Web API - Memory threshold reached during output conversion

Query API fails with 500 Error because of Memory threshold reached during output conversion

"An error occurred while retrieving the data. Details: Memory threshold reached during output conversion (rule: [queryentity expression], type: [YMXXDT4282], threshold: [1,048,576 bytes], objects successfully converted: [2,431])"

Is there any pagination option which we can use? Any insight would help a lot.

Thanks