TokenMix Research Lab · 2026-04-24
All ChatGPT Models Compared 2026: 4o, 4.1, 5, 5.1, Codex
Last Updated: 2026-04-24
Author: TokenMix Research Lab
OpenAI's model lineup in 2026 includes 14+ distinct GPT variants accessible via the API, each with different pricing, context windows, specialization, and quality tiers. This complete comparison covers GPT-4o, GPT-4o-mini, GPT-4.1, GPT-4.5, GPT-5, GPT-5-mini, GPT-5-nano, GPT-5.1, GPT-5.2, GPT-5.4 (Standard/Thinking/Pro), and Codex variants — with side-by-side pricing, benchmark scores, max context, and the decision framework for "which to use when". All data verified against OpenAI's pricing page and model documentation as of April 24, 2026. TokenMix.ai routes all 14+ variants through one OpenAI-compatible endpoint for easy A/B testing.
Table of Contents
- Confirmed vs Speculation
- Complete Model Matrix
- Pricing Tier Breakdown
- Which Model for Which Task
- Cost Math: Typical Monthly Spend
- Deprecated Models Still Available
- FAQ
Confirmed vs Speculation
| Claim | Status | Source |
|---|---|---|
| 14+ GPT variants currently available | Confirmed | OpenAI pricing |
| GPT-5.4 is current Standard flagship | Confirmed | March 2026 release |
| GPT-5.5 "Spud" upcoming | Confirmed — not yet released | GPT-5.5 release date |
| GPT-5.4 Pro at premium pricing | Confirmed | $30/$180 per MTok |
| All models share 272K context (except 4o variants at 128K) | Partial — varies | |
| GPT-5.4 Thinking uses test-time compute | Confirmed | OSWorld benchmark |
| Models deprecated after 18 months typical | Generally true |
Snapshot note (2026-04-24): GPT-5.5 launched April 23, 2026 — this article was written pre-launch and the matrix below does not include the GPT-5.5 line. GPT-5.5 doubled per-token prices on the GPT-5 family ($5 input / $30 output vs GPT-5's $2.50/$15); expect the "current flagship" designation to shift to GPT-5.5 within weeks. GPT-5.4 and mini/nano variants remain accessible for at least 12 months post-superseding. Verify live pricing on OpenAI's page before budget modeling.
Complete Model Matrix
| Model | Input $/MTok | Output $/MTok | Context | Best for |
|---|---|---|---|---|
| Legacy 4o family | ||||
| gpt-4o | $2.50 | $10 | 128K | Legacy production |
| gpt-4o-mini | $0.15 | $0.60 | 128K | Cheap general chat |
| gpt-4-1106-preview | $10 | $30 | 128K | Deprecated, avoid |
| 4.1 family | ||||
| gpt-4.1 | $2.00 | $8 | 1M | Long-context 4o successor |
| gpt-4.1-mini | $0.40 | $1.60 | 1M | Budget long-context |
| gpt-4.1-nano | $0.10 | $0.40 | 1M | Cheapest long-context |
| gpt-4.5 | $75 | $150 | 128K | Premium research |
| GPT-5 family | ||||
| gpt-5 | $2.50 | $15 | 272K | Flagship base |
| gpt-5-mini | $0.25 | $2 | 272K | GPT-5 budget |
| gpt-5-nano | $0.05 | $0.40 | 272K | Cheapest GPT-5 |
| gpt-5-pro | $30 | $180 | 272K | Premium reasoning |
| gpt-5-codex | $2.50 | $15 | 272K | Coding specialist |
| GPT-5.1-5.2 family | ||||
| gpt-5.1 | $2.50 | $15 | 272K | Current best chat |
| gpt-5.1-codex | $2.50 | $15 | 272K | Current coding |
| gpt-5.1-codex-max | $10 | $40 | 272K | Premium coding |
| gpt-5.2 | Preview | Preview | 272K | Preview access only |
| GPT-5.4 family | ||||
| gpt-5.4 | $2.50 | $15 | 272K | Current flagship |
| gpt-5.4-mini | $0.25 | $1 | 272K | Current budget |
| gpt-5.4-nano | $0.05 | $0.40 | 272K | Ultra budget |
| gpt-5.4-pro | $30 | $180 | 272K | Premium tier |
| gpt-5.4-thinking | $2.50 | $15* | 272K | Test-time reasoning |
*Thinking mode bills extra reasoning tokens as output
Pricing Tier Breakdown
Cost tiers grouped:
