These days, the funding rates are once again becoming outrageous. I usually don't rush to be the hero. Extreme rates are indeed tempting to take the other side, but frankly, you're making money from "everyone pushing to the same side," provided you can withstand that sudden rebound/flash crash. My approach is more like a mover: first, lower the leverage, split the position into smaller parts, hedge across exchanges or chains if possible, better to lose a little than be wiped out by a sudden spike.

Recently, there's also discussion about how "expectations of rate cuts suddenly change, and the US dollar index and risk assets both go haywire." The most annoying thing is that their correlation suddenly becomes very obedient, then suddenly stops obeying... At such times, taking the other side can easily turn into a macro confrontation. Anyway, when I see extreme rates now, I first ask myself: am I trading, or just gambling on my luck? Staring at the screen until my eyes hurt and my neck stiffens—I'll leave it at that for now, wait until my emotions cool down before acting.