Honestly, when I see extreme funding rates, my first reaction isn't "buy in," but rather to pause first: Is this wave driven by emotion, or is there really sustained buying/selling pressure on-chain?

Many times, when the rate is ridiculously high, taking the other side looks very tempting, but that stage of "it can get even more ridiculous" is also quite torturous.
I'm not even sure if I can hold up or not.

Right now, I lean towards two options: either small positions to test the other side, provided that liquidity and liquidation zones don't look too scary; or simply avoid the volatility and wait until the rates return to normal.
Especially lately, with meme and celebrity calls shifting attention, veteran traders advise newcomers not to take the last step... I find that quite relatable.
Anyway, first check permissions, then look at the narrative—don't treat yourself as fuel.