Buy SGOV at end of month and sell it at beginning of next month to collect state tax-exempt interests from capital lose, is that practical?

short term government bond ETF like SGOV has very high liquidity and predictable price. The price drop every month after dividend is being paid. The interest is exempt from state and local taxes.

Assuming the bond yield is 3.6%, you can wash 3.2% of your cash/margin to bond interests that are exempt from state tax. Because the wash sale rule you don't do it on December.

How realistic is it?