How much do tokens cost? LLM pricing per million tokens compared across providers

How this is calculated

To calculate cost: (input_tokens / 1,000,000) × input_price + (output_tokens / 1,000,000) × output_price. A single ChatGPT interaction with a 500-token prompt and 200-token response on GPT-5.4 costs roughly $0.003. A high-volume application processing 1 million requests per day with 1,000 input tokens and 500 output tokens each on GPT-5.4 costs about $7,500 per day. Prompt caching dramatically reduces costs for repeated content: cached input tokens on GPT-5.4 cost $0.62 per million (75% discount). Batch mode (24-hour turnaround) gives a 50% discount. Always check if your use case qualifies for caching or batch pricing before scaling.

Verdict

Token costs are small per-request but add up fast at scale. Use prompt caching for repeated content, batch mode for non-urgent processing, and cheaper models for tasks that don't need frontier intelligence. The built-in LLM Pricing Calculator on this site estimates costs across models and usage patterns.