Borrow against SPX
Teller pools accept SPX as collateral on Ethereum at up to 16.7% LTV, the platform's most conservative ceiling, lending USDC at 42% APR. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| SPX | Ethereum | 16.7% | 42% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
The tightest ceiling on the platform
16.7% is the lowest Teller lends to. In practice that means roughly six dollars of collateral for every dollar borrowed, against a bit over one for tokenized Apple shares at the other end of the list. The whole range exists because pool operators are answering one question per asset: how far can this travel while I hold it.
The token sits at 0xe0f63a424a4439cbe457d80e4f4b51ad25b2c56c on Ethereum, and the pool quotes 42% APR, billed across a 30-day cycle rather than annually in one go.
Named after an index it does not track
SPX6900 takes its name from the S&P 500 as a joke rather than as a claim, and it holds nothing, tracks nothing and pays nothing. Anyone arriving here expecting index exposure wants a different row: Teller does accept tokenized equities, and those are on the tokenized stocks page, at some of the highest ceilings on the platform rather than the lowest.
Sizing a loan at this ceiling
A six-to-one requirement means a modest loan needs a substantial position, and mainnet gas sits on top of that. Both point the same way: this row suits someone with a large holding who wants a small amount of liquidity from it, rather than someone trying to maximise what they can draw.
The loan
Deposit SPX, receive USDC, repay or roll on the due date. Rate, LTV and the roll window lock at the start. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral, which is the protection that matters most on an asset priced this conservatively. Miss the due date and the collateral is forfeit.
Frequently asked questions
Roughly six dollars of collateral for every dollar borrowed, which is the most conservative ratio on the platform. Tokenized equities sit at the other end at a bit over one to one.
No. The name is a joke rather than a claim, and the token holds nothing and tracks nothing. Teller does accept tokenized equities, which are listed on the tokenized stocks page.
Someone with a large holding who wants a small amount of liquidity from it. The ratio and mainnet gas both point away from trying to draw the maximum.
No. APR is annual and the pools run a 30-day cycle, so a single term costs a fraction of the headline figure plus the 1% marketplace fee.
Nothing happens to the loan. There is no liquidation threshold during the term, which is the protection that matters most on an asset priced this conservatively.
Open a loan
Connect a wallet, deposit your collateral, and borrow a stablecoin. No credit check, no application.
Go to the borrow tab →No collateral to pledge? Check whether you pre-qualify for a no-collateral personal loan. Soft check, no hard pull.