I've essentially done the same thing as a margin loan, albeit for a smaller cash loan ($80k vs $100k). With the margin loan, there is the daily interest cost. With the futures "loan", the interest is baked in because the futures quote will be higher than the current index.
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I've essentially done the same thing as a margin loan, albeit for a smaller cash loan ($80k vs $100k). With the margin loan, there is the daily interest cost. With the futures "loan", the interest is baked in because the futures quote for a later date will be higher than the current index.
This example is mainly to show that these loan instruments are interchangeable and it all comes down to how you achieve leverage.