LLM API Pricing Trends

As of October 26, 2026, the frontier token price index is 15, 85% below its March 2023 base. The median flagship model costs $5.63 per million blended tokens across 37 active constituents, and 5 entries, exits, or price changes landed in the latest snapshot.

Pricing verified 2026-10-26

Track how LLM API costs have evolved since GPT-4's launch in March 2023. The update ledger records changes between pricing snapshots; the charts show the longer trend.

Largest recorded cut: o3
$40 → $8 output per 1M · −80% on Jul '26
Cheapest frontier output: Grok 4.3
$2.5/1M output · xAI
Frontier price index: 100 → 15
85% below March 2023 · -6.2% month over month

Latest LLM pricing updates

These rows changed between the previous generated price-index snapshot and the October 26, 2026 snapshot. “Entered” and “exited” describe index membership. Price changes use the index's blended rate: three parts input to one part output.

Model	Tier	Snapshot update
Mistral Large 4	mid	Entered at $1.03/1M blended
Claude Haiku 5.5	budget	Entered at $0.200/1M blended
Gemini 4 Argon	frontier	Entered at $4.00/1M blended
Kimi K3.1 Pro	frontier	Entered at $4.00/1M blended
GPT-6.1 Terra	mid	Entered at $2.00/1M blended

Snapshot changes can include a corrected registry value or cohort change. Check the live LLM API pricing comparison before changing a production budget.

Frontier token price trend (March 2023 = 100)

Median blended token price across active frontier models, normalized to GPT-4 launch pricing. Lower means cheaper.

Full index, sub-indexes and constituents →

CSV JSON files

Current LLM API Prices

All models from pricing history, sorted by output price (highest first)

