You're being paid 6.46% to absorb price risk. Only ~5.44% of it is real fees (the other ~16% is decaying emissions) — and they stop covering impermanent loss if FRXUSD-FXB20291231 diverges more than ±96%.
Real fee/staking yield: 5.44% · token emissions: 16% of the headline.
Break-even fact: a ±96% move in FRXUSD-FXB20291231 erases a full year of the fees you actually keep (~5.44%). Whether that move happens is up to the market — but any emissions inflating the headline will fade regardless.
Source: DefiLlama. Verdict is a heuristic over public data, not financial advice.