Basics · Reading the data
What is kimchi premium? Reading positive and negative gaps
Learn how Korean and overseas crypto prices are compared and which quote and FX assumptions GimpApp uses.
GimpApp · Updated 2026-09-14
In this guide
One asset, separate markets
Kimchi premium expresses how much more or less an asset costs on a Korean exchange than on an overseas exchange, in percentage terms. A positive value means the Korean price is higher. A negative value is often called a reverse premium.
Each exchange has its own order book and participants. Local demand, currency rates, liquidity and constraints on moving funds can all affect the gap. The premium alone does not predict the next price move.
The formula, with an example
Premium (%) = [Korean KRW price ÷ (overseas price × KRW exchange rate) − 1] × 100.
If an asset costs 100 USDT overseas and the reference rate is 1,400 KRW per USD, its converted price is 140,000 KRW. A Korean price of 142,800 KRW gives +2%; 137,200 KRW gives −2%. These are illustrative numbers, not current quotes.
How GimpApp sources the comparison
Domestic quotes come from Upbit and Bithumb; overseas comparison quotes use Binance USDT pairs. The USD/KRW reference comes from the public ExchangeRate-API feed. The FX card shows the provider timestamp, not a live bank conversion quote.
We assume 1 USDT ≈ 1 USD. A USDT deviation or conversion spread changes actual costs. USDT itself uses a $1 reference, which is not an executable quote.
Quotes update through WebSockets and periodic requests. Binance prices whose source timestamp is more than ten minutes old are excluded. The last-received time describes data reception, not the last trade for every asset. Maintenance and connection failures may delay updates.
What to check before comparing
Matching symbols alone do not establish that networks, token migrations and exchange support are compatible. Large gaps may reflect suspended deposits or withdrawals. Check the relevant exchange notices.
The dashboard premium excludes trading, withdrawal and conversion fees. Star the assets you follow and use the calculator to compare the gap after your own costs.
Frequently asked questions
Does a +3% premium mean a 3% return?
No. It is a price ratio. Fees, spreads, transfer time and currency conversion may reduce the result or turn it negative.
Why did a coin disappear from the table?
Search or filters may have changed, or a fresh comparison quote may be unavailable. Binance quotes older than ten minutes are excluded. Your saved star remains even while the coin is absent.
Data sources and official references: Upbit · Bithumb · Binance · ExchangeRate-API