I actually really understand that state of “can’t hold spot, get liquidated on futures”—I used to fall into it all the time. Later, I figured out one thing: position management, in plain terms, is just one sentence—**before every trade you place, ask yourself whether you can sleep at night.** If you don’t feel sure inside, don’t touch it, or reduce it until you feel settled. Position size matters far more than whether you’re right about the direction. If you get liquidated, it just means you bet too much—it has nothing to do with whether you called the market correctly.

Recently I’ve seen many people put RWA, U.S. Treasury yields, and on-chain yield products in the same basket and compare them. Honestly, they each have their own logic, but I think the core still comes down to whether you can hold your position. Anyway, whenever I feel like uninstalling an exchange, I remind myself why I got in back then. Tolerate it for a bit, and it passes.