Recently, I’ve been watching the sandwich trades on-chain, and honestly, it leaves me feeling a bit complicated. On the surface, it looks like arbitrage, but the truth is it’s basically taking other people’s fees—especially those orders with large slippage. Once they get targeted, you’re really wiped out in an instant by a big bite. I’m not really into this kind of play; it just feels a bit… not very classy, if you know what I mean. In any case, I’d rather tweak my routing parameters more—so I can save on gas and slippage—and treat it as money I earned myself.

When the funding rate has been extremely volatile lately, the community has been arguing pretty fiercely too. I don’t know whether it’s a sign of things turning around, or if the bubble is just going to keep getting squeezed. I’m not sure—so I’ll just observe for now. Don’t rush in.