2025-12-16 01:50:17

The perpetual contract community has been causing a stir these days: a seasoned trader who went long posted their liquidation slip. The direction was spot on, but due to funding rate fluctuations, they held onto the position for four days only to be wiped out, losing 800U. In the end, they got liquidated, and the next day, the market reversed and shot up 300 points.

This is a vivid example of "predicting the market correctly but dying due to trading rules."

① Funding Rate — The Invisible Vampire of Perpetual Contracts

The holding cost for both longs and shorts is settled every eight hours.

If the rate is positive, longs pay shorts; if negative, the opposite. It sounds simple, but in reality, this can silently erode your principal.

On December 10th at 4 a.m., the #加密生态动态追踪 funding rate surged to 0.18%. Holding a full long position for two days, your account was directly deducted by 3.6%. The market remained flat, and you had already lost.

Solution: If the rate exceeds 0.1% for two consecutive rounds, switch to a different contract without hesitation; for short-term trades within 8 hours, either close or switch to the side receiving funding, effectively earning "holding benefits" for free.

② Liquidation Line — Much Closer Than You Think

Don’t expect a 10% drop to trigger liquidation with 10x leverage. The platform also bears costs for maintenance margin and slippage. In reality, a 5%-7% decline can wipe you out instantly.

Recently, a newbie used full margin with 10x leverage on $BTC, and a 6% drop caused immediate liquidation, vaporizing their principal.

Solution: Use isolated margin mode, reduce leverage to 3-5x, keep more than 20% margin buffer, and set the liquidation line safely away from the trigger zone.

③ 100x Leverage — The True Harvest Tool

It looks exciting, but fees and funding rates are calculated based on "notional principal."

If you open a 1000U position with 100x leverage, the system charges based on 100,000U. When you make 200U profit, the settlement might show a loss instead, making losses no longer surprising.

Remember this: high leverage trades should be quick, closing within 1 hour; lower leverage can be held longer on daily charts. The higher the leverage, the exponentially greater the risk of liquidation.

Exchanges fear most when you bet correctly; they fear even more when you master their rules.

Learn to avoid traps first, then think about making gains — staying alive is the first lesson in the crypto world.

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FarmHopper

· 2025-12-18 22:19

Getting eaten by funding fees when you bet on the right direction—that's the show the exchanges love to watch. Holding 800U for free, then the next day pulling back 300 points—truly amazing, hilarious. Funding fees are just an invisible machine for cutting leeks; it should have been exposed long ago. The liquidation line is ten thousand miles away from what you think; 10x leverage is basically a suicide play. Don't even mention 100x; it's purely a money-absorbing tool for exchanges, they drain you before you can earn a few cents. Living first—this phrase really hit home.

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ChainComedian

· 2025-12-18 20:39

Getting it right still results in losing 800U, this set of rules is truly brilliant --- Funding fees are just a disguised way of cutting leeks, I’ve seen through it long ago --- People who leverage 100x deserve it, greed is never satisfied, like a snake swallowing an elephant --- So, isolated margin mode is the way to go, don’t be blinded by the returns --- If that guy had held on for one more day, the market would have turned, huge loss --- Perpetual contracts are just the exchange’s ATM, very clear --- A funding rate of 0.18% directly kills full-position traders this time, there’s no escape --- The liquidation line is always closer than you think, learned that again this time --- Living is more important than making money, there’s nothing wrong with that statement

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SerumSquirrel

· 2025-12-16 02:19

Putting your faith in rules is a dead end—that's the true skill of perpetual trading... Funding fees are really a silent bone-cutting knife. Consumed 800U and still instantly liquidated, are you awake? 100x leverage is just the exchange's greedy machine; with fees calculated on 100,000, you only need to make 200 to break even. Coming out alive is the real victory; don't think about going all in. If you really master these rules, you might as well go short and earn funding fees.

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ChainMaskedRider

· 2025-12-16 02:19

Getting it right but still getting trapped out, this is the dark side of perpetuals. Funding fees are way more insidious than slippage; you can't even notice the blood draining out. 100x leverage is a gambler's playground; I would have escaped long ago. Exchanges are the happiest when they see you have the right direction but haven't fully understood the rules.

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MrDecoder

· 2025-12-16 02:18

Getting liquidated for 800U in the wrong direction—that's the most heartbreaking part of perpetual contracts. This guy was basically swallowed whole by funding fees; settling every 8 hours is truly a silent meat grinder. 100x leverage is just outrageous; the exchange's meat grinder keeps turning and can't be stopped. For short-term trading, you still need to stay within 8 hours, or the funding fees will drain you dry.

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GweiTooHigh

· 2025-12-16 02:14

Damn, that's what I experienced last week. Correct prediction or not, it's a waste. Guessing the right direction doesn't help; funding fees can grind you down. 100x leverage, the exchange's meat grinder. Funding fees are settled every 8 hours, and I was just stunned. The liquidation line isn't as far as you think; beginners easily fall into traps. For short-term trades, stay within 8 hours; for long-term, lower leverage—that's all there is to it. This guy's right; staying alive is more important than making money.

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Tokenomics911

· 2025-12-16 02:01

Really, looking in the right direction is useless; the feeling of being slowly drained by funding fees is just too much. --- 100x leverage is the bloodsucker of exchanges; fees are calculated based on the nominal principal, so you can't outpace it. --- This guy has been deducted 800U in four days and still hasn't escaped. I’ve learned my lesson—if the fee rate exceeds 0.1%, withdraw immediately. --- The part about liquidation lines is absolutely correct; a 6% drop at 10x leverage will clear your position instantly. Many have died here. --- The first lesson of survival really hit home. Anyone who can survive in the crypto world for over a year should burn incense. --- Funding fees are the hidden killer. You don’t feel it when you're making money, but when you lose, that thing can be fatal. --- The isolated margin mode with 3-5x leverage and 20% buffer—I’ve memorized this combo.

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