На краю- on/at the edge, опасность- danger. But i doubt it s a nice combination in russian.

so it's not used this way?

Why not? Everything is possible in the modern language. Like an experiment.

l appreciate your optimism

It means danger is very close to you. How do you say this?

you are on the brink of / on the edge of danger

So, quite literal

Or sometimes it's enough to say (LIVING) ON THE EDGE

Thanks)