In the past two days, I’ve noticed the funding rate has moved to a pretty extreme position again. In the group, a bunch of people are saying they want to go do the opposite side—“collect rent.” I’ve felt itchy to try it myself too. I thought, since everyone is squeezing into one side, I might as well go the other way. Anyway, there are funding rate subsidies—sounds great. Later on, I realized the truly deadly part isn’t the direction; it’s that sudden spike in volatility. The little profit you make from the funding rate isn’t enough to cover the slap in the face from a single back-and-forth move, and your mindset breaks first.

Now I usually just avoid it more directly: keep my position smaller, rebalance slowly, and sleep is more important than proving myself. The airdrop season has everyone acting like they’re clocking in to work, and the task platform is even anti-“anti-bot” (anti-witch), so the more you get pulled into it, the more anxious you become… I’m even less willing to drag myself into this “must participate in every wave” kind of rhythm. That’s it for now.