Waterline impossible?

I’ve dug around and found close to nothing regarding waterline for Unity. I want to achieve a first person waterline effect but I have no idea where to even begin.
Example

The only thing I could find was to create two cameras, one above the water and one below.

But with HDRP not recommending two cameras due to performance, is this effect impossible to achieve?

There is a boatload of stacked things going on here.

i’d start by breaking your task down.

above below volumes
reflections and caustics.
refractions
Waterline transition.
additional screen space VFX

for the waterline itself, you may need to have your shader know the world Height transition between in and out of your water. and create a stencil/ mask to blend/lerp between the two volumes.
One of these volumes it likely better to be local around your camera.

this way it should also affect waves.
some kind of “from view” could be applied to help start the local blur of the specific transition line.

Crest ocean system appears to have a pretty good implementation of this too, just without the “blur”
https://crest.readthedocs.io/en/stable/user/underwater.html?rp=birp

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