I raise because i think the combination of my fold equity and straight draw + overcard outs will make it profitable, is this the best way to handle this type of fishy short stack?
How can this possibly be profitable. If he has a pair, you have 7 outs to beat him for a monster shipment of 30 cents minus rake. As already pointed out, you have no fold equity to a short stack that has a third of his chips committed preflop and is betting into you.

Pick a better spot.