OpenAI API Cost Calculator

Here is a tool we have developed that you can use to calculate how much using certain OpenAI API models cost:

OpenAI API Pricing Calculator

Frequently Asked Questions – OpenAPI API Pricing Calculator:

Here are some frequently asked questions related to OpenAI API pricing:

How To calculate the costs of using OpenAI API?

To calculate the pricing of OpenAI API, you need to go through the following steps:

  1. Determine the word count or approximate number of tokens for the text you want to generate.
  2. Identify the appropriate API product or model you intend to use for generating the text.
  3. Add these inputs into the above calculator
  4. Click on the ‘Calculate’ button.

What’s an OpenAPI API token?

You can think of tokens as pieces of words used for natural language processing. For English text, 1 token is approximately 4 characters or 0.75 words.

Which OpenAI API model should I use?

While Davinci (text-davinci-003) is generally the most capable model, the other models can perform certain tasks extremely well and, in some cases, significantly faster. They also have cost advantages. For example, Curie can perform many of the same tasks as Davinci, but faster and for 1/10th the cost. You should experiment to find the model that’s most efficient for your application.

How does the pricing calculator estimate the cost?

The pricing calculator estimates the cost based on the word count you provide and the selected API product. It uses the price per 1,000 tokens for each model to calculate an estimated price. Please note that the actual cost may vary depending on factors such as token usage and specific API call details.

What is the word count used for?

The word count is used as an input to estimate the number of tokens required for the text generation. The calculator converts the word count into tokens based on an average token-to-word ratio.

How accurate is the estimated price?

The estimated price provided by the calculator is for reference purposes and is subject to change. It is based on the current pricing information available but may not reflect any updates or changes made by OpenAI. For the most accurate pricing details, it is recommended to refer to OpenAI’s official pricing documentation.