How LLM API Pricing Works

Tokens, input vs output, context windows — why the same task can cost 50× more on one model than another, explained simply.

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GPT-5 vs GPT-4o: price comparison

Real 2026 API prices side by side, with the total cost of a typical 10M-input / 3M-output monthly workload.

Price & cost at a glance

GPT-5GPT-4o
Input / 1M tokens$1.25$2.5
Output / 1M tokens$10$10
Context window400K128K
Cost — 10M in + 3M out$42.5$55

Green = cheaper / larger. Prices per 1M tokens, USD. Snapshot 2026 — verify with the provider.

Which is cheaper?

GPT-5 is the cheaper option on a 10M-in / 3M-out workload — about $42.5/mo versus $55 for GPT-4o (~1.3× difference). Because output tokens are billed higher, the model with the lower output price usually wins as your responses get longer.

Run your own token mix in the cost calculator, or see each model in depth: GPT-5 · GPT-4o.

Frequently asked

Is GPT-5 or GPT-4o cheaper?

At a typical 10M input + 3M output tokens per month, GPT-5 costs about $42.5 versus $55 for GPT-4o — GPT-5 is roughly 1.3x cheaper on this workload. Your ratio of input to output tokens changes the gap.

What's the price difference between GPT-5 and GPT-4o?

GPT-5 is $1.25/$10 per 1M input/output tokens; GPT-4o is $2.5/$10. Output tokens usually dominate a bill, so compare the output price first.

Which has the bigger context window, GPT-5 or GPT-4o?

GPT-5 supports about 400K tokens and GPT-4o about 128K. A bigger window costs more per call because every token in context is billed.

Related comparisons

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Educational estimates — not affiliated with any provider.