There are two types of strategies users can consider:
If you are bullish or bearish on a certain token for the next few months, but no particular view on short term, then you can park the fund into the vault that matches the market view to achieve 1.5x to 3x of base APY.
If your market view changes frequently, then it is best to transfer funds into different vaults periodically(you are recommended to keep the fund in the same vault till the end of next 2 settlements before making the transfer to avoid a tinny loss of immediate withdraw). If you are right most of the time, it is possible to achieve 10x of base APY. At the end of day, you should not lose a penny even if you are wrong all the time, as only the farming yield is used to open the trade, while your principal remains untouched.