USDT ⇄ CNY converter
Convert at real P2P prices. The amount decides which ticket-size price applies; results for each exchange are shown next to the USD/CNY reference. Advertised prices are not guaranteed fills.
Using the Small ticket price
about CNY 6,630 · priced at CNY 5,000 orders| Exchange | Sell price | You get |
|---|---|---|
| Binance | 6.620 | CNY 6,620.00 |
| OKX | 6.620 | CNY 6,620.00 |
| HTX | 6.630 | CNY 6,630.00 |
At the USD/CNY reference of 6.6866 the same amount is CNY 6,686.58; the difference is the P2P premium or discount.
Tier rule: orders under CNY 15,000 use the small-ticket price, under CNY 150,000 the medium, larger ones the large. When selling USDT, the amount is first valued at the best medium-ticket sell price. Paying a supplier? Compare against a bank wire on the suppliers page.
How the converter works
In this section · 5 parts
The converter multiplies or divides your amount by the latest P2P price on Binance, OKX and HTX for the order size closest to yours, and sets each result next to the same amount at the USD/CNY reference rate. It is an estimate before fees, not a quote: nobody is committed to these prices.
How does the converter choose the order size?
coinkiki works out every price for three fixed order sizes: CNY 5,000 (small), CNY 50,000 (medium) and CNY 300,000 (large). Each P2P ad accepts only orders between its own minimum and maximum, so small and large orders can get different prices. The converter picks a size from the yuan value of your amount:
| Yuan value of your amount | Price used |
|---|---|
| Under CNY 15,000 | Small (CNY 5,000 orders) |
| CNY 15,000 to under CNY 150,000 | Medium (CNY 50,000 orders) |
| CNY 150,000 and above | Large (CNY 300,000 orders) |
When you buy USDT you type yuan, so the size follows from your number. When you sell USDT you type USDT, so the converter first values it at the best medium-size sell price among the three exchanges, or at the USD/CNY reference if no such price is available, and then picks the size.
What the result includes and what it leaves out
For each exchange the table shows the price for that size and what you would get: USDT for a purchase, yuan for a sale. "Best result" is the exchange with the largest figure. "Few ads" means fewer than five ads met the conditions, so the price is only a rough reference. "No quote" means no ad on that exchange could take the order from a dealer with a completion rate of at least 95% and at least 50 orders. Below the table, the same amount is converted at the USD/CNY reference; the gap is the P2P premium or discount. Prices update every 3 minutes.
The result does not include:
- Fees charged by the exchange, a bank or a payment app.
- Withdrawal and network costs for moving USDT off an exchange or between wallets.
- Price moves between updates, when ads change or disappear.
- The dealer's decision. A dealer, known as a U merchant (U商), can refuse an order, add conditions or ask for extra checks. Nor can a price show whether an account will later be frozen.
Why is the P2P rate different from the bank rate?
No bank in mainland China swaps yuan for USDT, so USDT is priced on informal P2P boards while the dollar has a regulated price. The two drift apart for several reasons: individuals in China can buy only USD 50,000 of foreign currency a year at a bank without extra paperwork, so some demand for dollars spills onto the boards; exporters paid in USDT sometimes need yuan quickly; and dealers charge for the risk of frozen bank accounts and legal trouble. A bank wire is not free either: it adds a spread and charges to the reference. The China USDT premium page tracks the gap daily.
Worked examples
These numbers are illustrative, not current prices.
Selling 10,000 USDT. If the best medium-size sell price is CNY 6.60, the amount is worth about CNY 66,000, inside the medium band. At an exchange quoting 6.60, the result is 10,000 × 6.60 = CNY 66,000. At a reference of 6.72 it would be CNY 67,200, so the P2P figure is CNY 1,200, about 1.8%, lower.
Buying with CNY 200,000. This is above CNY 150,000, so the large-size price applies. At a buy price of 6.80, the result is 200,000 ÷ 6.80 ≈ 29,411.76 USDT, against about 29,761.90 at the 6.72 reference: roughly 350 USDT, or 1.2%, less.
Selling 2,000 USDT. At the same assumed sell price of 6.60, this is about CNY 13,200, under CNY 15,000, so the small-size price is used.
The rules behind each price are in how coinkiki calculates the USDT/CNY rate, and a short answer on today's going rate is in what 1 USDT is worth in RMB today.
Frequently asked questions
Is the result the amount I will actually receive? No. It is the latest advertised price applied to your amount, before fees, network costs and any change in the ads.
Why did the price change when I changed the amount? Your amount crossed CNY 15,000 or CNY 150,000, so the converter moved to another order size, with different ads and a different price.
Why does one exchange show "no quote"? No ad on that exchange could take an order of that size from a dealer meeting the 95% and 50-order conditions. The converter does not borrow a price from another size to fill the gap.
Which USD/CNY rate is used? A daily market rate from ExchangeRate-API, not the official CFETS central parity.