I'm not sure where in the Box codebase this is, but the SSH backup behavior is strange. (Or, not documented sufficiently clearly for me to make sense of it.) I spent a bunch of time trying to figure this out as well, and ultimately gave up. However, @dummyzam is encountering many of the same kinds of confusion I did.
Ideally:
The remote directory should be the base for all operations, as far as backup site configuration is concerned.
All operations should be absolute paths, and be rooted at join(remote dir, prefix). No backup operations should take place outside of that root path on the remote system.
If those things are true, then it should be the case that given a target/remote directory of (say) /mnt/OnlyZpol/CloudronBackup/ and a prefix of backups, then all operations will be against /mnt/OnlyZpol/CloudronBackup/backups/*.
If $HOME is used by Box when doing SSHFS backups, then that should be documented somewhere.
As I learned, the target/remote directory will be set to 777, which can be a problem if the user you're authenticating as lacks permissions, or if you make the mistake of using $HOME as your remote directory (as this can upset the permissions that SSHD expects for .ssh).