Binance announces USDC loan promotion '4% annual interest', can the 12% savings promotion be arbitraged?

Binance announces a 4% USDC loan promotional interest rate starting from August 15 at 16:00, valid for one month, alongside a limited-time 12% USDC savings promotion. Can the annualized interest spread be arbitraged? (Background: Binance Charity will airdrop $1.2 million worth of BNB to 'flood-affected households in southern Taiwan') (Additional context: $500 million staked in BNB! Pharmaceutical company Liminatus Pharma establishes a subsidiary 'US BNB Strategy': optimistic about the revenue from the Binance chain ecosystem) Binance launches a dual promotion of '4% loans, 12% savings' for August. Investors can complete a one-stop arbitrage by staking mainstream assets like Bitcoin and Ethereum. An annualized interest spread of up to 8 percentage points seems lucrative, but seizing the overlapping time window of these two promotions from August 15 to September 10 requires consideration of some details and risks. Promotion conditions: 4% loan plus 12% savings. According to Binance's announcement, the USDC loan promotion will start at 16:00 Taiwan time on August 15 and end at 07:59 UTC on September 16, with a fixed annual interest rate of 4%. The ongoing USDC savings activity offers an annualized return of up to 12%, from August 11 to September 9, with a single account purchase limit of 100,000 USDC (for amounts exceeding 100,000 up to 300 million, the annualized rate is 2%). The overlapping period of the two promotions is about 25 days, providing a closed interest spread for arbitrage strategies. Arbitrage process: stake, borrow, purchase, redeem. The operation logic is not complicated: Step 1, use BTC, ETH, and other mainstream coins as collateral to obtain USDC at a 4% annual interest rate on the lending interface, with a current collateral rate of about 78%. If you want to borrow 100,000 USDC, you'll need about 1 BTC. Step 2, invest the acquired USDC into the savings project to receive 12% annualized returns (currently about 11.6%). Step 3, redeem USDC after the promotion ends, and repay the principal and interest. It is worth noting that Binance has recently included USYC and cUSDO in the collateral scope, increasing funding flexibility. Key risk is price volatility. The most obvious risk is that a drop in collateral prices triggers liquidation due to LTV. If BTC or ETH experiences a sharp correction, investors may not only fail to lock in the arbitrage spread but may also lose principal due to forced liquidation. Additionally, centralized platforms carry liquidity risks such as system failures or withdrawal restrictions. Regulatory changes or even a brief decoupling of USDC could also compress the interest spread or extend the recovery period. Although the probability of occurrence is low, it should be noted. Operational Suggestions If you decide to arbitrage in this way, be sure to set a conservative collateral rate and reserve additional USDC or collateral as a margin buffer, while closely monitoring coin prices and lending rate changes. When calculating net profits, be sure to include transaction fees, redemption waiting times, and exchange costs. A rough calculation indicates that if you borrow 100,000 USDC and invest during the overlapping period of 25 days, you could potentially extract a profit of over 500 USDC. Whether this is more cost-effective than funding rate arbitrage depends on market reactions. *The above is not investment or arbitrage advice and is for reference only. Please conduct your own careful research before making financial judgments.