Over the past two days, I’ve noticed the funding rate has gotten a bit extreme again, and in the group chat, a bunch of people are asking whether to go and be on the counterparty side—basically, whether to place opposing positions. To be blunt, I personally prefer to dodge the volatility first: even if the rate gets more than exaggerated, it doesn’t mean an immediate reversal, especially when meme coins and celebrities are shouting for attention, causing attention to rotate like crazy. The market can stay unhinged for longer than your account can handle… and the old-timers telling newcomers not to catch the last pass really isn’t just for show.

If I really were to take the counterparty side, I would only do it with a small position and wait until the emotions are clearly dulled before trying slowly. I’d rather miss out than force it. Last night, a friend was still over there getting excited and screenshotting, and I replied to him with one line: don’t treat the funding rate like a signal light—it’s at most a “road ice warning.” Either way, I’m lowering my leverage today and will talk again when the wind dies down.