RPM stands for Rate Per Mile — the freight rate divided by the miles of the trip. It’s one of the fastest ways to compare loads: a $2,000 load over 1,000 miles pays $2.00 per mile, and a dispatcher can weigh that against costs and other options at a glance.
RPM is most useful when it accounts for the full picture — including dead-head miles to reach the pickup and any fuel surcharge — rather than just the loaded, paid miles. Looking only at the headline rate can make a load look better than it really is.