I'm now encountering extreme funding rates, and it's better to stay on the sidelines for now, not rushing to be the hero and take the other side. It's not that I'm afraid of losing money, mainly I'm worried about correctly judging the direction but being educated by volatility and liquidation levels... Honestly, when the market goes crazy, logic becomes worthless, and leverage is what really matters.

If I really had to take the other side, I would also be very cautious: small positions, staggered entries, preferring to miss out rather than force through. Extreme funding rates often coincide with emotional peaks; when social media is full of "it's stable," I reflexively want to withdraw—just don't treat me as liquidity.

By the way, looking at the current L2 crowd arguing about TPS, fees, and subsidies—everyone's bragging, but whether the chain is hot or not, whether the chips are loose—that's what really matters. Anyway, when the funding rate reaches an exaggerated level, I’ll hold back and take a sip of water, waiting for everyone to cool down before talking.