When the funding rate hits an extreme, I start to get a bit cautious. To put it simply, during those times it's not "more opportunities," but rather "emotions are too high." I used to like showing off by taking the opposite side, thinking I could profit from the premium, but I often got pierced by a needle and my mindset would collapse. Now I prefer to hide: reduce my position, watch the on-chain turnover rate, and if the hype is too high, just watch the fireworks and leave, wait for it to cool down before acting again. Recently, new L1/L2s have been offering incentives to boost TVL, and I understand the complaints from old users about mining, arbitrage, and selling… It’s not surprising that the rate spikes during these phases. A common misconception among beginners: high rates = free money. My current understanding: high rates = crowded people, prioritize survival, don’t force yourself to be a hero.