When funding rates hit an extreme, the group starts arguing about whether to act as the "counterparty."

I usually focus on execution first: Is the order book thin or thick, is the slippage large, will my order delay turn me into the one giving money to others... To put it simply, no matter how attractive the rate is, if I can't match the trade at that moment, it's useless.

If I really had to choose, I’d be more like deciding whether to go out in a typhoon: whether I can hold an umbrella isn’t important, what matters is if the wind will break the umbrella’s ribs directly.
Many times I’d rather hide from volatility, wait until the rates stabilize a bit; only when liquidity is decent and the liquidation chain doesn’t look too tight, will I gently take some contrarian positions, like standing at a crowded subway door to block a spot—don’t be too greedy.

Recently, a bunch of AI agents and automated trading are touting "full-chain interaction," sounds cool, but I care more about permissions and security—don’t authorize with a single click before bed, or your assets might turn into someone else’s lullaby when you wake up... That’s all for now.