A novel 4K video frame interpolator based on bilateral transformer (BiFormer) is proposed in this paper, which performs three steps: global motion estimation, local motion refinement, and frame synthesis. First, in global motion estimation, we predict symmetric bilateral motion fields at a coarse scale. To this end, we propose BiFormer, the first transformer-based bilateral motion estimator. Second, we refine the global motion fields efficiently using blockwise bilateral cost volumes (BBCVs). Third, we warp the input frames using the refined motion fields and blend them to synthesize an intermediate frame. Extensive experiments demonstrate that the proposed BiFormer algorithm achieves excellent interpolation performance on 4K datasets. The source codes are available at https://github.com/JunHeum/BiFormer.