These past couple of days, I’ve again seen the funding rate skew overwhelmingly to one side—so lopsided it’s ridiculous. In the group, people started shouting, “Money’s being sent—hurry up and take the other side.” Honestly, my first reaction isn’t to rush in; it’s to first see whether I can hold through that middle stretch of volatility. No matter how attractive the rate is, it can’t stop a needle-like wick from punching through your position. If I really want to take the other side, I’d rather do it in layers, with lighter size, and with stop-losses—saving “ammo” for when price returns. Otherwise, I’d just stay farther away; making a little less is better than being forced into liquidation.

By the way, the community has been arguing pretty fiercely over privacy coins/mixing coins. The more they argue, the more I feel that “what’s predictable” matters more than “what’s exciting.” When the compliance boundaries are as blurry as this, the market is more likely to turn into a mood-driven trade, and extreme funding rates become even easier to distort.

Next time I run into funding-rate extremes like this, I might first use a small position to probe and hedge to keep the tail under control. Would you choose to stubbornly take the funding rate head-on, or pretend you didn’t see it?