Just now, I casually clicked into a yield aggregator's "high APY," and without looking at the numbers, I took a quick look at the routing: Moving funds isn't as simple as just depositing into one pool; there are several layers of contracts involved, and you also have to deal with some market maker/lender. To put it plainly, the returns you get might be a combination of "protocol rewards + counterparties willing to pay + execution that hasn't been eroded," and any problem in one link isn't easily explained by just impermanent loss.

Recently, there have been many complaints about validators/MEV taking too much and unfair ordering, but in fact, aggregator-type one-click operations are more likely to attract scrutiny: longer paths, wider slippage settings, and opportunities for sandwich attacks and reordering. Anyway, when I look at APY now, I first check the contract permissions, upgrade pathways, and who actually holds the funds, then see whether private transactions or publicly broadcasted mempool transactions are used for execution... It's okay to be a bit slower; at least don’t recklessly buy into risks without understanding.