Of course, the trading volume and, consequently, the liquidity is higher on Bybit, and this is confirmed by the Coinmarketcap rating data -
https://coinmarketcap.com/rankings/exchanges/derivatives/ But nevertheless, at the moment no exchange can compare with the Binance exchange, which I would recommend for trading.
in my opinion, liquidity doesn't make much difference, we all know mots alts are low float, even more apparent when trading in futures, I could be wrong but from my experience even trading high liquidity altcoin like solana sometime causes me to have much more losses than I expected when I set SL.
This is definitely where isolated margin come into play.