The pain was excruciating. I closed my position and learned a lesson. From shorting at 3.85 to now at 31 dollars, the funding fee has skyrocketed to -1.2% every hour. The funding fee alone has cost me several thousand dollars. I initially just wanted a small profit, but after three attempts, I lost on the fourth. Why? My initial position wasn't large, but my competitive spirit and unwillingness to accept defeat got the better of me, so I kept adding to my position, creating a vicious cycle. The biggest problem was that I didn't consider the funding fee reaching this level. The market makers should thank you to the eight generations of your ancestors!
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