Question 1

How much does GPT-4 API cost?

Accepted Answer

GPT-4 API costs vary by model. GPT-4o costs $2.50 per 1M input tokens and $10.00 per 1M output tokens. GPT-4 Turbo costs $10.00 per 1M input tokens and $30.00 per 1M output tokens. Use our LLM Token Cost Calculator to estimate costs for your specific usage.

Question 2

What is the difference between input and output tokens?

Accepted Answer

Input tokens are the text you send to the LLM (your prompts, context, and instructions). Output tokens are the text the model generates in its response. Output tokens are typically 2-4x more expensive than input tokens. A token is roughly 4 characters or 0.75 words.

Question 3

How do I calculate LLM API costs?

Accepted Answer

Calculate LLM API costs by multiplying input tokens by the input rate, plus output tokens by the output rate. Our calculator supports both token and word modes, so you can estimate costs even if you only know word counts. Different models have different pricing structures.

Question 4

Which LLM model is the most cost-effective?

Accepted Answer

Cost-effectiveness depends on your use case. GPT-3.5-turbo is the cheapest but less capable. GPT-4o offers better quality at moderate cost. Claude 3.5 Sonnet provides excellent value for analysis tasks. Use our calculator to compare costs across models for your specific token usage.

Question 5

Can I use word counts instead of tokens?

Accepted Answer

Yes! Our calculator supports both token and word modes. You can switch between modes based on your available data. The calculator automatically converts words to tokens using the standard ratio of approximately 0.75 words per token.

LLM Token Cost Calculator - API Pricing Estimator for GPT-4, Claude & Gemini

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