Your daily budget is a weekly target
Meta’s own documentation is explicit: a daily budget sets “a daily spending target over the course of a calendar week” running Sunday through Saturday. On high-opportunity days Meta spends up to 75% over it; on slow days, less. The hard limits are 175% of your daily budget in any day and 7× in any calendar week — and with ad set budget sharing on, 210% and 8.4×, because up to 20% can flow in from sibling ad sets.