diff --git a/src/internal/common/limiters/token_bucket.go b/src/internal/common/limiters/token_bucket.go
new file mode 100644
index 000000000..a33bb4b11
--- /dev/null
+++ b/src/internal/common/limiters/token_bucket.go
@@ -0,0 +1,29 @@
+package limiters
+
+import (
+	"context"
+
+	"golang.org/x/time/rate"
+)
+
+var _ Limiter = &TokenBucket{}
+
+// Wrapper around the golang.org/x/time/rate token bucket rate limiter.
+type TokenBucket struct {
+	lim *rate.Limiter
+}
+
+func NewTokenBucketLimiter(r int, burst int) Limiter {
+	lim := rate.NewLimiter(rate.Limit(r), burst)
+	return &TokenBucket{lim: lim}
+}
+
+func (tb *TokenBucket) Wait(ctx context.Context) error {
+	return tb.lim.Wait(ctx)
+}
+
+func (tb *TokenBucket) WaitN(ctx context.Context, n int) error {
+	return tb.lim.WaitN(ctx, n)
+}
+
+func (tb *TokenBucket) Shutdown() {}
diff --git a/src/internal/m365/controller.go b/src/internal/m365/controller.go
index d5b8d629a..b38a5c8cd 100644
--- a/src/internal/m365/controller.go
+++ b/src/internal/m365/controller.go
@@ -8,6 +8,7 @@ import (
 	"github.com/alcionai/clues"
 
 	"github.com/alcionai/corso/src/internal/common/idname"
+	"github.com/alcionai/corso/src/internal/common/limiters"
 	"github.com/alcionai/corso/src/internal/data"
 	"github.com/alcionai/corso/src/internal/m365/graph"
 	"github.com/alcionai/corso/src/internal/m365/resource"
@@ -78,7 +79,24 @@ func NewController(
 		return nil, clues.Wrap(err, "retrieving m365 account configuration").WithClues(ctx)
 	}
 
-	ac, err := api.NewClient(creds, co, counter)
+	// Pick a rate limiter based on the service type
+	var lim limiters.Limiter
+
+	switch pst {
+	case path.OneDriveService, path.SharePointService, path.GroupsService:
+		lim = limiters.NewTokenBucketLimiter(graph.DrivePerSecond, graph.DriveMaxCap)
+	default:
+		// TODO(pandeyabs): Change default to token bucket exch limits like it exists today.
+		lim, err = limiters.NewSlidingWindowLimiter(
+			graph.ExchangeTimeLimit,
+			graph.ExchangeSlideInterval,
+			graph.ExchangeTokenQuota)
+		if err != nil {
+			return nil, clues.Wrap(err, "creating sliding window limiter").WithClues(ctx)
+		}
+	}
+
+	ac, err := api.NewClient(creds, co, counter, lim)
 	if err != nil {
 		return nil, clues.Wrap(err, "creating api client").WithClues(ctx)
 	}
diff --git a/src/internal/m365/graph/concurrency_middleware.go b/src/internal/m365/graph/concurrency_middleware.go
index 60762ca32..1814fb447 100644
--- a/src/internal/m365/graph/concurrency_middleware.go
+++ b/src/internal/m365/graph/concurrency_middleware.go
@@ -11,6 +11,7 @@ import (
 	khttp "github.com/microsoft/kiota-http-go"
 	"golang.org/x/time/rate"
 
