This tool helps you estimate the API cost for the latest GPT-4 models based on your expected input and output token usage. Costs are calculated using the standard pay-as-you-go pricing model for GPT-4o.
GPT-4 Cost Calculator
Advanced: Change Model Pricing
GPT-4 Cost Calculator Formula
Total Cost = (Input Tokens / 1,000 * Input Price per 1K) + (Output Tokens / 1,000 * Output Price per 1K)
Formula Source: OpenAI Pricing
Additional Source: Forbes Advisor
Variables
The calculator uses the following variables, with default values set to the latest GPT-4o model pricing:
- Input Tokens: The total count of tokens used in your prompts (the data you send to the model).
- Output Tokens: The total count of tokens generated by the model in its response (the data you receive).
- Price per 1K Input Tokens: The cost charged for every 1,000 tokens sent. Default is $0.005 (GPT-4o).
- Price per 1K Output Tokens: The cost charged for every 1,000 tokens received. Default is $0.015 (GPT-4o).
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What is GPT-4 Cost Calculator?
The GPT-4 Cost Calculator is an essential tool for developers and businesses utilizing the OpenAI API. Since Large Language Models (LLMs) like GPT-4, GPT-4o, and GPT-3.5 are priced based on token usage—specifically, separate rates for input (prompt) and output (completion)—it can be challenging to predict monthly expenditures accurately.
This calculator simplifies the process by allowing users to input their anticipated usage volume (in tokens) and the current model pricing to quickly generate a total cost estimate. Understanding this metric is crucial for budgeting, optimizing prompts to reduce length, and selecting the most cost-effective model for a given application.
How to Calculate GPT-4 Cost (Example)
Let’s use an example where a user interacts with the API 10,000 times, and each interaction averages 500 input tokens and 100 output tokens (using GPT-4o pricing: $0.005 input / $0.015 output per 1k tokens).
- Determine Total Tokens:
- Total Input Tokens: 10,000 interactions * 500 tokens/interaction = 5,000,000 tokens
- Total Output Tokens: 10,000 interactions * 100 tokens/interaction = 1,000,000 tokens
- Calculate Input Cost: (5,000,000 / 1,000) * $0.005 = $25.00
- Calculate Output Cost: (1,000,000 / 1,000) * $0.015 = $15.00
- Determine Total Cost: $25.00 (Input) + $15.00 (Output) = $40.00
Frequently Asked Questions (FAQ)
What is a token in the context of GPT-4?
A token is a piece of a word. For English text, one token is roughly equivalent to 4 characters or 0.75 words. The model processes and charges based on these tokens, not raw characters.
Do input and output tokens cost the same?
No. Output tokens (the text generated by the AI) are almost always more expensive than input tokens (the text you send in the prompt). The price difference can be significant, often 2x to 5x higher.
What is the cheapest GPT-4 model?
As of late 2024, the GPT-4o model is the most cost-efficient option within the GPT-4 family, offering significantly lower rates for both input and output compared to its predecessors like GPT-4 Turbo.
What happens if I enter zero tokens?
If you enter zero tokens for both input and output, the calculator will correctly return a total cost of $0.00. However, the calculation requires at least one token value to be greater than zero to provide a meaningful result.