Bybit makes data on all liquidations public
Bybit Enhances Crypto Transparency with Real-Time Liquidation Data.
Bybit has taken a significant step forward in improving data transparency for cryptocurrency liquidation volumes.
The exchange now offers a new WebSocket topic, “All Liquidations,” which provides real-time, comprehensive data on both LONG and SHORT position liquidations.
Bridging the Transparency Gap
Previously, Coinglass reported that real liquidation volumes on volatile days could be up to five times higher than their displayed figures due to API limitations. On February 3, Bybit’s CEO stated that the actual volume of liquidated positions across the crypto market likely exceeds $8–10 billion, while data from Coinglass had shown lower amounts. Bybit’s internal systems have now been updated to overcome these limitations, and the exchange has made all liquidation data public. This development means that users can now access precise liquidation information, enhancing market transparency significantly.
The new “All Liquidations” WebSocket topic differs from the previous system, which capped reporting at one message per symbol per second. With the updated feature, every applicable liquidation is reported in real time, allowing analysts and traders to monitor liquidations more accurately. For example, over the past 24 hours, long and short positions on Bybit alone have been liquidated for more than $2.1 billion, a figure that can now be tracked without the previous data constraints.
Industry Impact and Future Prospects
CoinGlass has already updated its interface to reflect these improved data feeds, further supporting a push for enhanced transparency in the crypto market. The initiative raises an open question for competitors: when will Binance, a major player in the industry, follow suit and make all its liquidation data public?
As the industry continues to demand higher transparency standards, Bybit’s proactive approach may set a new benchmark for crypto exchanges. With more accurate liquidation data available, traders and regulators alike will have better tools to understand market dynamics and potential risks.
Recently we wrote, that Bybit's CEO, Ben Zhou, has pledged to provide full access to liquidation data after revealing that the total market-wide liquidations on February 3 could be $8B-$10B.
