Seeing someone say "Just look at the address label to copy the homework," I really am a bit hesitant... Labels/clustering, they can be used, but don't treat them as gospel. An address labeled as "smart money" might just be good luck at that moment, or maybe they split one dollar into ten accounts, and the funds you see could also be people moving money from left to right. Anyway, I now trust "behavior" more: whether they keep adding positions, whether they frequently move in and out, and which pools they bounce between. Recently, with extreme funding rates, the group has been arguing whether to reverse or keep pumping the bubble, so I dare not follow blindly anymore. Less action, more observation; if I lose money, I’ll just consider it tuition. You say, "Then the labels are useless..." Not exactly, at most just a signpost.