Premiums paid in the market for grades better than the basic grade or discounts allowed for lower grades.

The discounts (premiums) allowed for grades or locations of a commodity lower (higher) than the par or basis grade or location specified in the futures contract.

Discounts paid for Canadian heavy oil against benchmark West Texas Intermediate crude oil

Turning corners is easier with DIFFERENTIALS on each drive axle. When the car is turning a corner, the Outer wheel travels a greater distance than the Inner wheel; Differentials allow wheels on the same axle to travel at different speeds without 'scrubbing' (or "skid-steering") the tyres. Gear differentials are the usual standard - they are easy to maintain and bulletproof. Pro racers may prefer Ball differentials which have adjustable limit to the differential action - however ball diffs need constant maintenance.

The amounts by which variable quantities differ. [D02663] Webster

When a lender operates a ‘banding system' under which extra interest is charged on larger loans; the ‘bands' are known as differentials.

See Price differentials