Bitget grabbed the second spot in crypto derivatives liquidity for the first half of 2026, according to a CoinGlass report. The ranking lands during a period when overall derivatives trading activity fell across the industry. The report suggests that as volumes shrank, execution quality and depth became more important differentiators.
How the ranking was determined
CoinGlass compiled the ranking based on derivatives market performance in H1 2026. The report measured liquidity across major exchanges. Bitget's second-place finish places it behind only the top exchange.
Industry-wide decline in derivatives activity
The report notes that overall derivatives trading activity declined during H1 2026. The drop was broad, affecting most exchanges. The exact percentage isn't specified in the report, but the trend is clear: less volume flowing through the market.
Why liquidity matters more now
With trading activity down, the quality and depth of execution became more important. Traders likely prioritized exchanges that could handle larger orders without slippage. Bitget's strong liquidity ranking suggests it maintained or improved its order book depth during the slump.
The report covers H1 2026. The second half of the year will show whether the trend continues or reverses. Bitget's position may be tested if trading activity picks up or if competitors improve their liquidity. The next CoinGlass report covering Q3 2026 will provide an update on whether Bitget can hold its ranking.
