API cost ledger

AI Model API Pricing: current models, real deployment constraints

Use this as a starting ledger, not a purchase order. Token prices are only one input: model availability, cache rules, long-context multipliers, tools, quota, data residency, and retries can dominate an application’s actual cost.

All dollar figures are USD per 1M text tokens unless noted. Prices as of Nov 1, 2026. Promotional and limited-access rows are labeled; primary source pages win if they change.

Quick reference: current text-model list prices

Two clocks are running. Gemini 3.8 Flash is on promotional pricing ($0.75 in / $3.75 out) through Dec 31, 2026, then doubles to $1.50 / $7.50 on Jan 1, 2027. Gemini 4 Argon ($2 / $10) is also promotional through Nov 30, 2026, rising to $4 / $20 on Dec 1. GPT-6 Sol and Luna launched Sep 22, 2026 at half the price of the GPT-5.6 preview rows they replace; OpenAI says the cut is permanent, not a launch promotion.
ModelStatusInputCached inputOutputContext / pricing breakpointUse it first forPrimary source
OpenAI GPT-6 AstraAvailable$10.00$1.00$50.001.05M; >272K prompt is 2× input, 1.5× outputHardest end-to-end reasoning, coding, computer useOpenAI model card
OpenAI GPT-6 SolAvailable$2.00$0.20$10.001.05M; >272K prompt is 2× input and cacheComplex coding and agentic workflowsOpenAI model card
OpenAI GPT-6 LunaAvailable$0.10$0.01$0.501.05M; >272K prompt is 2× input and cacheFocused, high-volume extraction and summarizationOpenAI model card
OpenAI GPT-6.1 TerraListed on OpenAI pricing page$1.00$0.05$5.00Not verified; prompts over 272K are 2× input and cache, 1.5× outputLower-cost GPT-6.1 tier; use case not verifiedOpenAI pricing
Anthropic Claude Fable 5.1Available$10.00$0.25$50.001M standard pricingMost demanding reasoning and long-horizon agentsAnthropic pricing
Anthropic Claude Opus 5.5Available$4.00$0.20$20.001M standard pricingHigh-capability reasoning/codingAnthropic pricing
Anthropic Claude Sonnet 5.5Available$2.00$0.10$10.001M standard pricingBalanced agentic workloadsAnthropic pricing
Anthropic Claude Haiku 5.5Available$0.10 (≤100K prompts); $0.50 over$0.01 (≤100K); $0.05 over$0.50 (≤100K); $2.50 overTwo prompt-size tiers at 100K tokensFast routing/classificationAnthropic pricing
Anthropic Claude Haiku 4.5Available$1.00$0.10$5.00Read exact model context termsFast routing/classificationAnthropic pricing
Google Gemini 4 ArgonAvailable; promo to Nov 30, 2026$2.00 (then $4.00)$0.10 (then $0.20)$10.00 (then $20.00)Not verified; caching is implicit onlyNewest Gemini text model; use case not verifiedGemini pricing
Google Gemini 3.6 FlashAvailable; promo to Dec 31, 2026$0.75 (then $1.50)$0.075 (then $0.15)$3.75 (then $7.50)Context-cache storage fees applyFlash-tier workloads; use case not verifiedGemini pricing
Google Gemini 3.8 FlashAvailable; promo to Dec 31, 2026$0.75 (then $1.50)$0.075 (then $0.15)$3.75 (then $7.50)Tool/search charges can applyLong-horizon coding, agents, enterprise workflowsGemini pricing
Google Gemini 3.5 Flash-LiteAvailable$0.30$0.03$2.50Tools billed separately where usedHigh-volume, simple processingGemini pricing
Google Gemini 3.1 Flash-LiteAvailable$0.25$0.025$1.50Tools billed separately where usedCheapest multimodal batch-style workGemini pricing
Google Gemini 3.1 ProPreview$2.00 ≤200K$0.20 ≤200K$12.00 ≤200KInput/output step up above 200K ($4 / $18)Multimodal/agent evaluationGemini pricing
Mistral Medium 3.5Available; open weights$1.50See live card$7.50256KAgentic and coding use, self-hostableMistral model card
Mistral Small 4Available; open weights$0.15See live card$0.60256KLow-cost hybrid reasoning/codingMistral model card

The table compares standard text rates, not Claude Mythos 5.1 (invitation-only, $10 / $50), older Claude (Opus 5 and 4.8 at $5 / $25, Sonnet 5 at $2 / $10, now permanent), enterprise agreements, regional premiums, priority/flex, audio/image/video, storage, or third-party cloud resale.

Workload cost calculator

Cost vocabulary and a worked estimate

What can be billable?

