Cheapest LLM API (Oct 2026): Lowest Price per 1M Tokens by Use Case
As of , out of 749 models tracked: overall: command-r7b-12-2024 (Cohere, $0.04 in / $0.15 out per 1M); with vision (image input): ministral-3-3b-2512 (Mistral AI, $0.10 in / $0.10 out per 1M); with tool calling: command-r7b-12-2024 (Cohere, $0.04 in / $0.15 out per 1M).
Ranked by blended price (3 input tokens per output token) among models sold directly by the company that makes them (OpenAI, Anthropic, Google Gemini API, Mistral AI, xAI, DeepSeek, Cohere, Perplexity, Moonshot AI). Hosted open models are on the full comparison.
Cheapest overall
| Model | Provider | Input / 1M | Output / 1M | Cached input / 1M | Context |
|---|---|---|---|---|---|
| command-r7b-12-2024 | Cohere | $0.04 | $0.15 | — | 128K |
| ministral-3-3b-2512 | Mistral AI | $0.10 | $0.10 | $0.01 | 131K |
| ministral-3b-2512 | Mistral AI | $0.10 | $0.10 | $0.01 | 131K |
| ministral-3b-latest | Mistral AI | $0.10 | $0.10 | $0.01 | 131K |
| mistral-7b-instruct | Perplexity | $0.07 | $0.28 | — | 4K |
| mixtral-8x7b-instruct | Perplexity | $0.07 | $0.28 | — | 4K |
| pplx-7b-chat | Perplexity | $0.07 | $0.28 | — | 8K |
| sonar-small-chat | Perplexity | $0.07 | $0.28 | — | 16K |
| gpt-5-nano | OpenAI | $0.05 | $0.40 | $0.005 | 272K |
| ministral-3-8b-2512 | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| ministral-8b-2512 | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| ministral-8b-latest | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| devstral-small-latest | Mistral AI | $0.10 | $0.30 | $0.01 | 256K |
| mistral-small | Mistral AI | $0.10 | $0.30 | $0.01 | 32K |
| deepseek-coder | DeepSeek | $0.14 | $0.28 | $0.01 | 128K |
Cheapest with vision (image input)
| Model | Provider | Input / 1M | Output / 1M | Cached input / 1M | Context |
|---|---|---|---|---|---|
| ministral-3-3b-2512 | Mistral AI | $0.10 | $0.10 | $0.01 | 131K |
| ministral-3b-2512 | Mistral AI | $0.10 | $0.10 | $0.01 | 131K |
| ministral-3b-latest | Mistral AI | $0.10 | $0.10 | $0.01 | 131K |
| gpt-5-nano | OpenAI | $0.05 | $0.40 | $0.005 | 272K |
| ministral-3-8b-2512 | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| ministral-8b-2512 | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| ministral-8b-latest | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| gemini-2.5-flash-lite | Google Gemini API | $0.10 | $0.40 | $0.01 | 1.04858M |
| gpt-4.1-nano | OpenAI | $0.10 | $0.40 | $0.03 | 1.04758M |
| claude-haiku-5-5 | Anthropic | $0.10 | $0.50 | $0.01 | 1M |
| ministral-14b-2512 | Mistral AI | $0.20 | $0.20 | $0.02 | 262K |
| ministral-14b-latest | Mistral AI | $0.20 | $0.20 | $0.02 | 262K |
| ministral-3-14b-2512 | Mistral AI | $0.20 | $0.20 | $0.02 | 262K |
| gpt-6-luna | OpenAI | $0.10 | $0.50 | $0.01 | 922K |
| magistral-small-latest | Mistral AI | $0.15 | $0.60 | $0.01 | 262K |
Cheapest with tool calling
| Model | Provider | Input / 1M | Output / 1M | Cached input / 1M | Context |
|---|---|---|---|---|---|
| command-r7b-12-2024 | Cohere | $0.04 | $0.15 | — | 128K |
| ministral-3-3b-2512 | Mistral AI | $0.10 | $0.10 | $0.01 | 131K |
