my funding + oi checklist before i touch any perp
ok so i've been trying to be less of a chart goblin and more of a data goblin this year. figured i'd dump my little pre-trade routine here and see what everyone else is looking at, because i'm 90% sure i'm missing something obvious.
basically before i open anything with leverage on it i go through the same four things:
1. funding. not just "is it positive or negative" but how long has it been that way and how hard. a mildly positive rate that's been grinding for days tells me something different than one that spiked once.
2. open interest vs price. this is the one i actually care about most. oi climbing while price grinds sideways makes me want to size down, not up. that's the setup that's stopped me out for stupid reasons more times than i want to admit.
3. where the obvious liq levels sit relative to my entry. i'm not pretending i can see the book, but the round numbers people cluster at are not exactly a secret and i'd rather my stop not be sitting in the exact same puddle as everyone else's.
4. spot vs perp. if perps are dragging spot around i treat the move as more fragile.
the thing i keep tripping over is timeframes. funding updates on its own schedule, oi i'm eyeballing continuously, and my actual holds are anywhere from an hour to two days. so half the time the data i'm reading is describing a market state that already ended by the time i click. i've started only refreshing the funding read at set points instead of staring at it, which helped my brain but i'm not sure it helped my entries.
also curious how people handle this on the less liquid pairs. all this stuff feels informative on majors and feels like pure noise on the smaller alt perps, where oi can double because three people showed up. do you just not trade those, or do you keep a separate mental model for them?
not asking anyone what to buy, just want to know what's actually on your dashboard and what you've learned to ignore.