | -2.66% | -3.80% | ₩52.20 | $0.0397 |
| INJ | -1.97% | -3.11% | ₩6,490 | $4.90 |
| SKR | -0.88% | -2.03% | ₩31.10 | $0.0232 |
| META2 | -0.24% | -1.40% | ₩7,710 | $5.72 |
| PENGU | +0.43% | -0.74% | ₩11.60 | $0.008549 |
| XCN | +0.58% | -0.59% | ₩5.72 | $0.004209 |
| ORCA | +0.61% | -0.56% | ₩1,740 | $1.28 |
| Dogecoin DOGE | +0.63% | -0.54% | ₩119.00 | $0.0875 |
| KMNO | +0.64% | -0.53% | ₩34.20 | $0.0252 |
| SUN | +0.68% | -0.49% | ₩22.70 | $0.0167 |
| ZK | +0.69% | -0.48% | ₩13.50 | $0.009924 |
| USDG | +0.73% | -0.44% | ₩1,361 | $1.00 |
| THETA | +0.73% | -0.44% | ₩243.00 | $0.1786 |
FAQ
- What is the kimchi premium?
- How much higher Korean exchange prices (Upbit, Bithumb) are than global prices, converted at the KRW rate and expressed in percent. Positive means Korea is more expensive; negative is a reverse premium (discount).
- Why does the kimchi premium exist?
- Capital controls on the won make instant arbitrage hard and keep Korean and global liquidity separated. The premium tends to widen when domestic demand surges.
- How should I read the number?
- Direction and speed matter more than the level. A slow rise over days points to domestic buying; a jump within a day may be a deposit/withdrawal delay or a coin-specific issue.
- What is the difference between the won leg and the asset leg?
- The FX-based premium mixes two components. The won leg is how far Korean USDT trades from the market rate and applies equally to every coin. The asset leg is what remains for the coin after removing that currency effect. If the total premium is negative but the asset leg is near zero, the coin is not cheap in Korea — the won conversion is.
- Should I buy when there is a reverse premium?
- This page shows measurements, not trading calls. In our own data, extreme asset-leg readings showed no statistically meaningful relationship with price direction over the following 24 hours. The premium explains the present; it does not predict.
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