I just heard a friend "confess": seeing the funding rate being one-sided, he got impulsive and wanted to take the opposite side of the trade, but when the volatility hit, he was wiped out first, and in the end, he blamed himself for lacking conviction... I just asked him, are you really trading, or are you gambling with the crowd's emotions? Recently, there's been a surge of social mining and fan tokens, loudly proclaiming "attention is mining," which makes emotions even easier to escalate and hands itch more.

My habit is: when the funding rate is extreme, I first assume I don't understand who is crazier in this wave. If I really want to take the opposite side, that's fine, but the position should be small enough that "being wrong doesn't affect my sleep," leaving enough room to retreat; otherwise, just avoid the volatility. Earning less is better than fueling emotions. To put it simply, extreme funding rates are not an opportunity in themselves, but a reminder: everyone is very excited now, so don't lose your sense of rationality by following along.