Recently, I keep seeing people chasing after "whale addresses" to copy trades, and honestly, I’m a bit afraid of that impulse. Whether those large on-chain transactions are for building positions or hedging, just looking at the inflows and outflows isn’t enough; sometimes they buy a bunch of spot, then turn around and open a reverse position in derivatives, so the net exposure might not be as big as you think. Especially these past two days, with extreme funding rates, the group has started arguing again about "whether to reverse or keep squeezing the bubble," and I really don’t want to join the hype.

My own principle is still the same: first, review all the permissions I’ve granted, read the signatures slowly, try smaller positions, and if I’m unsure, just pretend I didn’t see that whale. Anyway, when it comes to copying trades, the easiest way to treat risk is as if "someone leading the way makes it safe"... but that’s really not the case.