#以太坊行情解读 Many projects' funding rate designs are unreasonable—coins like BEAT had hourly rates that far exceeded industry levels, causing the cost for short positions to soar with each day of holding. Interestingly, this extreme rate actually provided market makers with operational space: they could first absorb short orders while the short position costs accumulated to a certain level, then suddenly pump, causing losses for both longs and shorts.

In fact, this is an invisible killer. The longer the holding period, the more terrifying the compounding effect of the funding rate, especially during late-night hours or periods of low liquidity, mainstream coins like $BTC and $ETH are prone to extreme market conditions. A careless move could lead to a total liquidation.

Instead of stubbornly bearing high rates, it might be better to change your approach: shorten the holdings period, use spot to hedge derivative positions, or simply stay out and observe when rates are too high. Historical cases of losses due to rates show that being greedy for cheap can actually cost more.