๐Ÿ“Š Gap Matrix
Live premium vs Binance ยท 9 exchanges ยท 6 coins ยท click to select
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Exchange โšก XRP โ‚ฟ BTC ฮž ETH ๐Ÿ• DOGE โœฆ XLM TRX
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๐Ÿ“– What is a Global Crypto Premium?

Crypto Premium refers to the price difference when a local exchange's cryptocurrency price is higher than the global reference price (e.g., Binance). In Korea, this is famously called the Kimchi Premium. When local prices are lower, it's called a negative premium (discount).

CoinGapRadar monitors 9 global exchanges โ€” Upbit (Korea), bitFlyer (Japan), WazirX (India), Indodax (Indonesia), Mercado Bitcoin (Brazil), CoinSpot (Australia), Coinbase (USA), Bitso (Mexico), and Luno (Nigeria) โ€” comparing real-time prices against Binance for 6 major coins.

๐Ÿ“Š How to Read the Gap Matrix

The Gap Matrix shows all exchange premiums at a glance. Each cell represents the price difference (%) between a local exchange and Binance for a specific coin. Green cells indicate local prices are higher than Binance; red cells indicate they are lower.

Click any row to view detailed pricing for that exchange. Click any column header to switch the active coin. Cells flash in real-time as prices update every 30โ€“60 seconds.

๐Ÿ” Why Do Premiums Occur?

โ‘  Capital Controls: Exchange rate regulations and capital control policies prevent investors from instantly moving funds overseas, causing local prices to diverge from global rates.

โ‘ก Concentrated Local Demand: During bull markets, surging domestic buy pressure can push local exchange prices above global levels. Korea saw premiums as high as +30% in 2021.

โ‘ข Arbitrage Barriers: KYC requirements, transfer times, withdrawal limits, and conversion costs prevent instant price equalization.

โ‘ฃ Currency Fluctuations: Changes in local currency value directly impact premiums. Currency weakness typically correlates with higher premiums.

โšก Coin Transfer Speeds for Arbitrage

For arbitrage, coin transfer speed is critical. Longer transfer times mean greater price movement risk during transit.

  • XRP (Ripple): ~3 seconds, fee ~0.0001 XRP โ€” Best for arbitrage
  • XLM (Stellar): ~5 seconds, near-zero fees โ€” Best for arbitrage
  • TRX (Tron): ~1 minute, minimal fees โ€” Good
  • DOGE (Dogecoin): ~5-10 minutes โ€” Moderate risk
  • ETH (Ethereum): ~15-30 minutes, variable gas โ€” High risk
  • BTC (Bitcoin): ~30-60 minutes, high fees โ€” Not recommended

โ“ Frequently Asked Questions

Q. How often does the data update?
The Gap Matrix updates every 60 seconds via server-side API calls. Korea (Upbit) data refreshes every 30 seconds.
Q. Does a +3% premium mean 3% arbitrage profit?
No. Exchange fees (0.05โ€“0.25%), network transfer fees, currency conversion spreads, and price movement during transfer reduce actual profits significantly.
Q. Can I profit from a negative premium?
Yes. Buying on the discounted local exchange and selling on a higher-priced exchange (or Binance) is theoretically viable, subject to the same cost and timing risks.
Q. Why does Coinbase (USA) show almost no premium?
The US has open capital markets and heavy institutional arbitrage activity. Coinbase and Binance typically remain within ยฑ0.1โ€“0.3% of each other.
Q. What is the Kimchi Index?
The Kimchi Index shown in the left panel is the average premium across all supported coins on Upbit (Korea) vs Binance. It gives a quick snapshot of overall Korean market sentiment.
Q. Is this data suitable for investment decisions?
This data is provided for informational purposes only and is not financial advice. Always verify prices directly on exchanges before trading.

๐ŸŒ 9 Exchanges Covered

๐Ÿ‡ฐ๐Ÿ‡ท Korea (Upbit): World's largest XRP trading volume. Kimchi Premium can reach +50% in bull markets. Strong capital controls maintain persistent price gaps.

๐Ÿ‡ฏ๐Ÿ‡ต Japan (bitFlyer): FSA-licensed exchange. JPY weakness correlates with premium spikes. High regulatory compliance standards.

๐Ÿ‡ฎ๐Ÿ‡ณ India (WazirX): Intermittent high premiums due to regulatory uncertainty. 30% crypto capital gains tax since 2022.

๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesia (Indodax): Largest SE Asian exchange. Strong IDR/USD correlation drives volatility.

๐Ÿ‡ง๐Ÿ‡ท Brazil (Mercado Bitcoin): Inflation hedge demand creates persistent small premiums. Largest exchange in Latin America.

๐Ÿ‡ฆ๐Ÿ‡บ Australia (CoinSpot): Australia's largest exchange. Stable regulatory environment, AUD-based pricing.

๐Ÿ‡บ๐Ÿ‡ธ USA (Coinbase): Highest liquidity, institutional arbitrage keeps premium near zero (ยฑ0.1%). Closest to Binance reference price.

๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico (Bitso): Peso weakness and remittance demand drive premiums. Latin American fintech hub.

๐Ÿ‡ณ๐Ÿ‡ฌ Nigeria (Luno): Currency crises cause large NGN premiums. One of Africa's largest crypto markets.

๐Ÿ“š Related Guides & Blog

โš ๏ธ Important Disclaimer: All price information, premium figures, and exchange rate data on this site are provided for reference purposes only and do not constitute investment advice or financial recommendations. Data may be delayed up to 60 seconds and may differ from actual trading prices. Cryptocurrency investment carries risk of loss. All investment decisions and their outcomes are solely the responsibility of the investor. This site accepts no legal liability for any investment losses. Always verify the latest data directly on each exchange and consult a qualified financial advisor before investing.

Data sources: Upbit API, Binance API, bitFlyer API, WazirX API, Indodax API, Mercado Bitcoin API, CoinSpot API, Coinbase API, Bitso API, Luno API, ExchangeRate-API.com