FableGuide › Pricing
Claude Fable 5 costs $10 per million input tokens and $50 per million output tokens on the Claude API, twice the per-token price of Claude Opus 4.8 ($5 / $25). The 1M-token context window carries no long-context premium.
Full price table
| Model | Model ID | Input / MTok | Output / MTok | Context |
|---|---|---|---|---|
| Claude Fable 5 | claude-fable-5 | $10.00 | $50.00 | 1M |
| Claude Opus 4.8 | claude-opus-4-8 | $5.00 | $25.00 | 1M |
| Claude Sonnet 4.6 | claude-sonnet-4-6 | $3.00 | $15.00 | 1M |
| Claude Haiku 4.5 | claude-haiku-4-5 | $1.00 | $5.00 | 200K |
API list prices per million tokens. Prompt caching reads cost roughly a tenth of the input rate; cache writes cost about 1.25x the input rate. Batch processing runs at 50% of standard prices.
The free-on-plans window, then usage credits
On paid claude.ai plans (Pro, Max, Team, and seat-based Enterprise) Fable 5 is included at no extra cost from June 9 through June 22, 2026. From June 23, subscription use moves behind usage credits. Anthropic frames the change as a capacity decision and says standard access returns when capacity allows. None of this touches the API, which bills per token the entire time. There is no free public API tier. Access walkthroughs are in Start.
When Fable is worth it, and when it is not
Fable 5 is the most capable widely released Claude model: reach for it on the hardest reasoning and long-horizon agentic work, where its capability ceiling earns the premium. For everyday work, Opus 4.8 at half the price is usually the better value, with Sonnet 4.6 and Haiku 4.5 cheaper still for routine tasks. Fable also tends to be more token-efficient than prior models on hard problems, so judge by completed-task cost, not the sticker rate, but the right move is to route by task difficulty rather than default to the most expensive model. The capability comparison lives in Benchmarks.
Moral: $10 / $50 buys the ceiling, not the floor. Pay it for the hard problems; send the rest to a cheaper model. Try it free before June 22 via Start.