Calculate how much it will cost to generate certain number of words by using OpenAI GPT-3.5 and GPT-4 APIs.
Select the base language model:
Estimated price to generate words:
As OpenAI bills you based on the number of tokens sent in your prompt plus the number of tokens returned by the API, I am taking an assumption of prompt length of 100 words for each 1000 words generated by the API. I am adding that cost to the final cost as well.
But if your prompt length is different than the assumed value of 100 words per 1000 generated words, you can enter the value in the above field. And the final estimated price gets updated.
For GPT-4 (8K) and GPT-4 (32K) contexts, the prompt prices are $0.03/1k tokens and $0.06/1k tokens respectively.
This calculator takes the information provided on the official OpenAI website to calculate the estimated price based on the number of words. The calculator assumes that 1000 tokens are about 750 words, as OpenAI recommends; but if you want to understand tokens better, you can look here.
Apart from this, I have also created the DALL-E Price Calculator and Whisper Price Calculator that you may find helpful.