LLM API Actual Cost vs List Price: Why the Numbers on the Pricing Page Are Almost Meaningless
Claude Sonnet 5 lists at $2/$10 per million tokens. GPT-5.6 Terra lists at $2/$12. Mathematically correct, practically useless. Your actual monthly bill depends on whether your prompts cache, whether you batch, and how much context you send—none of which appear on a rate card. LLM API actual cost vs list price can diverge by a