I can speak only for SkyWest, but even the lowly RJ FOs are getting paid roughly in this manner. We get paid one hour for each two hours of duty, and since FOs (at least the ones not on first year pay) roughly make $35-40 per hour, it works out to nearly $20 per hour for each hour of duty time. That's what makes the standups or continuous duty overnights work.

And of course, since non-union SkyWest is riding on the coattails of union contracts, I'm sure it works in a similar fashion at other carriers as well.