$2 x^2 y^2 + 1.5-(x^2 - 1)^2 - (y^2 - 1)^2=f_1f_2f_3f_4f_5$

WolframAlpha

$f_1=\frac{\sqrt{x^{2}+\frac{1}{8}}+\sqrt{y^{2}+\frac{1}{8}}-1}{\sqrt{x^{2}+\frac{1}{8}}+\sqrt{y^{2}+\frac{1}{8}}+1}$

$f_2=x-\sqrt{\left(1+\sqrt{y^{2}+\frac{1}{8}}\right)^{2}-\frac{1}{8}}$

$f_3=x+\sqrt{\left(1+\sqrt{y^{2}+\frac{1}{8}}\right)^{2}-\frac{1}{8}}$

$f_4=y-\sqrt{\left(1+\sqrt{x^{2}+\frac{1}{8}}\right)^{2}-\frac{1}{8}}$

$f_5=y+\sqrt{\left(1+\sqrt{x^{2}+\frac{1}{8}}\right)^{2}-\frac{1}{8}}$