Funding rate has been stretched to this level. To be honest, my first instinct isn't to jump in and take the other side, but to check whether I have any naked positions. Extreme funding rates are often a thermometer for emotional peaks, but a hot thermometer doesn't necessarily mean an immediate reversal—it could also keep getting hotter.

Those who take the other side are betting on mean reversion, while those who dodge volatility are betting that their luck outlasts the swings. I belong to the latter, or rather to the "survive first, settle the score later" school. Anyway, I haven't finished reading the unlock schedule yet, and the compliance debates around privacy coins are blowing up in the group chat. Going all-in with high leverage at this point—even if I win—feels like winning while walking a tightrope. No fun.

First, close unnecessary exposure. Let the funding rate be the funding rate; my sleep belongs to me. I'm going back to work.