Recently, everyone has been arguing whether the extreme funding rates are about to reverse or if the bubble will continue to be squeezed.

I'm actually more concerned about one painfully obvious thing:
The order you place, who sees it first, the sequence in which it gets inserted into the block, and when it’s truly considered non-reversible.
The more terms there are, the easier it is to get confused—actually, just focus on one line of thought:
Can the data be accessed by everyone in a timely manner (otherwise, you might think you're on the same chain, but the information isn't synchronized),
and who is in line to process it (the front-runners love to manipulate this),
and finally, how firm is the certainty after the block is confirmed (if it’s soft, don’t be too confident).
My own approach is simple: the more extreme the rate, the less I chase the price.
First, test the routing and slippage with small orders to see if there’s any inexplicable extra cost…
Whether it’s paranoia or not, at least reproducing it makes me feel more at ease.