Recently, I saw someone arguing in the group whether the extreme funding rates are a reversal or just a bubble being squeezed further... I casually checked the liquidation trajectories of a few major traders' positions, and it feels like it's often more than just a matter of direction. To put it simply, once the oracle feed price has a slight delay, you might be watching the order book thinking "it's not yet the price," but the liquidation uses that reference price, which may have already crossed the threshold first. The most frustrating thing is those seconds of sudden pullback + the price catching up, during which the system processes the position according to the rules, and you're still refreshing the page. Anyway, I now open leverage more slowly and with smaller amounts, preferring to earn less rather than get caught by this kind of "time lag."