These past two days, I’ve been watching the funding rates. Sometimes they spike in a pretty wild way, and it starts to mess with my head: should I go take the opposite side and pick up some cheap deals, or just stay away and not touch it? To be blunt, I’m more afraid of developing itchy hands—once I get carried away, I end up becoming the kind of person who hands money to the market. When the rates get extreme, it can look like a “free handout,” but once volatility kicks in, it blows up fast too—especially that little bit of leverage trick, which really can’t hold up against the stress.

Right now, I mostly choose to reduce my position or just stay on the sidelines. If I really do participate, I’ll use spot or very small hedges so I leave myself some space to regret. Recently, that whole “yield stacking” routine—this time involving shared security—has also been criticized as a layered doll. Listening to it makes me even more cautious: stack too many layers, and it feels like the risk stacks up too. Anyway, that’s just how I am—do less, watch more. If I miss out, I miss out; at least I can sleep at night.