=== Example 1: long-running agent, 300,000 token cached context re-read 500 times a day, plus one 1h cache write of the same 300,000 tokens per hour for 8 hours. Output excluded. cache hit tokens/day = 150,000,000 ; 1h cache write tokens/day = 2,400,000 ; month = 30 days Fable 5.1 hits $37.50 + 1h writes $48.00 = $85.50 per day ; $2,565.00 per 30 days Fable 5 hits $150.00 + 1h writes $48.00 = $198.00 per day ; $5,940.00 per 30 days Opus 5 hits $75.00 + 1h writes $24.00 = $99.00 per day ; $2,970.00 per 30 days Fable 5.1 vs Fable 5 per day: saves $112.50 (56.8% lower) Fable 5.1 vs Opus 5 per day: saves $13.50 (13.6% lower) Same day with NO caching on Fable 5.1 (500 x 300,000 base input): $1,500.00 === Example 2: one request, 100,000 uncached input + 10,000 output, standard API Fable 5.1 input $1.00 + output $0.50 = $1.50 Opus 5 input $0.50 + output $0.25 = $0.75 Sonnet 5 input $0.20 + output $0.10 = $0.30 Fable 5.1 / Opus 5 = 2.00x ; Fable 5.1 / Sonnet 5 = 5.00x 1,000 such requests: Fable 5.1 $1,500.00 ; Opus 5 $750.00 ; Sonnet 5 $300.00 === Example 3: the same work on the Batch API (50% off every token class, caching multipliers stack) Ex1 agent month on batch, Fable 5.1 hit rate $0.125/MTok, 1h write $10/MTok: $42.75/day ; $1,282.50/30 days Ex1 agent month on batch, Fable 5 hit rate $0.5/MTok, 1h write $10/MTok: $99.00/day ; $2,970.00/30 days Ex1 agent month on batch, Opus 5 hit rate $0.25/MTok, 1h write $5/MTok: $49.50/day ; $1,485.00/30 days Ex2 request on batch, Fable 5.1 $0.7500 (1,000 requests $750.00) Ex2 request on batch, Opus 5 $0.3750 (1,000 requests $375.00) Ex2 request on batch, Sonnet 5 $0.1500 (1,000 requests $150.00) === Break-even: cache hit share h where Fable 5.1 input cost equals Opus 5 input cost Fable 5.1 per input token: 10(1-h) + 0.25h ; Opus 5: 5(1-h) + 0.50h h = 5 / 5.25 = 0.9524 -> 95.24% of input tokens must be cache hits hit share 80.00% : Fable 5.1 $2.20/MTok input vs Opus 5 $1.40/MTok input hit share 90.00% : Fable 5.1 $1.23/MTok input vs Opus 5 $0.95/MTok input hit share 95.00% : Fable 5.1 $0.74/MTok input vs Opus 5 $0.73/MTok input hit share 95.24% : Fable 5.1 $0.71/MTok input vs Opus 5 $0.71/MTok input hit share 98.00% : Fable 5.1 $0.45/MTok input vs Opus 5 $0.59/MTok input hit share 99.00% : Fable 5.1 $0.35/MTok input vs Opus 5 $0.55/MTok input Output is priced at $50 vs $25 regardless, so the break-even only ever applies to the input side. Fable 5.1 vs Fable 5: identical on every column except cache hits ($0.25 vs $1), so Fable 5.1 is never dearer.