These days, I've noticed that the funding rates have become a bit extreme again, and everyone in the group is shouting "counterparty arrangement." But I find it easier to choose to stay away first. To put it simply, when the rate spikes, trading is no longer just about direction; it's a combination of volatility and sentiment. If you want to take that small fee, you might get poked back and forth a few times first.

I prefer to break it down: who is paying the rate, who is collecting it, and what the position sizes are behind it. If you really want to take the other side, it's not just "go against and win"; it's more like betting on when the other side will let go. Plus, recently, on-chain data tools and tagging systems have been criticized for being laggy or misleading. I’m now less willing to blindly trust conclusions like "smart money is doing this," because even a one-hour delay can cost you dearly.

It’s tiring, but I’m still here. Today, I’ll start with small positions and observe; only step in once I understand the structure. If I don’t understand, I’ll admit defeat. Anyway, staying alive is more important than proving myself.