OpenAI GPT Latest is $3 cheaper per 1M input tokens (37.5% lower; 1.6x difference).
API cost decision in 10 seconds
OpenAI GPT Latest vs GPT-5.4 Image 2
Pick GPT-5.4 Image 2 for lower cost; pick OpenAI GPT Latest only if the larger context window matters more.
Pricing data updated:
Prices normalized to USD per 1M tokens
Sample workload: 1M input + 500K output
Budget verdict
Pick GPT-5.4 Image 2 for lower cost; pick OpenAI GPT Latest only if the larger context window matters more.
On the standard 1M input plus 500K output workload, GPT-5.4 Image 2 is estimated at $15.5 vs $20 for OpenAI GPT Latest, saving $4.5 (22.5% lower).
Cost-first pickGPT-5.4 Image 2
Context-first pickOpenAI GPT Latest
Sample savings$4.522.5%
10x traffic gap$45
OpenAI GPT Latest has more context, but GPT-5.4 Image 2 saves $4.5 on the standard workload. At 10x that traffic, the same price gap is about $45. Use the calculator below to replace the sample workload with your own token volume.
Cost sensitivity
Workload Sensitivity
Cost winner changes by workload shape: input-heavy / RAG favors OpenAI GPT Latest, balanced workload favors GPT-5.4 Image 2, and output-heavy chatbot favors GPT-5.4 Image 2.
| Workload shape | Token mix | Better pick | OpenAI GPT Latest | GPT-5.4 Image 2 |
|---|---|---|---|---|
| Input-heavy / RAG | 5M input + 500K output | OpenAI GPT Latest | $40 | $47.5 |
| Balanced workload | 1M input + 1M output | GPT-5.4 Image 2 | $35 | $23 |
| Output-heavy chatbot | 1M input + 5M output | GPT-5.4 Image 2 | $155 | $83 |
GPT-5.4 Image 2 is $15 cheaper per 1M output tokens (50% lower; 2x difference).
OpenAI GPT Latest has 778K more context (3.86x larger).
GPT-5.4 Image 2 is $4.5 cheaper on the standard workload (22.5% lower).
Estimate your workload cost
Your Workload Cost
This estimate uses normalized public API pricing per 1M tokens. It is a planning aid, not a billing quote. Verify provider pricing, limits, and terms before production use.
Quick Decision
OpenAI GPT Latest has the lower input price; GPT-5.4 Image 2 has the lower output price; OpenAI GPT Latest offers the larger context window. For the 1M input plus 500K output sample, GPT-5.4 Image 2 is cheaper for the standard workload.
For a 1M input token plus 500K output token workload, the estimated API cost is $20 for OpenAI GPT Latest and $15.5 for GPT-5.4 Image 2.
Choose OpenAI GPT Latest when you care most about lower input-token price, and larger context window.
Choose GPT-5.4 Image 2 when you care most about lower output-token price.
- On the standard 1M input plus 500K output workload, GPT-5.4 Image 2 is estimated at $15.5 vs $20 for OpenAI GPT Latest, saving $4.5 (22.5% lower).
- GPT-5.4 Image 2 is $4.5 cheaper on the standard workload (22.5% lower).
- OpenAI GPT Latest is $3 cheaper per 1M input tokens (37.5% lower; 1.6x difference).
- GPT-5.4 Image 2 is $15 cheaper per 1M output tokens (50% lower; 2x difference).
- OpenAI GPT Latest has 778K more context (3.86x larger).
| Feature | OpenAI GPT Latest (OpenAI) | GPT-5.4 Image 2 (OpenAI) |
|---|---|---|
| Input Price prompt tokens per 1M | $5 | $8 |
| Completion Price per 1M tokens | $30 | $15 |
| Sample Workload Cost 1M input + 500K output | $20 | $15.5 |
| Context Window | 1.05M | 272K |
| Release Date |
Use-Case Decision Matrix
| Use case | Better pick | Why |
|---|---|---|
| Budget-constrained production | GPT-5.4 Image 2 | On the standard 1M input plus 500K output workload, GPT-5.4 Image 2 is estimated at $15.5 vs $20 for OpenAI GPT Latest, saving $4.5 (22.5% lower). |
| High-volume input processing | OpenAI GPT Latest | Lower prompt-token price matters most when prompts, retrieved passages, or documents dominate the bill. |
| Long responses and chatbots | GPT-5.4 Image 2 | Lower output-token price matters most when assistants generate many completion tokens. |
| RAG or long-document work | OpenAI GPT Latest | A larger context window leaves more room for retrieved passages, conversation history, or source files. |
Related Alternatives
- gpt-oss-120b (free) can replace OpenAI GPT Latest when lower sample workload cost matters most: $0.
- gpt-oss-20b (free) can replace OpenAI GPT Latest when lower sample workload cost matters most: $0.
- gpt-oss-20b can replace OpenAI GPT Latest when lower sample workload cost matters most: $0.1.
- gpt-oss-120b can replace OpenAI GPT Latest when lower sample workload cost matters most: $0.13.
- Llama 4 Scout offers 10M context with $0.23 sample workload cost.
- Grok 4.20 Multi-Agent offers 2M context with $5 sample workload cost.
- Grok 4.20 offers 2M context with $2.5 sample workload cost.
- No popular competitor is currently available.
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