How much does Claude Fable 5 cost?

Claude Fable 5 costs $10 per million input tokens and $50 per million output tokens on the Claude API, twice the price of Claude Opus 4.8 ($5/$25). There is no long-context premium on the 1M-token window. Following the July 1, 2026 restoration, paid claude.ai plans include it at 50% of weekly usage limits through July 7, 2026, then it requires usage credits.

How much does Claude Fable 5 cost per token?

$10 per million input tokens and $50 per million output tokens on the Claude API. That is twice the per-token price of Claude Opus 4.8, which is $5 per million input and $25 per million output.

When should I use Fable 5 instead of a cheaper Claude model?

Use Fable 5 for the hardest reasoning and long-horizon agentic work where its capability ceiling justifies the price. For routine work, Opus 4.8 at half the price, Sonnet 5 ($2/$10 intro pricing through August 31, 2026, then $3/$15), or Haiku 4.5 are better value. Route by task difficulty rather than defaulting to the most expensive model.

Is there a long-context pricing premium on Fable 5?

No. Fable 5 provides its 1M-token context window at the standard $10/$50 per-million rate with no long-context surcharge. Prompt caching can cut repeated input to roughly a tenth of the input rate.

Claude Fable 5 Pricing — $10 in / $50 out per million tokens

Updated July 2, 2026. Fable 5 was restored worldwide July 1 after the June suspension; Pro/Max/Team plans now include it at 50% of weekly limits through July 7, usage credits after. API prices unchanged. Latest news →

ClaudeFieldGuide › 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 5 (new Jun 30)	`claude-sonnet-5`	$2.00 intro thru Aug 31, then $3.00	$10.00 intro thru Aug 31, then $15.00	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 included-on-plans window, then usage credits

Updated July 2, 2026. Following the July 1 restoration, paid claude.ai plans (Pro, Max, Team, and select Enterprise) include Fable 5 at 50% of weekly usage limits through July 7, 2026. From July 8, subscription use moves behind usage credits; standard Enterprise is credits-only throughout. 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 5 (the new budget agent runner) 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; for a task-by-task routing guide, see what to run on Fable 5 at our dedicated Fable 5 guide.

Moral: $10 / $50 buys the ceiling, not the floor. Pay it for the hard problems; send the rest to a cheaper model. Try it on plan limits before July 7 via Start.