+	"github.com/alcionai/corso/src/internal/common/limiters"
 	"github.com/alcionai/corso/src/pkg/count"
 	"github.com/alcionai/corso/src/pkg/logger"
 	"github.com/alcionai/corso/src/pkg/path"
@@ -88,18 +89,23 @@ const (
 	// but doing so risks timeouts.  It's better to give the limits breathing room.
 	defaultPerSecond = 16  // 16 * 60 * 10 = 9600
 	defaultMaxCap    = 200 // real cap is 10k-per-10-minutes
+
+	ExchangeTimeLimit     = 10 * time.Minute
+	ExchangeTokenQuota    = 9600
+	ExchangeSlideInterval = 1 * time.Second
+
 	// since drive runs on a per-minute, rather than per-10-minute bucket, we have
 	// to keep the max cap equal to the per-second cap.  A large maxCap pool (say,
 	// 1200, similar to the per-minute cap) would allow us to make a flood of 2400
 	// calls in the first minute, putting us over the per-minute limit.  Keeping
 	// the cap at the per-second burst means we only dole out a max of 1240 in one
 	// minute (20 cap + 1200 per minute + one burst of padding).
-	drivePerSecond = 20 // 20 * 60 = 1200
-	driveMaxCap    = 20 // real cap is 1250-per-minute
+	DrivePerSecond = 20 // 20 * 60 = 1200
+	DriveMaxCap    = 20 // real cap is 1250-per-minute
 )
 
 var (
-	driveLimiter = rate.NewLimiter(drivePerSecond, driveMaxCap)
+	driveLimiter = rate.NewLimiter(DrivePerSecond, DriveMaxCap)
 	// also used as the exchange service limiter
 	defaultLimiter = rate.NewLimiter(defaultPerSecond, defaultMaxCap)
 )
@@ -116,21 +122,6 @@ func BindRateLimiterConfig(ctx context.Context, lc LimiterCfg) context.Context {
 	return context.WithValue(ctx, limiterCfgCtxKey, lc)
 }
 
-func ctxLimiter(ctx context.Context) *rate.Limiter {
-	lc, ok := extractRateLimiterConfig(ctx)
-	if !ok {
-		return defaultLimiter
-	}
-
-	switch lc.Service {
-	// FIXME: Handle based on category once we add chat backup
-	case path.OneDriveService, path.SharePointService, path.GroupsService:
-		return driveLimiter
-	default:
-		return defaultLimiter
-	}
-}
-
 func extractRateLimiterConfig(ctx context.Context) (LimiterCfg, bool) {
 	l := ctx.Value(limiterCfgCtxKey)
 	if l == nil {
@@ -184,24 +175,25 @@ func ctxLimiterConsumption(ctx context.Context, defaultConsumption int) int {
 // QueueRequest will allow the request to occur immediately if we're under the
 // calls-per-minute rate.  Otherwise, the call will wait in a queue until
 // the next token set is available.
-func QueueRequest(ctx context.Context) {
-	limiter := ctxLimiter(ctx)
+func QueueRequest(ctx context.Context, lim limiters.Limiter) {
 	consume := ctxLimiterConsumption(ctx, defaultLC)
 
-	if err := limiter.WaitN(ctx, consume); err != nil {
+	if err := lim.WaitN(ctx, consume); err != nil {
 		logger.CtxErr(ctx, err).Error("graph middleware waiting on the limiter")
 	}
 }
 
 // RateLimiterMiddleware is used to ensure we don't overstep per-min request limits.
-type RateLimiterMiddleware struct{}
+type RateLimiterMiddleware struct {
+	lim limiters.Limiter
+}
 
 func (mw *RateLimiterMiddleware) Intercept(
 	pipeline khttp.Pipeline,
 	middlewareIndex int,
 	req *http.Request,
 ) (*http.Response, error) {
-	QueueRequest(req.Context())
+	QueueRequest(req.Context(), mw.lim)
 	return pipeline.Next(req, middlewareIndex)
 }
 
diff --git a/src/internal/m365/graph/http_wrapper.go b/src/internal/m365/graph/http_wrapper.go
index b03e8a3e9..0aef0e700 100644
--- a/src/internal/m365/graph/http_wrapper.go
+++ b/src/internal/m365/graph/http_wrapper.go
@@ -11,6 +11,7 @@ import (
 	"github.com/pkg/errors"
 	"golang.org/x/net/http2"
 
