Once the funding rate becomes extreme, my first reaction isn't to "rush in and be the counterparty," but to ask myself first: Is this wave driven by emotional pressure, or is it really the news + position structure that can lift people away? To put it simply, when the rate is ridiculously high, shorting looks like easy money, but you're actually taking on the pain of "possibly being squeezed further." When the rate is negatively exaggerated, bottom fishing is the same; if you can't withstand the volatility, it's pointless.

Now I prefer to hide: turn off leverage and wait until the rate becomes less glaring before considering. If I really want to be the counterparty, I only use a small position, and think ahead about how to handle being proven wrong—don't try to tough it out at the last minute. Recently, various testnet incentives, points expectations, and guesses about whether the mainnet will issue tokens have made many people's mindsets very volatile. That's often when the rate gets pushed up... I’d rather eat less than be taught a lesson by the volatility.