How much more (or less) Tether (USDT) costs in won on Korean exchanges than one dollar at the KRW/USD rate.
Tether premium (Kimchi Premium) ?
▲ +1.05%p24h change
| Exchange | USDT price | Premium | vs $1 | 24h | Volume |
|---|---|---|---|---|---|
 Upbit |
₩1,353$1.0108 | +1.08% | +14.5+$0.0108 | +0.89% | ₩108.9B80.5M USDT |
 Bithumb |
₩1,352$1.0101 | +1.01% | +13.5+$0.0101 | +0.90% | ₩121.8B90.1M USDT |
 Coinone |
₩1,353$1.0108 | +1.08% | +14.5+$0.0108 | +0.89% | ₩62.9B46.5M USDT |
 Digital X |
₩1,352$1.0101 | +1.01% | +13.5+$0.0101 | +0.90% | ₩44.0B32.6M USDT |
Loading the chart…
The Tether premium is how far USDT's won price on Korean exchanges is from one dollar in won (the KRW/USD rate): positive = dearer in won, negative = cheaper. The chart is the median of the four Korean exchanges (every 5 minutes for the last 7 days, hourly averages before); the price is Upbit's.
Kimchi Premium now+1.13%
Tether premium now+1.05%How much dearer or cheaper USDT is on each country's exchange than one dollar at that country's exchange rate.
| Exchange (country) | Premium |
|---|---|
| Upbit(Korea) | +1.08% |
 Bitkub(Thailand) | +0.15% |
 Bitfinex(global) | +0.03% |
 Indodax(Indonesia) | −0.07% |
 BTC Markets(Australia) | −0.21% |
 Coinbase(United States) | −0.22% |
 Coins.ph(Philippines) | −0.52% |
Please note about the chart and numbers
Tether (USDT) is a stablecoin built to track $1, the coin market's most used stand-in for dollars. Korean exchanges trade it for won.
Korean demand and supply, liquidity between exchanges, and limits on sending won abroad let USDT trade above or below the exchange rate in Korea.
Right now: the rate is ₩1,338.50 and USDT averages ₩1,352.5 in Korea, so
(1,352.5 ÷ 1,338.50 − 1) × 100 = +1.05%
The won price of USDT on a Korean exchange is divided by the KRW/USD exchange rate, minus 1, as a percentage. For example, USDT at ₩1,360 with the rate at ₩1,340 gives 1,360 ÷ 1,340 − 1 ≈ +1.49%. One USDT is taken as one dollar, and the rate is Yahoo Finance's KRW/USD market rate, checked every minute. No overseas exchange price (such as Binance) is used.
Demand for a dollar-pegged coin in Korea is strong, so it trades above the exchange rate; a negative value (reverse premium) means it trades below it. Many people read it as a sign of money flowing into or out of the Korean crypto market.
The Bitcoin Kimchi Premium (against the exchange rate) is roughly the Tether premium plus the Tether-based premium. When the Tether premium is high, the Bitcoin premium looks high too, so to see whether the coin itself is dear in Korea, look at the Tether-based premium as well.
Each exchange has its own buyers, sellers and order book. When the gap grows, traders buy where it is cheap and send it where it is dear, which narrows it; closed wallets, fees and transfer time can keep a gap open.
USDT trades below the exchange rate on Korean exchanges (a reverse premium). It often shows up when many people sell crypto for won, or when the exchange rate jumps suddenly; coins' rate-based premiums then usually look lower too.
This page gives no investment advice. Just keep in mind that buying USDT with won at a high premium means paying more than the exchange rate, and that the premium can change quickly.
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