Model	Provider	Input $/1M	Output $/1M	Since
o1-pro	OpenAI	$150	$600	Sep '26
GPT-5.4 Pro	OpenAI	$30	$180	Apr '26
GPT-5.5 Pro	OpenAI	$30	$180	Apr '26
GPT-5.2 Pro	OpenAI	$21	$168	Sep '26
o3-pro	OpenAI	$20	$80	Sep '26
Claude 3 Opus	Anthropic	$15	$75	Mar '24
GPT-4	OpenAI	$30	$60	Mar '23
o1	OpenAI	$15	$60	Sep '24
Claude Fable 5	Anthropic	$10	$50	Jun '26
Claude Fable 5.1	Anthropic	$10	$50	Sep '26
GPT-6 Astra	OpenAI	$10	$50	Sep '26
GPT-4 Turbo	OpenAI	$10	$30	Nov '23
GPT-5.5	OpenAI	$5	$30	Apr '26
Claude Opus 4.6	Anthropic	$5	$25	Feb '26
Claude Opus 4.8	Anthropic	$5	$25	May '26
Claude Opus 5	Anthropic	$5	$25	Jul '26
Claude Opus 4.7	Anthropic	$5	$25	Sep '26
Claude Opus 4.5	Anthropic	$5	$25	Sep '26
Claude Opus 5.5	Anthropic	$4	$20	Sep '26
GPT-5.6 Sol	OpenAI	$4	$20	Jul '26
GPT-5.4	OpenAI	$2.5	$15	Apr '26
Claude 3 Sonnet	Anthropic	$3	$15	Mar '24
Claude 3.5 Sonnet	Anthropic	$3	$15	Jun '24
Claude Sonnet 4.5	Anthropic	$3	$15	Sep '25
Claude Sonnet 4.6	Anthropic	$3	$15	Feb '26
Grok 4.1	xAI	$3	$15	Feb '26
Kimi K3	Moonshot AI	$3	$15	Jul '26
GPT-5.2	OpenAI	$1.75	$14	Feb '26
GPT-5.3 Instant	OpenAI	$1.75	$14	Sep '26
Gemini 3.1 Pro	Google	$2	$12	Apr '26
GPT-5.6 Terra	OpenAI	$2	$12	Jul '26
GPT-4o	OpenAI	$2.5	$10	May '24
GPT-5.1	OpenAI	$1.25	$10	Sep '25
Gemini 2.5 Pro	Google	$1.25	$10	Jun '25
Claude Sonnet 5	Anthropic	$2	$10	Jun '26
GPT-5 (high)	OpenAI	$1.25	$10	Sep '26
GPT-6 Sol	OpenAI	$2	$10	Sep '26
GPT-6.1 Sol	OpenAI	$2	$10	Sep '26
Claude Sonnet 5.5	Anthropic	$2	$10	Sep '26
Gemini 4 Argon	Google	$2	$10	Oct '26
Kimi K3.1 Pro	Moonshot AI	$2	$10	Oct '26
Gemini 3.5 Flash	Google	$1.5	$9	Sep '26
o3	OpenAI	$2	$8	Apr '25
GPT-4.1	OpenAI	$2	$8	Apr '25
Mistral Medium 3.5 128B	Mistral	$1.5	$7.5	Sep '26
Grok 4.6	xAI	$2	$6	Aug '26
Grok 4.7	xAI	$2	$6	Sep '26
Grok 4.5	xAI	$2	$6	Sep '26
Claude Haiku 4.5	Anthropic	$1	$5	Sep '25
Gemini 1.5 Pro	Google	$1.25	$5	May '24
GPT-6.1 Terra	OpenAI	$1	$5	Oct '26
GPT-5.4 mini	OpenAI	$0.75	$4.5	Apr '26
o3-mini	OpenAI	$1.1	$4.4	Apr '25
o4-mini	OpenAI	$1.1	$4.4	Sep '26
Kimi 2.6	Moonshot AI	$0.95	$4	Sep '26
DeepSeek V4 Pro 0813	DeepSeek	$1.32	$3.96	Sep '26
Gemini 3.6 Flash	Google	$0.75	$3.75	Jul '26
Gemini 3.8 Flash	Google	$0.75	$3.75	Sep '26
Gemini 3.7 Flash	Google	$0.75	$3.75	Sep '26
Gemini 3 Flash	Google	$0.5	$3	Dec '25
Gemini 2.5 Flash	Google	$0.3	$2.5	Dec '24
Gemini 3.5 Flash-Lite	Google	$0.3	$2.5	Sep '26
Grok 4.3	xAI	$1.25	$2.5	Sep '26
DeepSeek R1	DeepSeek	$0.55	$2.19	Jan '25
Mistral Large 4	Mistral	$0.68	$2.09	Oct '26
Mistral Medium 3	Mistral	$0.4	$2	Sep '26
GPT-5 mini	OpenAI	$0.25	$2	Sep '26
GPT-4.1 mini	OpenAI	$0.4	$1.6	Apr '25
Mistral Large 3	Mistral	$0.5	$1.5	Feb '25
Gemini 3.1 Flash-Lite	Google	$0.25	$1.5	Sep '26
Claude 3 Haiku	Anthropic	$0.25	$1.25	Mar '24
GPT-5.4 nano	OpenAI	$0.2	$1.25	Mar '26
GPT-5.6 Luna	OpenAI	$0.2	$1.2	Jul '26
DeepSeek V4.1 Flash	DeepSeek	$0.3	$1.2	Sep '26
DeepSeek V3	DeepSeek	$0.27	$1.1	Jan '25
GPT-4o mini	OpenAI	$0.15	$0.6	Jul '24
Mistral Small 4	Mistral	$0.15	$0.6	Sep '26
Grok 3 Mini	xAI	$0.3	$0.5	Apr '25
GPT-6 Luna	OpenAI	$0.1	$0.5	Sep '26
Claude Haiku 5.5	Anthropic	$0.1	$0.5	Oct '26
GPT-4.1 nano	OpenAI	$0.1	$0.4	Apr '25
Gemini 2.5 Flash-Lite	Google	$0.1	$0.4	Sep '26
GPT-5 nano	OpenAI	$0.05	$0.4	Sep '26
Gemini 1.5 Flash	Google	$0.075	$0.3	May '24
Ministral 3 14B	Mistral	$0.2	$0.2	Sep '26
Ministral 3 8B	Mistral	$0.15	$0.15	Sep '26
Ministral 3 3B	Mistral	$0.1	$0.1	Sep '26