+	"github.com/alcionai/corso/src/internal/common/limiters"
 	"github.com/alcionai/corso/src/internal/events"
 	"github.com/alcionai/corso/src/internal/version"
 	"github.com/alcionai/corso/src/pkg/count"
@@ -39,13 +40,14 @@ type Requester interface {
 // can utilize it on a per-download basis.
 func NewHTTPWrapper(
 	counter *count.Bus,
+	lim limiters.Limiter,
 	opts ...Option,
 ) *httpWrapper {
 	var (
 		cc = populateConfig(opts...)
 		rt = customTransport{
 			n: pipeline{
-				middlewares: internalMiddleware(cc, counter),
+				middlewares: internalMiddleware(cc, counter, lim),
 				transport:   defaultTransport(),
 			},
 		}
@@ -72,10 +74,11 @@ func NewHTTPWrapper(
 // can utilize it on a per-download basis.
 func NewNoTimeoutHTTPWrapper(
 	counter *count.Bus,
+	lim limiters.Limiter,
 	opts ...Option,
 ) *httpWrapper {
 	opts = append(opts, NoTimeout())
-	return NewHTTPWrapper(counter, opts...)
+	return NewHTTPWrapper(counter, lim, opts...)
 }
 
 // ---------------------------------------------------------------------------
@@ -188,6 +191,7 @@ func defaultTransport() http.RoundTripper {
 func internalMiddleware(
 	cc *clientConfig,
 	counter *count.Bus,
+	lim limiters.Limiter,
 ) []khttp.Middleware {
 	throttler := &throttlingMiddleware{
 		tf:      newTimedFence(),
@@ -203,7 +207,9 @@ func internalMiddleware(
 		khttp.NewRedirectHandler(),
 		&LoggingMiddleware{},
 		throttler,
-		&RateLimiterMiddleware{},
+		&RateLimiterMiddleware{
+			lim: lim,
+		},
 		&MetricsMiddleware{
 			counter: counter,
 		},
diff --git a/src/internal/m365/graph/service.go b/src/internal/m365/graph/service.go
index 3a0b6ce38..f0119ab2e 100644
--- a/src/internal/m365/graph/service.go
+++ b/src/internal/m365/graph/service.go
@@ -16,6 +16,7 @@ import (
 
 	"github.com/alcionai/corso/src/internal/common/crash"
 	"github.com/alcionai/corso/src/internal/common/idname"
+	"github.com/alcionai/corso/src/internal/common/limiters"
 	"github.com/alcionai/corso/src/internal/events"
 	"github.com/alcionai/corso/src/pkg/count"
 	"github.com/alcionai/corso/src/pkg/filters"
@@ -106,6 +107,7 @@ func (s Service) Serialize(object serialization.Parsable) ([]byte, error) {
 func CreateAdapter(
 	tenant, client, secret string,
 	counter *count.Bus,
+	lim limiters.Limiter,
 	opts ...Option,
 ) (abstractions.RequestAdapter, error) {
 	auth, err := GetAuth(tenant, client, secret)
@@ -113,7 +115,7 @@ func CreateAdapter(
 		return nil, err
 	}
 
-	httpClient, cc := KiotaHTTPClient(counter, opts...)
+	httpClient, cc := KiotaHTTPClient(counter, lim, opts...)
 
 	adpt, err := msgraphsdkgo.NewGraphRequestAdapterWithParseNodeFactoryAndSerializationWriterFactoryAndHttpClient(
 		auth,
@@ -152,12 +154,13 @@ func GetAuth(tenant string, client string, secret string) (*kauth.AzureIdentityA
 // can utilize it on a per-download basis.
 func KiotaHTTPClient(
 	counter *count.Bus,
+	lim limiters.Limiter,
 	opts ...Option,
 ) (*http.Client, *clientConfig) {
 	var (
 		clientOptions = msgraphsdkgo.GetDefaultClientOptions()
 		cc            = populateConfig(opts...)
-		middlewares   = kiotaMiddlewares(&clientOptions, cc, counter)
+		middlewares   = kiotaMiddlewares(&clientOptions, cc, counter, lim)
 		httpClient    = msgraphgocore.GetDefaultClient(&clientOptions, middlewares...)
 	)
 
