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 4,963 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 |
|---|---|---|---|---|---|---|
| 2027-08-20 | 1.0y | 4.71% | 4.72% | 4.72% | 382d | 4.72% |
| 2027-09-17 | 1.1y | 4.71% | 4.72% | 4.71% | 410d | 4.72% |
| 2027-12-17 | 1.4y | 4.75% | 4.75% | 4.75% | 501d | 4.79% |
| 2028-06-16 | 1.9y | 4.78% | 4.78% | 4.78% | 684d | 4.88% |
| 2028-12-15 | 2.4y | 4.75% | 4.75% | 4.75% | 865d | 4.91% |
| 2029-12-21 | 3.4y | 4.74% | 4.74% | 4.74% | 1236d | 5.01% |
| 2030-12-20 | 4.4y | 4.73% | 4.73% | 4.73% | 1600d | 5.12% |
| 2031-12-19 | 5.4y | 4.83% | 4.83% | 4.83% | 1964d | 5.37% |
Boxtrades data as of Aug 4, 2026.