The three major traps of contracts, each one is deadly.
1. Survivorship bias: The posts you see are all 'selected.'
The big shots you see posting their gains are all 'highlight moments' of a hundred times return. But do you know how many accounts that blew up are not shown? Just like a trader reflected: 'While we are making money using the liquidity of the exchange, when we lose, we simplify all problems into 'the exchange has problems.' It's easy to criticize others, but hard to reflect on oneself.
2. Leverage is poison; it is addictive and deadly.
Look at the funding rates of some altcoins now, which have exaggerated to an astronomical annualized -100000% (for example, coins like F, ARK, etc.). What does this mean? It means that the bearish people in the contract market have hit a wall, and the sentiment is so extreme that it has become distorted. When you think, 'Everyone thinks this way; I must be right to follow along,' it is often the most dangerous time.