Recently, the funding rates have become a bit extreme again, with half the group shouting "Isn't this just free money?" and the other half pretending to be dead and not looking at the market. I used to be quite eager to show off, seeing outrageous rates and wanting to take the opposite side, feeling like I was on the "mean reversion" side... but I often found that rates could be even more outrageous, and the volatility would shake people out first before anything else.

Now I’ve become a bit more cautious: I first ask myself if I can handle those few needles. If I can't, I simply avoid the volatility, rather miss out than fight head-on; if I really want to take the opposite side, I’ll split it into smaller parts and leave some room, instead of going all-in and competing with emotions. Honestly, extreme rates don’t mean an immediate reversal; it just means everyone is crowded at the same door.

By the way, over at Layer2, they’re constantly comparing TPS, fees, and subsidies, arguing loudly, but when market sentiment gets heated, whether the chain is fast or not doesn’t seem to save the stampede feeling of “crowding at the door”... Anyway, I’ll slow down my breathing first; as long as I can survive to see the next market move.