I just educated myself again: I picked a “looks really good” route in a DEX aggregator, and with one careless slip, I set the tolerance for slippage a bit too high. The result wasn’t a fill—it was a straight-up loss to the last bite. To put it plainly, it’s not that the algorithm isn’t good; I forgot that this “depth” thing can breathe—especially when things get volatile—when the quotes feel like they’re playing hide-and-seek with you.

When I look back, there are only three things: don’t treat slippage like a safety box—the more extreme the market, the more it’s like a fishing hook; when you look at depth, don’t just look at the first level—what comes after is as thin as paper, and you still want to swallow it all in one go; in terms of timing, place orders in batches, wait for confirmation of one or two blocks before adding more—don’t assume you’re the kind of person who “instantly understands the market.” Lately, the funding rates have been so extreme that the community is all in an uproar. I don’t know whether the reversal is still about continuing to squeeze the bubble or whether it’s about to move on—either way, at times like this, I’d rather earn a little less than keep acting like a liquidity ATM. That’s it for now.