  • Input tokens: system instructions, user content, retrieved text, tool schemas, and conversation history.
  • Output and reasoning tokens: generated text and, depending on the provider/model, hidden or intermediate reasoning consumed by an agent loop.
  • Cached input: a reused prefix; cache reads are cheaper, while writes/storage can cost more than a normal input token.
  • Tools and modalities: web search, grounding, code execution, containers, images, audio, video, retrieval, and storage can have separate meters.
  • Quota: RPM, TPM, concurrent requests, and batch queue size can make an otherwise cheap row unusable.
  • Resilience: retries, fallbacks, duplicate tool calls, and human review are deployment costs—not free edge cases.

GPT-6 Sol planning example

10,000 requests × 1,800 input + 450 output, with half of input read from cache:

uncached input = 9.0M × $2.00 = $18.00
cached input = 9.0M × $0.20 = $1.80
output = 4.5M × $10.00 = $45.00
token estimate = $64.80 / month

This excludes tools and cache writes. For >272K GPT-6 prompts, recalculate at the published 2× input and cache multipliers (Astra also 1.5× output)—not the base row.

Choose the operating mode before the model

ConstraintStart withWhyDo not assume
Hardest reasoning and agent work, cost secondaryGPT-6 Astra or Claude Fable 5.1Both list at $10 / $50 with 1M-class contextThat the flagship tier is needed for every step of an agent loop
Default coding and agent workhorseGPT-6 Sol, Claude Sonnet 5.5, or Claude Opus 5.5$2 / $10 for Sol and Sonnet 5.5; Opus 5.5 at $4 / $20 with a 0.05× cache-read rateThat equal list price means equal tokens per task; Claude 4.7+ tokenizers emit about 30% more tokens
High-volume simple routingGPT-6 Luna, Gemini 3.1 Flash-Lite, or Gemini 3.5 Flash-LiteLuna lists at $0.10 / $0.50; the Gemini Lite rows are $0.25–0.30 inThat quality, tool reliability, or quota are interchangeable
Cheap frontier-adjacent Flash tierGemini 3.8 Flash$0.75 / $3.75 through Dec 31, 2026That the promo rate survives into 2027; budget $1.50 / $7.50
Cheaper Claude for classificationClaude Haiku 5.5$0.10 / $0.50 for prompts up to 100K (batch $0.05 / $0.25); Haiku 4.5 at $1 / $5 is still listedThat older tokenizer measurements still predict cost
Open-weight controlMistral Medium 3.5, Mistral Small 4, or another evaluated open familyWeights may lower lock-in and enable self-hostingThat downloads eliminate GPU, ops, licence, or security cost

Advanced cost traps and anti-patterns

Preview, promo, and fallback design

A price can be temporary or ahead of access: GPT-5.6 Sol, Terra and Luna were limited-preview rows until GPT-6 replaced them at half the price, Gemini 3.8 Flash doubles on Jan 1, 2027, and Gemini 3.1 Pro is still a preview. Pin a dated model identifier where the provider supports snapshots, keep a tested fallback in the same product path, and make your rate/quota behavior observable. Consumer plans are not API credits.

Context, caching, and agent loops

Long context is capacity, not a mandate to send the corpus. Cache-read rates are not uniform: Claude reads are 0.1× input, but 0.05× on Opus 5.5 and Sonnet 5.5, and 0.025× on Fable 5.1, while GPT-6 Astra, Sol and Luna read at 0.1×. Cache a stable prefix only when the provider’s cache lifetime, write charge, and hit behavior work for your traffic. Cap agent turns, tool calls, retrieved documents, and output tokens; intermediate work can dominate the final answer.

Apples-to-apples evaluation

Price per token is not price per completed task. Compare models on identical prompts, tool schemas, retry rules, safety policy, output limits, region, and service tier. Re-tokenize when a vendor changes tokenizer: Anthropic documents that newer Claude models can produce about 30% more tokens for the same text.

Common mistakes

  • Using a subscription price or an outdated screenshot as API pricing evidence.
  • Comparing input-only price while ignoring output, cache writes, tools, and storage.
  • Budgeting a promo price (Gemini 3.8 Flash) past its end date, or a preview model with no fallback.
  • Assuming published rate limits are sustained throughput guarantees.
  • Using a giant context to avoid retrieval, ranking, or document selection.
  • Calling self-hosting “free” because the weights are downloadable.

Continue the decision

Frontier AI labs · Open-weight model deployment · AI model picker · AI coding agents compared.

Sources: OpenAI models · OpenAI pricing · GPT-6 Sol and Luna launch (Sep 22, 2026) · Anthropic pricing · Gemini pricing · Mistral Medium 3.5 · Mistral Small 4.

David Veksler is a Principal AI Engineer in Denver. He leads agentic AI engineering at Antech, a Mars company, and builds AI platforms for regulated financial firms. This page was produced by a governed, multi-agent Claude Code pipeline with a git audit trail. How it's built Case studies