Ultra-budget ($0.05-0.10 input): gpt-5-nano, gpt-5.4-nano, gpt-4.1-nano — use for classification, tagging, batch summarization
Budget ($0.15-0.40 input): gpt-4o-mini, gpt-4.1-mini, gpt-5-mini, gpt-5.4-mini — general chat at scale
Standard ($2.00-2.50 input): gpt-4o, gpt-4.1, gpt-5, gpt-5.1, gpt-5.4, all codex variants — default production
Premium ($10+ input): gpt-5.1-codex-max ($10), gpt-5-pro / gpt-5.4-pro ($30), gpt-4.5 ($75) — specialized
Which Model for Which Task
| Task | Recommended model | Why |
|---|---|---|
| Default production chat | gpt-5.4 | Latest, balanced |
| Classification / labeling | gpt-5.4-nano | 50× cheaper |
| Real-time chat (latency-critical) | gpt-5.4-mini | Fast + cheap |
| Coding agent | gpt-5.1-codex or Claude Opus 4.7 | Code-specialized |
| Complex multi-step reasoning | gpt-5.4-thinking | Test-time compute |
| Long document analysis (>200K) | gpt-4.1 (1M context) | Context ceiling |
| Autonomous complex refactor | gpt-5.1-codex-max | Extended thinking |
| Research-grade reasoning | gpt-4.5 or gpt-5-pro | Premium quality |
| Vision + text | gpt-5.4 | Multimodal in flagship |
| Real-time audio | gpt-4o-realtime-preview | WebSocket |
| Fine-tuning base | gpt-4o-mini | Still supported for FT |
Cost Math: Typical Monthly Spend
Mid-size SaaS, 500M input + 125M output tokens/month:
| Model | Input cost | Output cost | Total |
|---|---|---|---|
| gpt-5.4-nano | $25 | $50 | $75 |
| gpt-5.4-mini | $125 | $125 | $250 |
| gpt-5.4 | $1,250 | $1,875 | $3,125 |
| gpt-5.4-thinking | $1,250 | $3,750 (inflated) | $5,000 |
| gpt-5.4-pro | $15,000 | $22,500 | $37,500 |
For most products, routing 70% to nano/mini + 25% to standard + 5% to pro/thinking saves 60-80% vs single-tier.
Deprecated Models Still Available
OpenAI keeps older models accessible for ~18 months:
- gpt-3.5-turbo — deprecated but functional until late 2026
- gpt-4-turbo — deprecated, not recommended for new
- gpt-4-1106-preview — legacy, avoid
For migration from these, skip directly to gpt-5.4 family.
FAQ
What's the single best ChatGPT model in 2026?
Depends on criteria. Cheapest: gpt-5.4-nano ($0.05/$0.40). Balanced: gpt-5.4 ($2.50/$15). Coding: gpt-5.1-codex. Long-context: gpt-4.1 (1M context). Premium: gpt-5.4-pro or gpt-4.5.
Is gpt-5.4 the same as gpt-5?
No. gpt-5 was the original 5-series flagship (August 2025). gpt-5.4 is the current generation (March 2026) with meaningful capability improvements. For new projects, gpt-5.4.
Is gpt-5.5 (Spud) released yet?
Yes — GPT-5.5 shipped April 23, 2026 at $5 input / $30 output per MTok (2× the GPT-5.4 list price), with 88.7% SWE-Bench Verified, 92.4% MMLU, 60% hallucination reduction vs GPT-5.4, and natively omnimodal architecture. See GPT-5.5 full review and the original release date prediction.
Is gpt-4.1 still worth using?
Yes for 1M-context workloads. It's the cheapest long-context option at $0.10-$2.00 input. For <272K context, use gpt-5.4 instead.
What about GPT-6?
Unreleased. Some rumors circulating but not officially announced. See GPT-6 release date tracker.
How do I migrate from gpt-4o to gpt-5.4?
Drop-in model name change. Same API, similar pricing, better quality. Test 100 representative prompts to verify quality improvement on your use case.
Is there a GPT-5.4 Vision?
Vision is integrated into gpt-5.4 itself (accepts images in messages). No separate "Vision" variant. Same for gpt-5.1, gpt-4.1, gpt-4o — all multimodal.
Sources
- OpenAI API Pricing
- OpenAI Models Reference
- GPT-5.5 Release Date — TokenMix
- GPT-5.4 Thinking Review — TokenMix
- GPT-5.1 Codex Review — TokenMix
- GPT-5.5 vs Claude Opus 4.7 Showdown — TokenMix
By TokenMix Research Lab · Updated 2026-04-24