Funding rates are at an extreme, and the whole market has that unmistakable “either you die or I do” vibe. I generally don’t choose to trade against the counterparty order book—I try to dodge volatility. To put it plainly, when you trade against the order book at a time like this, you think you’re playing a game with the market, but in reality you’re wagering against your own emotions. On the mirror screen, it’s all faces of your own cold sweat.

Seeing everyone discuss social mining—fan tokens, attention being mined—sounds lively, but it always feels like an emotional refractor. The more you stare at it, the more it makes you feel like you can mine gold. The signal I really care about isn’t how high the funding rate is, but whether on-chain capital flows are quietly switching direction. On the data charts, every so often there are one or two large transfers—that’s my “signal.”

In any case, stay out of the way first. Wait until the storm passes and the seas are calm, then pick up a little bit of debris—staying alive matters most.