When the funding rate is at an extreme, my first reaction isn’t to “rush in and act as the counterparty,” but to make sure my side doesn’t fall behind on what I owe first. That feeling is like succulents suddenly being blasted by the sun—watering more often just makes it easier for the roots to rot… Put simply, when the funding rate is so ridiculously high, the market isn’t following logic; it’s comparing who can withstand more volatility.

If I had insisted on taking the other side back then, I’d usually set myself a small premise: treat this money as if it’s gone and it won’t affect my mindset; otherwise, getting jabbed back and forth with pins makes you start getting emotional and adding positions, and in the end you end up “dating” the trend. More often, I choose to duck out for a bit and wait until the funding rate returns to a normal range—making a bit less is fine too.

Recently, everyone’s been complaining that miners/validators are earning too much, and that MEV makes ordering unfair. I can relate a bit: you think you’re in a standoff with the market, but sometimes you’re actually in a standoff with “who sees your orders first”… Forget it—take it slow, don’t rush to prove yourself.