When the funding rate is extreme, I tend to stay calmer: either everyone is crowded on the same side, or the volatility is so fast it’s like shaking people off. I used to get itchy to take the other side of the trade, but honestly, that’s not “seeing the right,” it’s tug-of-war with market sentiment, and if you can’t hold, you’ll get slapped back and forth. Now I mostly hide or only test with small positions; if I lose, I just treat it as tuition, don’t stubbornly hold on.

Recently, I’ve been talking about RWA and comparing on-chain “yield products” with US Treasury yields. It all sounds pretty good, but all I can think of is: no matter how high the returns are, a big needle can wipe out leverage completely. My habit is to walk for ten minutes before opening a position; if I still want to go all-in when I come back, I cut it in half. If I don’t want to go all-in, I close the software… Anyway, in a bear market, the safest thing is still to do nothing.