Just finished brewing coffee and checked the market chart—the funding rate has once again drifted to that extreme where it feels like, “if you don’t pick a side, it’s like you’re missing out on a love story”… to be honest, I’m pretty timid. At times like this, either you go against the opposing side and gamble that sentiment will revert, or you simply hide in spot / low positions and wait for the volatility to cool down.

“Counterparty/opposing order flow” sounds romantic, like finding a tiny bug in an audit: you think it’s an Easter egg, but the next second it could be the same tragedy replaying. Especially now, when L2s are arguing every day about TPS, fees, and subsidies—after all the noise, it’s really still emotions driving people to pile on leverage. I personally don’t want to be fuel at a moment like this.

My usual approach is: if the funding rate is extreme but the structure isn’t broken, I’ll just use “the small amount I can afford to lose” to test it against the wind; if the on-chain liquidation vibes are too strong, I’ll stay away—better to miss out than to have volatility turn it into poetry. That’s it for now.