Recently, everyone has been watching the extreme funding rates, with some shouting about a reversal while others say the bubble is still being squeezed.

I'm actually more interested in another "signal": whether time is quietly collecting taxes.
Options buyers are essentially racing against time; even if the market doesn't move, they still lose money.
Sellers are like running a "time toll station," collecting a toll every day, but you have to bear the risk of a sudden acceleration or sudden braking.
Many people only focus on the direction, but in fact, who is losing time value depends on which side you're on.
Anyway, whenever I see volatility spike, I get itchy to sell, but I'm also afraid of black swans...
I'll clear the authorizations and calm down before making any moves.