Zerodha margins pledge- liquid bees ETF VS liquid Mutual funds

Hi Nitin bhai,
I want to know is better to put margin money ( pledged ) in liquid bees ETF or liquid fund ( now available on zerodha ) considering

  1. 50% cash margin rule is not applicable to liquid bees ETF , is it applicable to liquid fund. or not ? ( whether iliquid ETF is at par with cash like liquid bees or will be treated as stock) .
  2. Return on liquid bees is lower than liquid MF but if I will have to pay interest of 18% on liquid MF pledge used as margin above 50% limit it will be useless.

Liquid funds are treated like cash similar to liquid bees.

Above reply should answer this.