Current LLM API prices

Per million tokens, highest output price first

Model / providerInput / output

o1-proOpenAI · since Sep '26

$150 input$600 output

GPT-5.4 ProOpenAI · since Apr '26

$30 input$180 output

GPT-5.5 ProOpenAI · since Apr '26

$30 input$180 output

GPT-5.2 ProOpenAI · since Sep '26

$21 input$168 output

o3-proOpenAI · since Sep '26

$20 input$80 output

Claude 3 OpusAnthropic · since Mar '24

$15 input$75 output

GPT-4OpenAI · since Mar '23

$30 input$60 output

o1OpenAI · since Sep '24

$15 input$60 output

Claude Fable 5Anthropic · since Jun '26

$10 input$50 output

Claude Fable 5.1Anthropic · since Sep '26

$10 input$50 output

GPT-6 AstraOpenAI · since Sep '26

$10 input$50 output

GPT-4 TurboOpenAI · since Nov '23

$10 input$30 output

GPT-5.5OpenAI · since Apr '26

$5 input$30 output

Claude Opus 4.6Anthropic · since Feb '26

$5 input$25 output

Claude Opus 4.8Anthropic · since May '26

$5 input$25 output

Claude Opus 5Anthropic · since Jul '26

$5 input$25 output

Claude Opus 4.7Anthropic · since Sep '26

$5 input$25 output

Claude Opus 4.5Anthropic · since Sep '26

$5 input$25 output

Claude Opus 5.5Anthropic · since Sep '26

$4 input$20 output

GPT-5.6 SolOpenAI · since Jul '26

$4 input$20 output

GPT-5.4OpenAI · since Apr '26

$2.5 input$15 output

Claude 3 SonnetAnthropic · since Mar '24

$3 input$15 output

Claude 3.5 SonnetAnthropic · since Jun '24

$3 input$15 output

Claude Sonnet 4.5Anthropic · since Sep '25

$3 input$15 output

Claude Sonnet 4.6Anthropic · since Feb '26

$3 input$15 output

Grok 4.1xAI · since Feb '26

$3 input$15 output

Kimi K3Moonshot AI · since Jul '26

$3 input$15 output

GPT-5.2OpenAI · since Feb '26

$1.75 input$14 output

GPT-5.3 InstantOpenAI · since Sep '26

$1.75 input$14 output

Gemini 3.1 ProGoogle · since Apr '26

$2 input$12 output

GPT-5.6 TerraOpenAI · since Jul '26

$2 input$12 output

GPT-4oOpenAI · since May '24

$2.5 input$10 output

GPT-5.1OpenAI · since Sep '25

$1.25 input$10 output

Gemini 2.5 ProGoogle · since Jun '25

$1.25 input$10 output

Claude Sonnet 5Anthropic · since Jun '26

$2 input$10 output

GPT-5 (high)OpenAI · since Sep '26

$1.25 input$10 output

GPT-6 SolOpenAI · since Sep '26

$2 input$10 output

GPT-6.1 SolOpenAI · since Sep '26

$2 input$10 output

Claude Sonnet 5.5Anthropic · since Sep '26

$2 input$10 output

Gemini 4 ArgonGoogle · since Oct '26

$2 input$10 output

Kimi K3.1 ProMoonshot AI · since Oct '26

$2 input$10 output

Gemini 3.5 FlashGoogle · since Sep '26

$1.5 input$9 output

o3OpenAI · since Apr '25

$2 input$8 output

GPT-4.1OpenAI · since Apr '25

$2 input$8 output

Mistral Medium 3.5 128BMistral · since Sep '26

$1.5 input$7.5 output

Grok 4.6xAI · since Aug '26

$2 input$6 output

Grok 4.7xAI · since Sep '26

$2 input$6 output

Grok 4.5xAI · since Sep '26

$2 input$6 output

Claude Haiku 4.5Anthropic · since Sep '25

$1 input$5 output

Gemini 1.5 ProGoogle · since May '24

$1.25 input$5 output

GPT-6.1 TerraOpenAI · since Oct '26

$1 input$5 output

GPT-5.4 miniOpenAI · since Apr '26

$0.75 input$4.5 output

o3-miniOpenAI · since Apr '25

$1.1 input$4.4 output

o4-miniOpenAI · since Sep '26

$1.1 input$4.4 output

Kimi 2.6Moonshot AI · since Sep '26

$0.95 input$4 output

DeepSeek V4 Pro 0813DeepSeek · since Sep '26

$1.32 input$3.96 output

Gemini 3.6 FlashGoogle · since Jul '26

$0.75 input$3.75 output

Gemini 3.8 FlashGoogle · since Sep '26

