Bybit Overhauls Options Analytics to Narrow Retail-Institutional Data Gap

The fight for crypto derivatives market share is increasingly being fought over data, not just fees.

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced an upgrade to its Options Data section aimed at reducing the analytics gap between retail and institutional traders, according to the market update.

The announcement lands at a point where options volume no longer sits on the fringe of exchange activity. Retail traders have moved deeper into options across major venues, while institutions continue to demand the granularity they would expect from traditional finance desks.

Bybit’s framing of the upgrade as a way to close that gap says more about exchange priorities than any single feature. Options liquidity tends to cluster on a small number of venues.