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.
Thorchain maybe.
Easy to do through ThorWallet. And you earn 5% fees if you use referral code 658211
(Direct link: https://app.thorwallet.org/referrals?code=658211)