$0.75 input$3.75 output

Gemini 3.7 FlashGoogle · since Sep '26

$0.75 input$3.75 output

Gemini 3 FlashGoogle · since Dec '25

$0.5 input$3 output

Gemini 2.5 FlashGoogle · since Dec '24

$0.3 input$2.5 output

Gemini 3.5 Flash-LiteGoogle · since Sep '26

$0.3 input$2.5 output

Grok 4.3xAI · since Sep '26

$1.25 input$2.5 output

DeepSeek R1DeepSeek · since Jan '25

$0.55 input$2.19 output

Mistral Large 4Mistral · since Oct '26

$0.68 input$2.09 output

Mistral Medium 3Mistral · since Sep '26

$0.4 input$2 output

GPT-5 miniOpenAI · since Sep '26

$0.25 input$2 output

GPT-4.1 miniOpenAI · since Apr '25

$0.4 input$1.6 output

Mistral Large 3Mistral · since Feb '25

$0.5 input$1.5 output

Gemini 3.1 Flash-LiteGoogle · since Sep '26

$0.25 input$1.5 output

Claude 3 HaikuAnthropic · since Mar '24

$0.25 input$1.25 output

GPT-5.4 nanoOpenAI · since Mar '26

$0.2 input$1.25 output

GPT-5.6 LunaOpenAI · since Jul '26

$0.2 input$1.2 output

DeepSeek V4.1 FlashDeepSeek · since Sep '26

$0.3 input$1.2 output

DeepSeek V3DeepSeek · since Jan '25

$0.27 input$1.1 output

GPT-4o miniOpenAI · since Jul '24

$0.15 input$0.6 output

Mistral Small 4Mistral · since Sep '26

$0.15 input$0.6 output

Grok 3 MinixAI · since Apr '25

$0.3 input$0.5 output

GPT-6 LunaOpenAI · since Sep '26

$0.1 input$0.5 output

Claude Haiku 5.5Anthropic · since Oct '26

$0.1 input$0.5 output

GPT-4.1 nanoOpenAI · since Apr '25

$0.1 input$0.4 output

Gemini 2.5 Flash-LiteGoogle · since Sep '26

$0.1 input$0.4 output

GPT-5 nanoOpenAI · since Sep '26

$0.05 input$0.4 output

Gemini 1.5 FlashGoogle · since May '24

$0.075 input$0.3 output

Ministral 3 14BMistral · since Sep '26

$0.2 input$0.2 output

Ministral 3 8BMistral · since Sep '26

$0.15 input$0.15 output

Ministral 3 3BMistral · since Sep '26

$0.1 input$0.1 output

Prices per million tokens from official API pricing. Does not include batch, cached, or volume discounts.

Questions

How much have LLM API prices dropped?

The frontier LLM token price index is 15 as of October 26, 2026, which is 85% below its March 2023 base of 100. The index uses a 3:1 input-to-output blend and the median price across active frontier models, so it measures the cohort rather than one provider's cheapest SKU.

Which LLM provider is cheapest right now?

Grok 4.3 from xAI has the lowest current output rate in this page's selected frontier history set at $2.5/1M tokens. That is not a universal cheapest-model verdict: the live comparison includes more models, while this history page keeps only rows with usable dated snapshots.

Why do reasoning models cost more?

Reasoning models like o1, o3, and DeepSeek R1 generate internal chain-of-thought tokens before producing the final answer. These thinking tokens consume compute but are billed as output tokens, making the effective cost per useful output token significantly higher.

Will LLM prices keep dropping?

There is no guarantee of a straight decline. Frontier token prices remain 85% below March 2023, but the current index moved down 6.2% month over month as the active model mix and published rates changed. Use the monthly series instead of assuming every new model will be cheaper.

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Latest LLM pricing updates

Frontier token price trend (March 2023 = 100)

Output price history by model

Current LLM API Prices

Current LLM API prices

Questions

Get the weekly price-change file