| ministral-3b-2512 | Mistral AI | $0.10 | $0.10 | $0.01 | 131K |
| ministral-3b-latest | Mistral AI | $0.10 | $0.10 | $0.01 | 131K |
| gpt-5-nano | OpenAI | $0.05 | $0.40 | $0.005 | 272K |
| ministral-3-8b-2512 | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| ministral-8b-2512 | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| ministral-8b-latest | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| devstral-small-latest | Mistral AI | $0.10 | $0.30 | $0.01 | 256K |
| mistral-small | Mistral AI | $0.10 | $0.30 | $0.01 | 32K |
| deepseek-coder | DeepSeek | $0.14 | $0.28 | $0.01 | 128K |
| gemini-2.5-flash-lite | Google Gemini API | $0.10 | $0.40 | $0.01 | 1.04858M |
| voxtral-small-2507 | Mistral AI | $0.10 | $0.40 | $0.01 | 33K |
| voxtral-small-latest | Mistral AI | $0.10 | $0.40 | $0.01 | 33K |
| gpt-4.1-nano | OpenAI | $0.10 | $0.40 | $0.03 | 1.04758M |
Cheapest reasoning models
| Model | Provider | Input / 1M | Output / 1M | Cached input / 1M | Context |
|---|---|---|---|---|---|
| gpt-5-nano | OpenAI | $0.05 | $0.40 | $0.005 | 272K |
| gemini-2.5-flash-lite | Google Gemini API | $0.10 | $0.40 | $0.01 | 1.04858M |
| claude-haiku-5-5 | Anthropic | $0.10 | $0.50 | $0.01 | 1M |
| gpt-6-luna | OpenAI | $0.10 | $0.50 | $0.01 | 922K |
| magistral-small-latest | Mistral AI | $0.15 | $0.60 | $0.01 | 262K |
| mistral-small-2603 | Mistral AI | $0.15 | $0.60 | $0.01 | 262K |
| mistral-small-latest | Mistral AI | $0.15 | $0.60 | $0.01 | 262K |
| mistral-vibe-cli-fast | Mistral AI | $0.15 | $0.60 | $0.01 | 262K |
| deepseek-v3.2 | DeepSeek | $0.28 | $0.40 | $0.03 | 164K |
| deepseek-reasoner | DeepSeek | $0.28 | $0.42 | $0.03 | 131K |
| gpt-5.6-luna | OpenAI | $0.20 | $1.20 | $0.02 | 922K |
| gpt-5.4-nano | OpenAI | $0.20 | $1.25 | $0.02 | 272K |
| deepseek-flash | DeepSeek | $0.30 | $1.20 | $0.006 | 1M |
| deepseek-v4-flash | DeepSeek | $0.30 | $1.20 | $0.006 | 1M |
| deepseek-v4-flash-vision-exp | DeepSeek | $0.30 | $1.20 | $0.006 | 1M |
Cheapest with a context window of 200K tokens or more
| Model | Provider | Input / 1M | Output / 1M | Cached input / 1M | Context |
|---|---|---|---|---|---|
| gpt-5-nano | OpenAI | $0.05 | $0.40 | $0.005 | 272K |
| ministral-3-8b-2512 | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| ministral-8b-2512 | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| ministral-8b-latest | Mistral AI | $0.15 | $0.15 | $0.01 | 262K |
| devstral-small-latest | Mistral AI | $0.10 | $0.30 | $0.01 | 256K |
| gemini-2.5-flash-lite | Google Gemini API | $0.10 | $0.40 | $0.01 | 1.04858M |
| gpt-4.1-nano | OpenAI | $0.10 | $0.40 | $0.03 | 1.04758M |
| claude-haiku-5-5 | Anthropic | $0.10 | $0.50 | $0.01 | 1M |
| ministral-14b-2512 | Mistral AI | $0.20 | $0.20 | $0.02 | 262K |
| ministral-14b-latest | Mistral AI | $0.20 | $0.20 | $0.02 | 262K |
| ministral-3-14b-2512 | Mistral AI | $0.20 | $0.20 | $0.02 | 262K |
| gpt-6-luna | OpenAI | $0.10 | $0.50 | $0.01 | 922K |
| codestral-mamba-latest | Mistral AI | $0.25 | $0.25 | $0.03 | 256K |
| magistral-small-latest | Mistral AI | $0.15 | $0.60 | $0.01 | 262K |
| mistral-small-2603 | Mistral AI | $0.15 | $0.60 | $0.01 | 262K |