I just saw that the funding rate has started to tilt heavily again, and that little devil inside me that thinks "making a profit by taking the other side" popped up... But my obsessive-compulsive tendencies made me put my hands in my pockets first. Honestly, extreme rates = extreme emotions. It's great to be on the right side, but being on the wrong side is like donating to volatility, and I might as well donate my sleep too.

And recently, the whole "yield stacking" of pledge and shared security has been criticized as a set of nested dolls. I also feel a bit uneasy watching it: the apparent returns look tempting, but underneath, it's all relying on everyone staying calm. When rates are extreme, stacking these yields makes me prefer to play it safe.

What I fear most is that I almost slipped and opened a position in my regular hot wallet just now. Luckily, my habit of "checking the address three times" saved me... Anyway, my current approach is basically: when I see outrageous rates, I reduce leverage and shrink my position. If I really want to take the other side, I only use small positions as alarms to remind myself not to get carried away. That's it for now.