Everyone knows this: when the funding rate gets extreme, it’s like the air suddenly turning thin. Going long the opposing side can look really tempting at first, but one little wobble and you get “educated” by volatility. I usually don’t hard-counter; I first shrink my position down to a level where I can sleep at night, then check whether there’s that kind of “borrowed profit” piling up on-chain. Especially recently, people keep comparing RWA and U.S. Treasury yields with on-chain yield products… Basically, the more this happens, the more I worry about pricing distortion. If I really have to take the opposing side, I’ll only use a small position and set stop-losses in advance. I’d rather make a little less than try to save on trading costs and then use the money to “pay tuition.” That’s it for now.