Is there a hidden downside to staking AXS at over 100% APY and at the same time shorting it on perpetuals?

So as the title suggests I'm interested in buying and staking AXS at these generous rates, however I would also like to short maybe 80% of my spot stake for a bit of insurance on the perpetual markets, is there a hidden downside to doing this? I don't have much experience shorting on perpetuals (enough to know about not getting liquidated) but the fees don't look to bad compared to what I'd receive in APR, or maybe the fees are more than they appear? Would appreciate some feedback on this, thanks in advance.