Lately, everyone has been focused on the extreme funding rates and arguing whether the market will reverse or continue to bubble.

I'm actually more concerned about a more "sinister" issue: if the oracle feed is even half a beat slow, your position might not be blown up by the market, but worn down by the time lag.
In other words, the liquidation threshold is calculated based on the feed price, and by the time the market has pulled back, the system is still using the old price.
The window for you to add margin becomes shorter, or it might even directly liquidate you.
Conversely, a delay might also let you survive a few more seconds by luck, but don't count on it.

I'm currently treating this as a "backup" approach for redundancy:
Don't put all your positions into one protocol, leave some buffer collateral, and casually check parameters like oracle update frequency and deviation thresholds...
APR looks attractive, but if the price feed stalls, it can be wiped out in an instant.
No matter how high the subsidy, it can't be recovered.
That's it for now—don't let numbers and emotions lead you astray.