I also enjoy the narrative of re-pledge/sharing security; the layered yields are indeed very attractive.

But don’t casually turn “stacked yields” into “stacked certainty.”
To put it plainly, security isn’t Lego; stacking too much can still cause it to fall apart.
Recently, the funding rates have been extremely volatile.
In the group, people are arguing whether to reverse or continue squeezing the bubble.
I just feel that everyone’s emotional leverage is higher than their positions…
If I could only keep one habit:
Take the profits from the narrative first, don’t wait for the wedding.