GPT-5.4 / GPT-5.4 mini / GPT-5.4 nano / GPT-4o / GPT-4o mini: Pricing and Performance Comparison
This article compares the pricing, specs, and performance of OpenAI's current API models: GPT-5.4, GPT-5.4 nano, GPT-5.4 mini, GPT-4o, and GPT-4o mini, along with guidance on which model to choose for different use cases.
Unit: USD / 1M tokens (MTok). Information as of April 2026.
Pricing Comparison
| Model | Input | Cached Input | Output |
|---|---|---|---|
| GPT-5.4 | $2.50 | $1.25 | $15.00 |
| GPT-5.4 mini | $0.75 | $0.075 | $4.50 |
| GPT-5.4 nano | $0.20 | $0.02 | $1.25 |
| GPT-4o | $2.50 | $1.25 | $10.00 |
| GPT-4o mini | $0.15 | $0.075 | $0.60 |
GPT-4o mini is the cheapest on both input and output, but its knowledge cutoff is October 2023, making it unsuitable for tasks requiring up-to-date information. GPT-5.4 nano has nearly the same input cost as GPT-4o mini, while offering GPT-5.4 family quality and knowledge up to August 2025. GPT-5.4 (flagship) matches GPT-4o on input cost but has a high output cost of $15.00/MTok, making it best suited for tasks that demand top-quality reasoning.
When using regional processing endpoints, a 10% surcharge applies to the GPT-5.4 series.
Specs Comparison
| Model | Context | Max Output | Image Input | Knowledge Cutoff |
|---|---|---|---|---|
| GPT-5.4 | 400K | 128K | ✓ | August 2025 |
| GPT-5.4 mini | 400K | 128K | ✓ | August 2025 |
| GPT-5.4 nano | 400K | 128K | ✓ | August 2025 |
| GPT-4o | 128K | 16,384 | ✓ | October 2023 |
| GPT-4o mini | 128K | 16,384 | ✓ | October 2023 |
The GPT-5.4 series dramatically expands the context window to 400K tokens and supports up to 128K tokens of output. GPT-4o and GPT-4o mini are capped at 128K context and 16K output.
Performance Comparison
GPT-5.4
The flagship model of the GPT-5.4 family. It represents the highest intelligence available from OpenAI in the current generation, significantly outperforming GPT-5.4 mini in complex reasoning, long-form generation, and advanced coding. It supports all native tools including computer use, MCP, and web search, with full multimodal input/output support. Given the high output cost of $15.00/MTok, it is most effective when reserved for tasks where top-quality output is essential.
GPT-5.4 mini
The mid-tier model of the GPT-5.4 family, optimized for coding, computer use, and sub-agent tasks. It consistently outperforms GPT-5 mini and achieves pass rates close to the flagship GPT-5.4 with faster processing. Benchmarks show a 2× or greater speed improvement over GPT-5 mini, offering the best performance/latency trade-off for coding workflows.
GPT-5.4 nano
The smallest and most affordable model in the GPT-5.4 family. Optimized for high-volume use cases where speed and cost are the top priorities — such as classification, data extraction, ranking, and coding sub-agents. Not suited for complex tasks requiring deep reasoning.
GPT-4o
The general-purpose flagship model with high intelligence for both text and image tasks. It is now a legacy model, superseded by the GPT-5.4 series. GPT-4o was retired from ChatGPT in February 2026, but API access remains available.
GPT-4o mini
Designed as a compact model ideal for fine-tuning. Achieves results comparable to larger models (GPT-4o) at lower cost and latency through distillation. MMLU score: 82.0%. Best suited for minimizing inference costs on simple tasks.
Which Model to Choose
- High-volume / cost-first: GPT-5.4 nano or GPT-4o mini. Choose GPT-5.4 nano if up-to-date knowledge is required; GPT-4o mini if fine-tuning is needed.
- Coding and agents: GPT-5.4 mini. The best balance of speed and accuracy.
- Complex reasoning / high-quality output: GPT-5.4. High cost at $2.50 input / $15.00 output per MTok, but delivers the best output quality of the current generation.
- Legacy system compatibility: GPT-4o. API access remains available, allowing existing integrations to continue.
Best Value Options
For cost-effectiveness, the two standout models are GPT-5.4 nano and GPT-5.4 mini.
GPT-5.4 nano has nearly the same input cost as GPT-4o mini ($0.20 vs $0.15), yet offers a 400K context window, knowledge up to August 2025, and full access to native tools such as web search, file search, and MCP. It surpasses GPT-4o mini in almost every dimension except knowledge cutoff, so switching to GPT-5.4 nano makes sense for any use case that doesn't require fine-tuning.
GPT-5.4 mini is cheaper on input ($0.75) than GPT-4o ($2.50/MTok) while outperforming GPT-4o in coding and agentic workflows. If you regularly use GPT-4o, switching to GPT-5.4 mini is likely to reduce costs while improving performance simultaneously.
On the other hand, GPT-4o now feels overpriced. Its input cost matches GPT-5.4 ($2.50/MTok), yet it falls behind in context size, knowledge recency, and tool support. Unless you specifically need fine-tuning or compatibility with existing systems, there is little reason to actively choose GPT-4o.
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