I'm well aware of the funding fee because I'm using it to get a micro profit based on the trend. What I don't understand is why in the hell they will charge 2000% every 8 hours. It's like you already owed the exchange with these charges because beyond your capital. Maybe you are confused about your unrealized PnL resulting from your high-leverage trading losses because sometimes the funding rate can give a huge impact on your position if you are at lose with high leverage.
I think you misunderstood him. He says the increased the funding rate by 2000% from the "normal rate" most exchanges charge
What I know is, an exchange gains nothing from the funding rate and I always knew that it keeps fluctuating depending on the market conditions. So I do see any point why they would keep theirs high unless if of course they have open positions against traders which is unknown to us