LLM token prices
Glossary
Answer in brief
The 8 terms you meet when you read about LLM token prices, each in one sentence, with an entry that says what it changes for a buyer.
Terms
- Token
A token is the unit of text a language model reads and writes, usually shorter than a word, and the unit an LLM API bills in.
- Input tokens
Input tokens are all the tokens sent to a model in a request: the system prompt, the conversation so far, documents, tool definitions and the question.
- Output tokens
Output tokens are the tokens a model writes in its response, billed at the output price, which is higher than the input price.
- Cached input
Cached input is input a host has already processed in an earlier request and bills again at a lower price.
- Blended price
A blended price is one figure per million tokens made by averaging the input and output prices at an assumed mix.
- Maker rate
The maker rate is the token price charged by the lab that trained a model, on its own API.
- Host rate
A host rate is the token price charged by a company that serves a model it did not necessarily make.
- Per million tokens
Per million tokens is the unit most LLM APIs quote prices in: the charge for one million input tokens or one million output tokens.
Questions and answers
Sources for this entry
- Runcrate: Runcrate’s official site: what the platform is, its OpenAI-compatible API, how it bills and the number of models it serves. Read 12 Nov 2026.
- Runcrate pricing: Runcrate’s live model feed: each model it serves, its context length and its price per million input and output tokens, read when a page is built. Read 12 Nov 2026.
- Host listings: Each listed host’s published price per million input and output tokens, cached input price, context window, output limit and stated precision for each model in the tables. Read 12 Nov 2026.
- Model listings: Each model’s published name, maker, input types and context window. Read 12 Nov 2026.
Checklists are original editorial guidance. Published prices do not establish availability.
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Cite this entry
API Token Prices. “Glossary.” Content reviewed 12 Nov 2026. https://apitokenprices.com/glossary