Current BoxTrades.com Rates
This page has nothing to do with leveraged ETF strategies. It is just useful info.
A short SPX box spread lets you borrow cash through options: receive cash today, repay a fixed amount at expiration. This page shows Boxtrades.com rates for SPX boxes expiring in more than 1 year, converted to APY.
The Finance Buff explains the margin-loan comparison, Fidelity mechanics, and risks.
Smaller trades may fill at worse rates. Size-adjusted estimates use recent SPX trades; current penalty is +1.7 bps for each 10x smaller total trade size, using 4,463 observations. $50K and $200K mean cash received today, and include estimated Fidelity four-leg SPX cost of $4.60.
| SPX expiry | Loan length | APY | Est. APY @ $50K | Est. APY @ $200K | Days to expiry | Boxtrades yield |
|---|---|---|---|---|---|---|
| 2027-07-16 | 1.0y | 4.67% | 4.70% | 4.68% | 375d | 4.67% |
| 2027-09-17 | 1.2y | 4.70% | 4.73% | 4.72% | 438d | 4.72% |
| 2027-12-17 | 1.4y | 4.63% | 4.65% | 4.64% | 529d | 4.67% |
| 2028-06-16 | 2.0y | 4.66% | 4.69% | 4.67% | 712d | 4.76% |
| 2028-12-15 | 2.4y | 4.58% | 4.61% | 4.59% | 893d | 4.74% |
| 2029-12-21 | 3.5y | 4.64% | 4.67% | 4.65% | 1264d | 4.91% |
| 2030-12-20 | 4.5y | 4.62% | 4.64% | 4.63% | 1628d | 5.01% |
| 2031-12-19 | 5.5y | 4.66% | 4.68% | 4.67% | 1992d | 5.17% |
Boxtrades data as of Jul 7, 2026.