The significant fall of LIGHT is often more heartbreaking than the market itself, as the traps are more painful. Some market makers are like players obsessed with a classic game, repeatedly refreshing the same traps – this has become their instinctive response.

First, short the retail investors, then play tricks with the funding rates. By the time everyone reacts, it has become a new round of trap. This is the current situation without adequate market regulation - so stark it is suffocating.

The issue of funding rates has been analyzed before. It seems that some people can go long to hedge, and some can position for shorts, but in reality? When you actually enter the market, you will find that the rules of this game have never been written down on paper. Retail investors are always chasing, while smart money is always fleeing. The contract market is essentially a war of asymmetric information and capital, and the graveyard of many armies is self-evident.