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 +0.0 bps for each 10x smaller total trade size, using 5,340 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 |
|---|---|---|---|---|---|---|
| 2027-09-17 | 1.0y | 4.82% | 4.83% | 4.83% | 377d | 4.83% |
| 2027-12-17 | 1.3y | 4.81% | 4.82% | 4.81% | 468d | 4.84% |
| 2028-06-16 | 1.8y | 4.85% | 4.86% | 4.85% | 651d | 4.94% |
| 2028-12-15 | 2.3y | 4.84% | 4.85% | 4.85% | 832d | 5.00% |
| 2029-12-21 | 3.3y | 4.95% | 4.95% | 4.95% | 1203d | 5.23% |
| 2030-12-20 | 4.3y | 4.93% | 4.93% | 4.93% | 1567d | 5.34% |
| 2031-12-19 | 5.3y | 5.00% | 5.00% | 5.00% | 1931d | 5.56% |
Boxtrades data as of Sep 3, 2026.