I thought that the interest rate was equivalent to the margin rate. For example if you were to borrow money on margin you'd probably expect to pay somewhere near 6%. So.. If the Dow CASH index was @ 12815, and if you were to buy a index future that expires (1) yr you could expect to pay 12815 + (12815 * .06) or 13584. However Currently the cash dow is trading @ 12815 and the Dow futures that expire in JUNE are trading at 12976. To calculate the interest rate: ((12976 - 12815) / 12815) * 100 or 1.26% per 6 mo. or a real interest rate of 2.52% / yr. Seems too low... what am I doing wrong?