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About Anthropic
The Anthropic token price index is $6.37 per 1M tokens today, up 23.8% since yesterday, up 11.7% over the past week and down 21.2% over the past month. Over the past year it has ranged from $5.15 to $9.66. It is the usage-weighted average of the posted prices of Anthropic's 6 models, blending 3 input tokens with 1 output token; Claude Opus 5.5 has the largest share of usage, at 58.2%. It is calculated once a day, for each UTC day, shortly after the day ends.
Anthropic makes the Claude models. It is a public benefit corporation, founded in San Francisco in 2021 by former OpenAI staff, including Dario Amodei, its chief executive, and Daniela Amodei, its president. In May 2026 it raised $65 billion at a $965 billion valuation and said its run-rate revenue had passed $47 billion. It sells Claude through its own API and, at the same base prices, through Amazon Bedrock, Google Cloud and Microsoft Foundry.
Models and list prices
| Model | Input | Output | 3:1 blend |
|---|
| Claude Fable 5.1 | $10.00 | $50.00 | $20.00 |
| Claude Opus 5.5 | $4.00 | $20.00 | $8.00 |
| Claude Sonnet 5.5 | $2.00 | $10.00 | $4.00 |
| Claude Haiku 5.5, prompts up to 100K tokens | $0.10 | $0.50 | $0.20 |
USD per 1M tokens, standard tier, on October 24, 2026, from Anthropic's pricing page. Reading from the cache costs a tenth of the input price, but a twentieth on Opus 5.5 and Sonnet 5.5, and a fortieth on Fable 5.1. The Batch API halves all prices, "thinking" tokens are billed as output, US-only processing costs 10% more, and Haiku 5.5 prompts over 100K tokens cost five times as much.
What this index measures
Each day's value averages the standard prices of the Claude models people actually use, weighted by each model's tokens in OpenRouter's daily rankings and blended at 3 input tokens to 1 output token. It is not a bill: most real traffic is input-heavy and much of it is read from the cache, so customers usually pay less per token than the blend.
What moves Anthropic's index
- Which models are used. Claude's current prices span 100 times on input, from Haiku 5.5 at $0.10 to Fable 5.1 at $10, so a shift of usage between models can move the index more than a price change. Users move quickly: within a month of Claude 4's release, Claude Sonnet 4 had 45% of Anthropic's users, according to Menlo Ventures, an Anthropic investor.
- Flagship price cuts. Opus 4.5 cut the Opus price by two-thirds in November 2025, and Opus 5.5 is 20% below Opus 5.
- New tiers. Fable 5.1, at $10/$50, sits above Opus and raises the index when its share grows.
- Tokenizer. Claude 4.7 and later models produce about 30% more tokens for the same text, so the cost of a task can rise while the price per token stays flat.
Price history
FAQ
How much does the Claude API cost per million tokens? It depends on the model; the table above gives each model's input and output price. This index is the usage-weighted average across Anthropic's models.
Why is the index different from Anthropic's pricing page? The pricing page lists each model separately. The index averages them by how much each is used and blends input and output 3 to 1, without cache, batch or long-context pricing.
How often is it updated? Once a day: each UTC day's value is calculated shortly after that day ends, from the day's OpenRouter volumes and the prices posted then. The site checks for new data every 2 to 3 hours.
Sources
Text reviewed Oct 24, 2026; the figures in it are as of that date. The figures at the top of this page update once a day. Not investment advice.
