These days, the funding rates have become quite extreme again, with a bunch of people in the group shouting about taking the other side of the trade. Honestly, I’m tempted too... but what I’m more afraid of is getting washed out by volatility; if the drawdown curve suddenly spikes, I won’t be able to sleep. My habit is: no matter how attractive the rate is, I first ask myself, “How many big swings can I endure this time?” If I can’t handle it, I reduce my position or even avoid it altogether, preferring to earn less rather than blow up my emotional account.

And now, with new L1/L2 projects offering incentives to pull in TVL, old users complain that “mining, selling, and dumping” isn’t without reason. When the hype kicks in, there’s just too much information, and it really causes some anxiety. My filtering method is pretty simple: I only look at two things — whether the rate is ridiculously unreasonable, and whether there’s a clear influx of short-term funds on-chain. If both are true, I just consider myself blind, prioritize survival, since I’m not aiming for quick riches.