The cheapest AI API is not the cheapest to run

Cost per task, not price per million tokens, decides your bill, because reasoning models can spend 3.11x to 14.78x more tokens.

Since August, DeepSeek moved to peak and off-peak rates, Anthropic cancelled the Sonnet 5 price rise, and Claude Haiku 5.5 at $0.10 and $0.50 undercuts DeepSeek Flash list prices.

Prompt caching is the largest lever: 50x off on DeepSeek Flash, 20x on Sonnet 5.5, 10x on Haiku 5.5.

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