Documentation for /api/utils/estimatefee

[hasanatkazmi]

I am having difficulty in understanding estimatefee endpoint.
Currently, https://insight.bitpay.com/api/utils/estimatefee returns
{"2":0.00013758}

Is this BTC/byte? If so, this is absurdly high: A normal 226 byte transaction will cost 0.03109308 BTC. bitcoind also rejects as this fee is too high.
This can't seem like satoshis as this is decimal figure. (Also, codebase says its BTC/byte)

Can someone please help me understand how to calculate esimatefee works?

[skaplan]

this is just a shim over bitcoind estimatefee (http://chainquery.com/bitcoin-api/estimatefee) which returns fee/kilobyte