Just now, I saw some contracts with extremely high funding rates... A bunch of people in the group excitedly said "The money-printing pump is here," but I felt a chill in my own hand first. Extreme rates are usually accompanied by intense emotions, and a small fluctuation can wipe people out, especially those positions that are "just one step away from liquidation," looking at them makes me tired for others. By the way, it reminded me of the recent heated debates over NFT royalties—creators want to earn more, trading platforms want liquidity, and basically it's about "who bears the friction costs," quite similar.

My own approach leans more towards: avoid if you can; if you really have to take the other side, only take small positions and place orders slowly, don’t fight head-on. When rates are extreme, the market isn’t making sense; it’s looking for blood from counterparties. You think you’re earning from the rate, but in reality, volatility can wipe out your principal, and that’s a big loss. Anyway, I’ll first check permissions/signatures, clearly write stop-loss and reduce-position conditions, and prefer to earn less rather than treat "high rates" as a free lunch. That’s it for now.