Llm Cost Calculator
Calculate llm cost with our free tool. Get data-driven results, visualizations, and actionable recommendations. Get results you can export or share.
Formula
Cost = (Input Tokens / 1M × Input Rate) + (Output Tokens / 1M × Output Rate)
Each API request costs the sum of input token charges and output token charges. Multiply tokens used by the per-million rate for that model. Scale by number of requests for daily/monthly projections.
Worked Examples
Example 1: SaaS Chatbot on GPT-4o
Problem: Estimate monthly cost for a chatbot handling 500 requests/day with average 2,000 input tokens and 1,000 output tokens.
Solution: Cost per request: (2000/1M × $2.50) + (1000/1M × $10.00) = $0.005 + $0.01 = $0.015\nDaily: $0.015 × 500 = $7.50\nMonthly: $7.50 × 30 = $225.00
Result: $225/month — switching to GPT-4o mini would cost ~$6.75/month (97% savings)
Example 2: Document Processing Pipeline
Problem: Process 1,000 documents/day, each with 5,000 input tokens and 200 output tokens, using Claude 3.5 Sonnet.
Solution: Cost per doc: (5000/1M × $3.00) + (200/1M × $15.00) = $0.015 + $0.003 = $0.018\nDaily: $0.018 × 1,000 = $18.00\nMonthly: $18.00 × 30 = $540.00
Result: $540/month — Claude Haiku would be ~$45/month for simpler extraction tasks
Frequently Asked Questions
How do LLM API costs work?
LLM APIs charge based on token usage, with separate rates for input (prompt) and output (completion) tokens. Prices are typically quoted per 1 million tokens. Your total cost depends on: (1) which model you use, (2) how many tokens are in each request and response, and (3) how many requests you make. Output tokens are usually 2-5× more expensive than input tokens because generating each one requires a full model forward pass.
What are strategies to reduce LLM costs?
Key strategies include: (1) Use prompt caching for repeated prefixes (50% input savings). (2) Batch API requests for non-real-time tasks (50% savings). (3) Optimize prompts to reduce token count. (4) Set max_tokens limits. (5) Use fine-tuned smaller models for specific tasks. (6) Implement response caching for identical queries. (7) Use streaming to detect and stop poor responses early. (8) Consider self-hosted open-source models for very high volumes.
Can I share or bookmark my calculation?
You can bookmark the calculator page in your browser. Many calculators also display a shareable result summary you can copy. The page URL stays the same so returning to it will bring you back to the same tool.
Can I use the results for professional or academic purposes?
You may use the results for reference and educational purposes. For professional reports, academic papers, or critical decisions, we recommend verifying outputs against peer-reviewed sources or consulting a qualified expert in the relevant field.
Is Llm Cost Calculator free to use?
Yes, completely free with no sign-up required. All calculators on NovaCalculator are free to use without registration, subscription, or payment.
How accurate are the results from Llm Cost Calculator?
All calculations use established mathematical formulas and are performed with high-precision arithmetic. Results are accurate to the precision shown. For critical decisions in finance, medicine, or engineering, always verify results with a qualified professional.