These days, I've noticed that the funding rate is once again swinging wildly in one direction, and everyone in the group is shouting "Open the counterparty position." But I myself prefer to pause first. Extreme rates are often not about making money; they serve as a warning that volatility is coming. Jumping in recklessly can easily lead to being swept back and forth, and even if you win, you won't sleep soundly. My habit is: if I already have a position, I reduce a bit and keep some bullets; if I don't have a position, I prefer to wait until it returns to a normal range, even if it means earning less.

What I don't regret is choosing to hide first during such times, even if later it really moves in the direction of the rate. Anyway, if I lose, I can review what happened; if I get wiped out, there's no review to do...

By the way, recently the testnet incentives and points system have reignited people's emotions, and everyone is guessing whether the mainnet will issue tokens. Honestly, when expectations run high like this, rates tend to become more extreme, and I have to remind myself not to get caught up in the "feeling of getting rich." For now, let's see tonight if on-chain funds look like they're about to change direction.