These days, I’ve noticed that the funding rate has become extremely volatile again. My first reaction isn’t “front-running the other side to earn the fee,” but rather to check the price feed source, update frequency, and trading depth… Honestly, the more exaggerated the rate, the more it’s a reminder: volatility is coming, don’t expect the model to always be on your side. Doing the other side of the trade is of course profitable, but once the oracle delays or the exchange index acts up, it’s often not the other side that gets wiped out, but you, who thought you were safe. Recently, modularization and DAO layer narrative developers are talking excitedly, while users are confused. I also feel a bit the same: no matter how new the concept is, ultimately it comes down to how the data is “written into” the blockchain. When I was a beginner, I thought the fee rate was just free money; now I prefer to see it as a risk thermometer—when things get extreme, just hide for a bit, and wait until the price feed and volatility return to normal.