how many crypto yield products are just risk arbitrage?

trying to understand the risk profile of a product is so hard

like whats the risk on a depeg on this - https://spark.fi/savings?
seems higher than the risk on lending usdc on aave, but also the yield is pretty much double right now (6% -> 12%)

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I think you can get 12% on USDc on/through Maker. That's what I saw on Zeal wallet yesterday.

I meant that Spark is a product by Maker and is the consumer brand for the 12% USDc maker DAI savings rate afaik

Oh sorry, I was under the impression Maker works like Aave. Or did you mean same percentage?