Recently, everyone has been arguing about funding rates, almost to the point of a fight: is it about to reverse or continue to inflate the bubble... I just want to say, when it comes to options, the biggest thing that eats away at traders isn't the direction, but time. If you're the buyer, waking up every day with no price movement but still losing money, the time value is deducted daily like rent; if you're the seller, watching the money slowly come in feels pretty good, but once you encounter extreme rates or sudden market swings, gamma kicks in, and the "rent" you've collected might be instantly wiped out by maintenance costs. To put it simply: buyers pay the patience tax, sellers bear the black swan insurance. Anyway, I now keep an eye on the calendar before placing an order... the expiration date is more frightening than the K-line, I just can't handle it.