Last night I was again too stupid... Seeing the order book get lively, I wanted to jump in, so I entered a market order, and the slippage hit me hard and woke me up. To be honest, it’s not that I was wrong about the direction, but I trusted too much in the "seems deep" look—by the time I placed my order, the order was canceled, the depth looked like paper, and the execution price kept drifting.

After reviewing: First, don’t use market orders to aggressively fight during those few seconds of increased volatility, especially when the perpetual funding rate is still jumping; second, placing limit orders in two or three parts is much better than going all-in at once; third, slow down your order placement rhythm, wait until the order book re-establishes before acting, otherwise you’re just providing liquidity for others.

Recently, everyone compares RWA, US Treasury yields, and that bunch of “yield products” on-chain, and I’m also quite tempted, but thinking about last night’s slippage... no matter how attractive the yield, the entry and exit costs and liquidity are the real hurdles. Anyway, better to pull back a bit, a stronger coffee can help, but don’t get too carried away with your position.