These past couple of days, while checking the market, I suddenly thought of an old problem: if the oracle’s price feed is lagging by half a beat, your position is actually pretty passive. To put it plainly, on-chain hasn’t yet “acknowledged” how far the price has already dropped or risen—meanwhile, your margin might not be able to hold up first. Then when the price updates, it can go straight to liquidating you with a single cut, with no time to react at all… especially when volatility is high, don’t get too confident.

For now, I’m trying not to open leverage too high. I’d rather earn a little less and keep some buffer. I also ended up thinking about the recent loud arguments over NFT royalties—it’s the same kind of thing: when the rules change and liquidity dries up, the first people to get hurt are often not the ones shouting the most, but those small retail traders who don’t have time to run. Anyway, I’ll just assume I’m slow on the draw and focus on staying alive.