After a more careful review (still doing my research), the APY is only that big if I put the range really tight, which means I would probably have to keep reseting the position every time the price between EURC and USDC changed more than 1%... which happens a lot :/

Fees are low on base, but still high enough to hurt long term, and I would basically have to babysit the position.

Maybe not a good option to use a loan for this...

Need to research other protocols like moonwell and velodrome.