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. The same snapshot and USDT/KRW rate as the kimchi premium table, refreshed every minute.
On Upbit, COW last traded at ₩182.00, which is $0.1352 at Upbit's ₩1,346.5 per USDT, against $0.1360 on Binance: a 0.61% discount. In other words, ₩1,000,000 spent on COW on Upbit buys about ₩1,006,200 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 -0.14% across 128 coins, so COW is cheaper in Korea than the typical coin. COW ranks #18 of 144 by Korean 24h trading value (₩14.8B); on Bithumb its premium is -2.25%.
COW on Upbit and Bithumb vs Binance
as of 17:33 UTC · premium vs USDT| Venue | KRW price | USD equivalent | Binance price | Premium | KRW 24h volume |
|---|---|---|---|---|---|
| Upbit | ₩182.00 | $0.1352 | $0.1360 | -0.61% | ₩12.3B |
| Bithumb | ₩179.00 | $0.1329 | $0.1360 | -2.25% | ₩2.5B |
USD equivalent = KRW price ÷ ₩1,346.5, 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 #18 of 144 coins by combined Upbit + Bithumb 24h volume (₩14.8B).
COW kimchi premium history
Recording since 31 Oct 2026: the chart appears once 24 hourly points are stored (3 so far).
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 1.43% discount on Korean exchanges against Binance right now (Upbit -0.61%, Bithumb -2.25%). 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 (₩1,346.5 on Upbit now) and compared with the COW price on Binance ($0.1360, 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.