There's a box right by the hole (6)
I believe the answer is:
crater
'hole' is the definition.
(I've seen this before)
'there's a box right' is the wordplay.
'there's a box' becomes 'crate' (crate is a kind of box).
'right' becomes 'r' (common abbreviation).
'crate'+'r'='CRATER'
'by the' is the link.
(Other definitions for crater that I've seen before include "Moon cavity" , "Large hole" , "big hole" , "Caldera" , "Volcano opening" .)