I used to really think that liquidation was just "when the price hits, bam," and that oracles reporting a certain value was equal to the market price, at most off by a few decimals, no big deal.

Now I realize that if the feed price is even half a beat slow, your position is like sitting in a delayed live broadcast getting hit: the on-chain price has already been broken through, you see it hasn't crossed the line yet, but the next update suddenly jumps off a cliff, the liquidation line is pierced in one go, and there's no chance to "top up the margin"... To put it simply, it's not that you calculated wrong, but that the timeline has been bent. Now when I open leverage, I first check the oracle source and update frequency, and if there's high volatility, I prefer to hold smaller positions, even if it means sleeping less. By the way, it makes me think of the kind of spiral in chain games caused by inflation and studio dumping, once liquidity is drained, the feed price gets more prone to lag, and it’s all interconnected, which is pretty annoying.