These past two days, I’ve seen the funding rates turn extremely volatile again. I usually don’t rush to be the “smart counterparty.” To put it plainly, when the rates get ridiculously high, yes—there really are people who can profit by taking the opposite side, but a tiny move in volatility can snap them awake… what I do more often is first avoid it: reduce my position size, don’t take a direction that’s too heavy, and I’d rather make a little less than get liquidated and “educated.”

Especially now, with the whole re-staking and shared security “yield stacking” being blasted as a nested set of dolls, I’m even less willing to add leverage in a high-fee environment—it just feels like the bait is a bit too strong. If I truly want to try, I only use a very small amount to poke at the mechanism, just to see whether there are traps in the fees, slippage, and settlement.

The extra step I’m willing to take for safety is also kind of old-fashioned: every time I switch to a new protocol, I clear out all authorizations, and I split the address into two. It’s a hassle, sure, but it helps me sleep at night. Anyway, for someone like me who does “sofa mining,” living longer matters more than running fast.