Bybit official explained that the liquidation data is greater than other CEXs: because the platform API publishes the full amount of liquidation data

Odaily News In response to the community's concern that "Bybit's liquidation funds are larger than those of mainstream exchanges such as Binance", Bybit derivatives team member @Maxxu27 responded on the X platform: "Bybit's official API publishes the full amount of liquidation data, and all others are subject to a certain frequency limit." He then explained: "The general practice in the industry is to only spit out a certain amount of liquidation data per unit time, but once the liquidation volume is too large, it far exceeds this limit. We think data transparency is more important, so we changed it to full liquidation data." Previously, Bybit CEO Ben Zhou responded to the large-scale liquidation wave on February 3, saying that the actual liquidation volume of the industry is expected to be 8 to 10 billion US dollars.
According to previous news, Coinglass data showed that in the past 12 hours, a total of $1.087 billion of exchanges had been liquidated, of which Bybit ranked first with a total liquidation of $501 million.