IBM XIV Lun size and Size Seem by Vmware do not match

We have multiple IBM XIV in our environment what I have noticed in our ESXi 6 Vmware environment is that it VMware does not see that same LUN size are provisioned in the XIV. For example, On the XIV I LUN size of 5.3TB would be provisioned but would only show as 4.8GB in VMware a difference of 500GB. Is a size difference this large normal?  I am concerned about wasted space with large LUN's.
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andyalderSaggar maker's framemakerCommented:
Storage vendors quote capacity in Terabytes / TB (1,000,000,000,000 bytes), OS vendors quote it in Tebibytes / TiB (1099511627776 bytes).

For example HPE state "For hard drives, 1GB = 1 billion bytes" on the bottom of their quickspecs.

5.3TB is 4.8 TiB so you have not lost any space.

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