Just watched the funding rate spike to a level that’s a bit absurd again—people in the group immediately want to take the other side. I, on the other hand, kind of want to dodge the volatility… To put it plainly: when the funding rate gets extreme, everyone acts like they’re holding a microphone onstage yelling, “This song is definitely going to be a hit,” but with the wind blowing hard in the audience, singing off-key is also normal.

Recently, everyone keeps watching for big on-chain transfers and unusual movements between exchange hot and cold wallets, and it’s all “Smart money is coming/is about to run.” My current update is: don’t treat these like the BGM for a plot twist—treat them more like noise alert sounds. When the funding rate is extreme, I’ll test with a small position, or just close the trading screen and listen to something else until the mood cools down. Either way, I don’t really want to grab the mic when everyone’s at their most hyped.