If Binance could integrate U.S. stock accounts and allow shared margin between U.S. stock holdings and Binance, I could use my U.S. stock holdings to open short positions for hedging and earn funding fees. This way, there’s no risk of wicks, and I could use part of my $CRCL holdings to open shorts and hedge for some funding fees. An annualized 500% funding fee is seriously drool-worthy. Too bad I can only watch and not act on it. If you have holdings in U.S. stocks but open short positions on Binance for arbitrage, large positions still carry risks. If there’s a massive spike during after-hours low liquidity, the hedged short positions could face significant risks. Even though you might profit from the hedge on the U.S. stock side, the cash flow isn’t fast enough to cover the margin in time. If you get liquidated on Binance and the price drops afterward, the arbitrage fails, and you end up losing your principal—totally not worth it.