How does Poloniex Bitcoin loaning work? I just learned about Bitcoin loaning as seen below and tried it a few times. I'm not too clear on the earnings.

Does it mean you can loan your Bitcoin for .0988% return every 2 days? But when I check my loan history, it seems like the loan gets returned to you multiple times a day and it gets loaned out again. Does this mean every time someone that borrows from you gets charged .0988% ? So what is the 2 days for then?
I guess the rate base on daily, and 2 days mean to lock down for 2 day. so you have chance to cancel, or change the higher rate some how.

Rate: The daily interest rate you are offering your funds at.

here is the link to explain in more detail officially