My understanding of funding rates is pretty naive: like during rush hour when everyone is fighting to get a ride, the prices are obviously outrageous. When the rate is extreme, I tend to pause first, and if I really want to take the other side, I only dare to do small positions and place orders slowly, not chasing the emotions; most of the time I just avoid the volatility altogether, waiting for it to go from "overcrowded" back to a "still breathable" range. Especially recently, with discussions about increased taxes, tighter or relaxed compliance in certain regions, and changing deposit and withdrawal expectations, people tend to get more emotional, and the rates spike wildly. Honestly, it’s not that the technology is super advanced, it’s just that people’s sentiments are too unified. What I fear most isn’t losing money, but rather knowing that this wave is a crowded trade and still insisting on proving I’m brave. Anyway, as long as I survive first, opportunities won’t come just once.