@@ -277,6 +280,7 @@ func kiotaMiddlewares(
 	options *msgraphgocore.GraphClientOptions,
 	cc *clientConfig,
 	counter *count.Bus,
+	lim limiters.Limiter,
 ) []khttp.Middleware {
 	mw := []khttp.Middleware{
 		msgraphgocore.NewGraphTelemetryHandler(options),
@@ -305,7 +309,9 @@ func kiotaMiddlewares(
 	mw = append(
 		mw,
 		throttler,
-		&RateLimiterMiddleware{},
+		&RateLimiterMiddleware{
+			lim: lim,
+		},
 		&MetricsMiddleware{
 			counter: counter,
 		})
diff --git a/src/pkg/services/m365/api/client.go b/src/pkg/services/m365/api/client.go
index adcd08e05..8a40b886d 100644
--- a/src/pkg/services/m365/api/client.go
+++ b/src/pkg/services/m365/api/client.go
@@ -7,6 +7,7 @@ import (
 
 	"github.com/alcionai/clues"
 
+	"github.com/alcionai/corso/src/internal/common/limiters"
 	"github.com/alcionai/corso/src/internal/m365/graph"
 	"github.com/alcionai/corso/src/pkg/account"
 	"github.com/alcionai/corso/src/pkg/control"
@@ -43,6 +44,9 @@ type Client struct {
 	counter *count.Bus
 
 	options control.Options
+
+	// rate limiter
+	lim limiters.Limiter
 }
 
 // NewClient produces a new exchange api client.  Must be used in
@@ -51,18 +55,19 @@ func NewClient(
 	creds account.M365Config,
 	co control.Options,
 	counter *count.Bus,
+	lim limiters.Limiter,
 ) (Client, error) {
-	s, err := NewService(creds, counter)
+	s, err := NewService(creds, counter, lim)
 	if err != nil {
 		return Client{}, err
 	}
 
-	li, err := newLargeItemService(creds, counter)
+	li, err := newLargeItemService(creds, counter, lim)
 	if err != nil {
 		return Client{}, err
 	}
 
-	rqr := graph.NewNoTimeoutHTTPWrapper(counter)
+	rqr := graph.NewNoTimeoutHTTPWrapper(counter, lim)
 
 	if co.DeltaPageSize < 1 || co.DeltaPageSize > maxDeltaPageSize {
 		co.DeltaPageSize = maxDeltaPageSize
@@ -75,6 +80,7 @@ func NewClient(
 		Requester:   rqr,
 		counter:     counter,
 		options:     co,
+		lim:         lim,
 	}
 
 	return cli, nil
@@ -100,6 +106,7 @@ func (c Client) Service(counter *count.Bus) (graph.Servicer, error) {
 func NewService(
 	creds account.M365Config,
 	counter *count.Bus,
+	lim limiters.Limiter,
 	opts ...graph.Option,
 ) (*graph.Service, error) {
 	a, err := graph.CreateAdapter(
@@ -107,6 +114,7 @@ func NewService(
 		creds.AzureClientID,
 		creds.AzureClientSecret,
 		counter,
+		lim,
 		opts...)
 	if err != nil {
 		return nil, clues.Wrap(err, "generating graph api adapter")
@@ -118,8 +126,9 @@ func NewService(
 func newLargeItemService(
 	creds account.M365Config,
 	counter *count.Bus,
+	lim limiters.Limiter,
 ) (*graph.Service, error) {
-	a, err := NewService(creds, counter, graph.NoTimeout())
+	a, err := NewService(creds, counter, lim, graph.NoTimeout())
 	if err != nil {
 		return nil, clues.Wrap(err, "generating no-timeout graph adapter")
 	}