I think the way people usually compare pricing is fundamentally flawed. You can't compare token prices because different models use different tokenizers, and you can't compare tokenizer-normalized token prices because different models at different settings use more or fewer tokens to complete the same task at a different level of quality.
Based on my entirely subjective experience, the $100 Moonshot plan using only K3 is comparable to the $200 Anthropic deal using the whole Fable allocation and Opus 4.8 for the rest.
> Based on my entirely subjective experience, the $100 Moonshot plan using only K3 is comparable to the $200 Anthropic deal using the whole Fable allocation and Opus 4.8 for the rest.
For me, the Moonshot 100$ plan felt like it gives me lower total amount of work I can do than the Anthropic 100$ plan (probably within like 30% of each other). Kimi has way more generous 5 hour limits (never hit those once, whereas I do regularly with Opus) but the 7-day and monthly ones are lower. However, with the annual billing, Moonshot's 200$ tier plan becomes way better, because you get it for 159 USD per month.
There's also the odd thing of Anthropic's 100$ plan charging me 108 EUR so seems like their sticker price does not include VAT but Kimi's did, cause I paid like 87 EUR. Wrote down some initial thoughts at https://blog.kronis.dev/blog/kimi-k3-is-out-is-anthropic-don... but it's hard to do exact comparisons (even the same task will have way different real token amounts per model).
Still, Kimi K3 is a pretty cool model! On high reasoning, it was pretty close to Opus 4.8 and didn't seem to waste as many tokens as Max.
I got the $19 plan, and it's anemic. One tiny task blew through the 5-hour budget and 19% of the weekly budget. A completely useless amount of usage. OpenAI's $20 plan feels like 100x more generous (I don't think I'm exaggerating here). Someone in another thread said their plans are cheaper in China, maybe that's the difference, I dunno.
But, I'm finding Kimi K3 terrifyingly expensive in the way that Fable and GPT 5.5 Pro are at token rates. Not as expensive as those, but expensive enough to where if you don't put a budget cap on it, you might wake up bankrupt if you leave a task running overnight. Not because of the per-token cost, but because how many tokens it's going to burn.