2026-01-22 16:00:16

#数字资产市场动态 In perpetual contracts, correctly predicting the direction doesn't necessarily mean you'll make money. Sometimes, it's not about poor judgment, but about being silently eroded by the market's implicit rules. Today, I want to discuss three of the most common pitfalls.

**The first pitfall: The soft knife of funding fees**

This fee is deducted every 8 hours. Once the rate stays positive, longs must keep paying. Interestingly, your judgment might be completely correct, and the charts may align, but if you hold on without adjusting, that tiny profit will be gradually eaten away by the fee rate. What to do? Keep an eye on the fee rate sentiment at all times. Don't go long when the rate is artificially high. The best approach is—enter and exit quickly, and don't let time become your enemy.

**The second pitfall: Liquidation price is more aggressive than you think**

Many believe that a 10-20% drop is dangerous? Actually, it's much more than that. When you factor in hidden costs like transaction fees and maintenance margin, the real liquidation price is often much closer than what you calculate with a calculator. The consequence of full leverage is—market small tremors can wipe out your account. It's recommended to use isolated margin mode, with leverage between 3 to 5 times. Leave enough buffer for your margin, and don't push yourself into a dead end.

**The third pitfall: Leverage is a double-edged sword**

100x leverage sounds tempting, right? But the reality is—fees double, funding fees double, all coming at you. A common illusion is: your prediction is correct, the market moves as expected, but when you open your account, you find you haven't made much profit, or even incurred a small loss. The logic is simple: high leverage is only suitable for short-term fluctuations. If you want to survive longer in this game, you need to rely on low leverage to extend your lifespan.

Ultimately, many people don't lose because of poor judgment, but because they ignore the rules. The market isn't afraid of your intelligence; it's afraid that you haven't truly mastered every underlying logic of the game.

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RamenStacker

· 22h ago

Funding fees are truly the silent harvesters; I really dislike the feeling of being right about the direction but being worn down by fees. --- Honestly, high leverage is a trap. Doubling the fees also doubles the funding costs, and in the end, the account ends up losing instead of gaining. --- The liquidation price is the most deceptive part, with a bunch of hidden costs. Full position is really suicidal. --- It's not that your vision is poor; the contract rules are designed to eat your profits. You need to learn how to play by the rules. --- 3 to 5 times leverage is much more stable. Why gamble with 100x? --- I've used the quick in and out trick before, and it really helps avoid many funding fee pitfalls. --- The most heartbreaking thing is being right about the direction but still losing money—that's the magical part of contracts.

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RiddleMaster

· 22h ago

It's the same old story, everything sounds right, but only through painful lessons can you truly understand when it comes to execution. --- I've seen too many people fall for the funding fee trap, thinking that if the direction is correct, they can just sit back and win, only to be eaten away until their mentality explodes. --- Regarding the liquidation price, I want to say that most people haven't even calculated their true liquidation point, and that's the most terrifying part. --- 100x leverage is just a lure; unless you're really just exploiting very short-term fluctuations, you're basically committing suicide. --- It's easy to say, but in reality, not many truly understand the rules; most are just gambling with luck. --- This article is saying that the main reason people can't make money isn't their judgment ability, but rather being drained by hidden costs. --- In the perpetual game, quick in and quick out is the key; holding onto positions without action is like working for the exchange. --- The higher the leverage, the more dangerous it is. This has been proven a million times, but some still keep trying.

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HodlAndChill

· 22h ago

Damn, the funding rate is truly silent, I got cut by it several times. Even when I pick the right direction, I end up losing money. This game is really f***ing frustrating. The rate is artificially inflated and yet everyone is still going long, it's just giving money to the exchange. 100x leverage sounds sexy, but in reality, you're just getting eaten alive by fees. The liquidation price is always closer than you calculate, I’ve experienced this deeply, brother. Quick in and quick out is the way to go, don’t get stuck fighting time. Low leverage prolongs your life, it’s the most practical thing. Maybe this is the real reason why you can’t make money; it’s not just about choosing the right side. The rules are more ruthless than the market itself.

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pvt_key_collector

· 22h ago

Funding fee this thing is really the absolute, no matter how tight you watch, you're still being slowly cut. --- I said why high leverage can't be enjoyable, with fees and funding fees cut together, there's basically no profit. --- I've been burned on the liquidation price, the calculator's calculations are completely illusory, hidden costs are frighteningly high. --- Fast in and out is the truth, don't expect to survive from the fee rate. --- 100x leverage sounds great, but waking up to no account, that's the reality. --- Basically, it's being beaten by the rules, no matter how good your vision is, it's useless. --- Adding 3 to 5 times leverage in isolated margin mode, everything else is just sending money.

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MoonBoi42

· 22h ago

The fee rate is really a soft knife; even if you get the direction right, profits will be eaten up by time. --- I’ve been burned by the liquidation price; the numbers calculated by the calculator can really be deceiving. --- 100x leverage is a gambler’s game; the transaction fees will directly cut your profits. --- In simple terms, if you don’t understand the rules thoroughly, no matter how much you earn, it’s all in vain. --- Holding a long position without letting go is the most painful, being deducted blood every 8 hours. --- Isolated margin of 3 to 5 times is indeed safer; don’t be reckless and go full margin. --- Getting the direction right can still lead to losses; the rules of this market are truly sinister. --- I’ve seen the magical scenes of high leverage; even if you win, you can’t make money. --- Funding fees are like a silent vampire; quick in and out is the way to go. --- The market isn’t afraid of your intelligence; it’s afraid that you truly understand the game rules.

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Web3ExplorerLin

· 22h ago

hypothesis: funding rates operate as a decentralized tax mechanism... the oracle networks disguised as market mechanisms, quietly extracting yield from the uninitiated. fascinating parallel to how ancient toll roads operated—you're right about direction but the road itself bleeds you dry.

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