I have a drawn pledged asset line worth \~20% of my assets held at a brokerage. The drawn amount is roughly 38% of my PAL capacity. I am looking to transfer that brokerage to IBKR to get cheaper leverage via margin and box spreads.

Has anyone navigated this before without completely unwinding their PAL position / selling down stock? I’m relatively illiquid outside of this brokerage account. Trying to avoid cap gains.