The market is like a roller coaster without safety rails, thrilling enough to make adrenaline surge, but also dangerous enough to wipe out your capital.

Getting on: Leverage is your "accelerator ticket"
When you board this roller coaster (open a position), you can choose an "accelerator ticket" (leverage).

10x ticket: The roller coaster speeds up 10 times, the scenery (profits) looks more exciting, but a sharp turn could throw you off.

100x ticket: Speed skyrockets 100 times! You feel like Superman, but any tiny bump (price fluctuation) could be fatal.
Seatbelt: Funding rate
This roller coaster has a peculiar rule: to keep the car’s speed in sync with the main track (spot price), the riders have to pay each other.

When there are too many people trying to go up (longs), they have to pay the "congestion fee" (positive funding rate) to those trying to go down (shorts).

When too many are trying to go down (shorts), they pay the "traffic jam fee" (negative funding rate) to the longs.

This fee is settled every 8 hours. If you pick the wrong side, this ongoing expense will keep eroding your principal.

Crash: Liquidation

This is the most terrifying part of the roller coaster. There are no brakes, only a "drop point" (liquidation price).

If you used a 100x leverage ticket, just a 1% adverse price movement and your seat will vanish, your entire position (principal) will plummet from the heights, instantly wiped out.

Even if the price later hits a new high, it’s no longer your concern because you’ve already "got off."

Ghost track: Needle insertion

Sometimes, at midnight when liquidity is at its worst, the roller coaster suddenly experiences an unpredictable, extremely deep "fake fall" (liquidity spike).

This "fake fall" may last only a few seconds, with the price plunging and then bouncing back instantly.

But for high-leverage players, these few seconds are enough to trigger the "drop point," ejecting you from the ride, and then the price returns to normal as if nothing happened. It feels like being targeted maliciously by a ghost on the track.

The ending: a game for the few
Most people don’t make it to the end of this roller coaster. Data shows an annual loss rate of 98.7%, meaning fewer than 2 out of 100 players can survive a year.

It’s both a "wealth expressway" in the crypto world and an efficient "wealth crusher." For professional traders, it’s a precise hedging tool; but for retail investors chasing quick riches, it’s more like Russian roulette.