Bitget Books Second-Place Liquidity Bragging Rights as Derivatives Volume Takes a 15.7% Nap 📊

Bitget ranked second among the largest liquidity providers for crypto derivatives in the first half of 2026, according to a market report from CoinGlass. The findings come against a backdrop of declining derivatives activity industry-wide, where execution quality and order-book depth have grown more important to traders.

In Ethereum derivatives, Bitget posted an order-book size of $81.37 million within a ±1% range of the mid price, capturing 21.4% of the liquidity measured across the surveyed exchanges. That figure placed the platform behind only Binance in ETH depth. In Bitcoin derivatives, Bitget recorded an order-book size of $71.70 million within a ±1% range, representing 13.4% of total liquidity across the listed venues and ranking the exchange fourth in BTC depth.

CoinGlass also documented a downturn in broader derivatives trading conditions during the first six months of 2026. Average daily cryptocurrency derivatives trading volume fell 15.7% year over year, while open interest declined 10.0% over the same period. The report noted that the smaller drop in open interest relative to volume indicated participants continued to open and close positions even as overall activity slowed, underscoring the value of deep liquidity for execution.

The exchange has positioned its derivatives infrastructure around that demand, with order-book depth across $BTC and $ETH cited as a core metric in the latest assessment. Bitget's figures were drawn directly from CoinGlass' H1 2026 derivatives market performance report, which ranked venues based on aggregated liquidity at tight spreads. No direct quotes from exchange representatives were included in the source material reviewed.

Industry observers have pointed to tighter spreads and deeper books as differentiators during periods of muted volumes, and the latest rankings show that competitive positioning in derivatives has shifted toward platforms able to sustain liquidity at the top of the book. The full CoinGlass dataset covers the January through June 2026 window and includes order-book measurements for both $BTC and $ETH across the surveyed trading platforms.