Funding rates are data, not just a fee

I treated funding as a cost line for a long time. It's also information. It tells you which side is crowded and how much they're paying to stay there. Doesn't mean fade it blindly. Crowded can stay crowded for a long time and the people paying can be right. But if your strategy is directional and funding is screaming that everyone agrees with you, that's worth knowing before you size up. Cheap signal, already in front of you, mostly ignored because it arrives disguised as an invoice.