**[Bybit Q1 2026 Report: BTC Spot Trading Slippage Outperforms Major Cryptocurrency Exchanges]** According to Deep Tide TechFlow, on July 16, Bybit recently released its Q1 2026 BTC spot execution analysis report, showing that its "Rapid Price Improvement" (RPI) mechanism continues to outperform comparable industry data across multiple execution metrics. The report indicates that in simulated BTC/USDT spot trades ranging from $10,000 to $1,000,000, Bybit's average slippage consistently remained lower than that of two globally leading exchanges. For example, in a $10,000 order, Bybit's slippage was approximately 52% lower than Exchange A (0.01 basis points vs. 0.02 basis points) and about 84% lower than Exchange B (0.01 basis points vs. 0.07 basis points). Bybit's RPI mechanism draws inspiration from the retail price improvement frameworks widely used in traditional stock markets. Eligible spot orders can be matched with exclusive liquidity providers, enabling execution at prices better than those displayed on the public order book. Unlike some similar mechanisms that are limited to specific customer groups, Bybit extends RPI coverage to BTC and major USD stablecoin spot trading pairs, allowing a broader user base to benefit from improved execution quality. In terms of liquidity depth, during Q1 2026, Bybit's BTC/USDT market achieved an average executable depth of $10.4 million within a 5-basis-point spread, surpassing Exchange A's $5.4 million and Exchange B's $1.9 million. The analysis highlights that participation by certain liquidity providers in market-making through the RPI mechanism is one of the key factors driving the above-mentioned depth advantage. Users can access related liquidity information via Bybit's web platform, app, and the public RPI order book API. Execution quality has become one of the most critical metrics for evaluating exchange performance. Bybit combines deep liquidity with Rapid Price Improvement to continuously optimize execution efficiency and outcomes across a wide range of trade sizes.⁠​