When funding rates hit an extreme, the group chat starts shouting "Money is coming," but I actually take my hand off the mouse first... To be honest, at times like this, it's not that I don't want to take the other side, but I know I will most likely be educated by the volatility. My habits are very old-fashioned: first, I check the holdings and margin to see if I can withstand a single spike; then I flip through the charts of open interest and unsettled positions to confirm I'm not just emotional. I only trade what I understand, and avoid the rest, even if it means missing out.

Recently, I've been interpreting ETF capital flows, US stock risk appetite, and coin prices as a hard link, which sounds lively, but I trust more the "current pressure" on-chain and on exchanges. When rates are extreme, I mostly choose to reduce leverage or simply wait and see; if I do go against the trend, I only use small positions as a way to pay tuition, for now.