Question: favor rank beyond 100 for each realm

This would suggest that favor ranks beyond 100 give a slight loot bonus for that specific god

In the 0.11.0 patch notes, it notes there is a global loot bonus for each favor rank that applies for all realms.

Is there both a global loot bonus based on all god favor ranks AND a per-realm loot bonus based on that gods favor?

Put another way.
Would this
5 gods with favor rank 100
1 god with favor rank 500
give the same loot bonus (ignoring any diff in blessings)

Each rank gives an item bonus for all realms, not just the one that belongs to the god.