These days, the funding rates are once again spiking to extreme levels. Someone in the group immediately wants to rush in and take the opposite side to earn the fee, but I’m actually a bit hesitant… Frankly, extreme rates are often not “free money,” but more like someone using leverage to pile up a powder keg. If I were to do it, I’d only take a small position, first keep the liquidation price further away, and watch the open interest and large transfers for any sudden anomalies; once I see signs of concentrated deposits or cross-exchange arbitrage, I’d withdraw immediately, even if it means earning less.

And now, the L2s are arguing every day about TPS, fees, and subsidies. It’s lively, but once subsidies kick in, liquidity becomes more restless, and rates are more prone to fluctuations. Anyway, my main choice is to avoid volatility, wait for the market sentiment to settle down, and not fight the market. Also, don’t argue in the group chat—just manage your risk well.