These days, the funding rates are once again becoming extreme, and many people in the group are shouting "free points." I used to like taking the opposite side, thinking that when the rate was high, I would short, and when it was low, I would go long. But it turns out you’re most likely to get wiped out during those "more extreme" phases... Honestly, extreme rates are more like a mood thermometer, not a reversal button. Especially recently, with rate cut expectations swinging hot and cold, the US dollar index and risk assets are still being compared and debated, and one macro comment outside can cause leverage inside to blow up again.

Now I prefer to "hide": reduce my position first, wait for the volatility to shake everyone out, then decide; if I really take the opposite side, I only use very small probing positions—enough to make many mistakes. Looking for signals in the mirror, whether it’s exchange activity, on-chain inflows, or public sentiment—if they aren’t all aligned, I just assume I don’t understand, and I’d rather miss out.

What I’ve learned isn’t techniques, but simply to stay alive first—don’t rush to prove yourself right.