The funding rate has been wildly extreme lately, and my brain is like it got forced into clicking a “version update”: from “wanting to go grab some meat off the counterparty” to “better not be reckless with your hands.” In plain terms, the more outrageous the rate, the more it feels like emotions are just putting on a self-entertainment show. Going against it might get you some drawdown you can take advantage of, but more often you’re just getting slapped back and forth by the volatility—fees plus slippage stack up, and your mindset straight-up drops to an older version.

My current choice is more “to dodge”: I cut my position down to that kind of level where it doesn’t mess with my rest. If I really want to take the counterparty side, I only use a very small amount for trial and error, and I think through in advance how I’d retreat if things turn for the worst. Especially these last couple of days, with that main public chain upgrade/maintenance happening—people in the group have been guessing whether the ecosystem will migrate, so it’s even easier for emotions to get led around by the rhythm. Anyway, I’d rather miss out than squeeze into the fun when the fee situation is the loudest. That’s it for now.