These past two days, the funding rates are getting a bit outrageous again. Everyone in the group is shouting “send money.” Honestly, my first reaction was to go take the opposite side… but to be blunt, the last liquidation taught me a lesson: extreme rates don’t equal guaranteed wins—more like a reminder that “volatility is coming.” Now I’ll first shrink to a small position size; I’d rather miss the move than have my margin pierced through by a single spike. If I really do take the opposite side, I’ll only do it in batches, with stop-losses in place, and I won’t stubbornly fight it head-on.

I used to be quite obsessive—I’d always say, “I only look at on-chain [data].” When I saw funds flowing in and out, I felt like I had the truth in hand. Later, I realized emotions can press down on on-chain data and grind it into the ground… Just like those arguments over NFT royalties right now: on the surface, it’s creators versus secondary liquidity trading blows, but in essence, it’s emotions and expectations tugging against each other. In the end, what reflects on the chart is basically sharp swings—up and down. Anyway, my choice now is more or less this: when funding rates are extreme, I hide first, and wait for the volatility to play out before acting. Life matters more than face.