Coinbase Premium is an indicator designed to display buying or selling pressure on Coinbase relative to other exchanges. Unlike many other representations of this indicator, this one calculates the premium relative to a basket of exchanges. Namely, Binance, Bitfinex, FTX, Huobi, and OKEX which makes it much more reliable.
The kimchi premium represents the difference between bitcoin’s price on South Korean exchanges and the going rate on other global trading venues.