On $RAVE this coin, I was very lucky this time and made some profit.

Originally, I was in a fee rate squeeze, buying spot on Gate, shorting on perp DEX to earn fees, and also earning over 100% APR on the Gate savings account, thinking I could double my gains.
Because it’s a妖币, I only opened a 10,000 position, but things quickly got out of control afterward.
The price directly surged fourfold, and Gate started restricting redemptions on the savings account.
Since the fee rate turned negative, the spot was borrowed by arbitrageurs to short, and I could only redeem once they returned the funds.
Later, as the required margin increased, I had to close the short at 3.6.
Then I spent the whole day watching my Gate financial account, waiting to see when I could redeem.
I was prepared to lose money, thinking that only after the main players fully exit would arbitrageurs return the spot.
Unexpectedly, when I refreshed yesterday afternoon, they had all been redeemed.
So I quickly sold the spot at a price of 9.6, which meant I made a profit of 9.6 - 3.6 = 6.
That feeling of flying from hell to heaven was truly exhilarating.
Actually, over this year, I’ve encountered quite a few manipulated妖币 that are controlled, losing quite a bit, and I’ve also read many analyses.
Combining my experience, I’ve come to the following conclusions:
1/ Betting on short-term longs and shorts on futures is like the market maker watching your cards and playing against you, with negative EV—don’t play.
Because of high control, market makers can manipulate the market in the direction of the majority of traders.
2/ If you really want to play, my suggestion is to buy some spot as a lottery, because it won’t be targeted for sudden liquidation, and you won’t have to bear high negative fees.
And when the high negative fee rates come later, you can earn up to 349% annualized yield on Gate savings.
3/ Don’t try to guess the top to short; as long as the market maker still makes a profit, they won’t withdraw.
It’s destined that you can’t guess the top, and they can manipulate prices to adjust fee rates.
Even if the price is sideways, with fee rates changing once an hour by -2%, in 12 hours, they can wipe out your principal—something you can’t withstand.
4/ To find such coins, pay attention to fee rates, because market makers need time to build long positions at the bottom.
You might see a situation where the price hasn’t taken off yet, but the fee rate remains positive and high for a long time, which can be one of the screening indicators.