GPT Tokens to Cost Calculator
Total Cost:
$0.00
Select a Model and Enter Tokens
Embedding Models Tokens to Cost Calculator
Total Cost:
$0.00
Select a Model and Enter Tokens
Fine-tuning Models Cost Calculator
Total Cost:
$0.00
Select a Model and Enter Tokens
Frequently Asked Questions
1. How are the costs for language model usage calculated?
The costs are calculated based on the number of input and output tokens processed
by the model. The price is set per million tokens, so the formula used is:
total cost = (input token cost * number of input tokens + output token cost * number of output tokens)
/ 1,000,000. For example, GPT-4 Turbo charges $10 per million input tokens and $30 per million output tokens.
2. What's the difference between the latest GPT-4 models?
The latest models include GPT-4 Turbo (2024-04-09) which costs $10/1M input and $30/1M output tokens, offering improved performance at a lower price point than the standard GPT-4. The GPT-4 32k context version costs $60/1M input and $120/1M output tokens but can handle much longer documents and conversations. There's also GPT-4 Mini which offers a more cost-effective option at $0.15/1M input and $0.60/1M output tokens.
3. How have the embedding model options changed?
There are now three main embedding models: text-embedding-3-small ($0.02/1M tokens), text-embedding-3-large ($0.13/1M tokens), and text-embedding-ada-002 ($0.10/1M tokens). The -3 models are newer and offer improved performance, with the small version being more cost-effective and the large version offering higher quality embeddings.
4. What are the costs involved in fine-tuning models?
Fine-tuning costs now vary significantly between models. GPT-4 Turbo fine-tuning costs $25/1M tokens for training, $3.75/1M for input, and $15/1M for output. GPT-3.5 Turbo is more economical at $8/1M for training, $3/1M for input, and $6/1M for output. The GPT-4 Mini option provides a middle ground at $3/1M for training.
5. What is GPT-4 Mini and when should I use it?
GPT-4 Mini is a more cost-effective version of GPT-4, offering a balance between performance and price. It costs significantly less than standard GPT-4 ($0.15/1M input, $0.60/1M output) while maintaining good capabilities. It's ideal for projects that need better performance than GPT-3.5 but don't require the full capabilities of GPT-4.
6. How do the new GPT-3.5 Turbo prices compare to older versions?
The latest GPT-3.5 Turbo (0125) has been optimized for better cost efficiency at $0.50/1M input and $1.50/1M output tokens. This is more economical than previous versions which charged $1.00-$1.50/1M for input and $2.00/1M for output tokens. The 16k context version costs $3.00/1M input and $4.00/1M output tokens.
7. What are the differences between text-embedding-3 models?
The text-embedding-3 models come in two variants: small ($0.02/1M tokens) and large ($0.13/1M tokens). The small version is cost-effective for basic embedding needs, while the large version provides higher quality embeddings for more demanding applications. Both offer improvements over the previous ada-002 model ($0.10/1M tokens).
8. Are there any new features in the latest model updates?
Yes, the latest models include features like GPT-4 Turbo's improved performance and cost efficiency, new embedding models with better quality, and the introduction of GPT-4 Mini for more cost-effective scaling. Some models also support features like audio processing and real-time capabilities with their own specific pricing structures.
9. How can I optimize costs with the new pricing structure?
Consider using GPT-4 Mini for tasks that don't require full GPT-4 capabilities, or the new GPT-3.5 Turbo for simpler tasks. For embeddings, text-embedding-3-small offers good performance at a lower cost. When fine-tuning, carefully evaluate whether you need GPT-4 Turbo's capabilities or if GPT-3.5 Turbo would suffice, as the cost difference is significant.
10. What about audio and vision model pricing?
Audio models have specific pricing structures, with GPT-4 audio preview costing $40/1M input and $80/1M output tokens, while the mini version costs $10/1M input and $20/1M output tokens. Vision capabilities are typically included in models like GPT-4 Turbo at their standard token rates.