Once the funding rate becomes extreme, my first reaction is not "rush in to buy," but to ask myself: who is in a hurry this time? Frankly, when everyone is crowded on the same side, the market loves to reflect that back to you like a mirror. I’ve tried to take the other side of the trade before, and there were a few satisfying moments, but more often I was worn down by the volatility, and in the end, the small profits I made felt like they were just recovered.

Lately, we've been talking about the expectation of rate cuts, and sometimes the US dollar index moves in the same direction as risk assets, both up or down. The more I look, the more I feel macro factors are just throwing smoke… Anyway, I now see myself more as someone "avoiding volatility" rather than a "brave warrior taking the other side." If the rate is too exaggerated, I reduce my position, set a small range for my orders, or simply watch and wait, saving some bullets for when the sentiment cools down. That’s it for now.