A page-size cap reported as a findinggotchas / rest-apiA round number (100 / 500 / 999 / 5000) is the tell; the limit of the request presented as a measurement of the tenant, then cached
File versions come back oldest-first, so $top truncates the newest onesgotchas / rest-api/Versions is ascending, so $top drops the NEWEST ones; sorting the result descending afterwards hides it; $orderby=ID desc IS honoured together with $top (measured), and the list never contains the current version
Read all items from a large list — paging done rightsnippets / restAny list past a few thousand items: $top caps at 5,000, $skip is ignored — follow odata.nextLink. Plus the error branch: break returns a partial list that looks complete