Which is cheaper, Fugu Ultra or Fugu Ultra v2?

Neither: both run at $45 per million tokens, three parts input to one part output, read on 16 Sept 2026.

Where is each one cheapest?

Fugu Ultra: nobody goes below the maker's own price with a reason we can point at, so $45 is the number to beat. Fugu Ultra v2: nobody goes below the maker's own price with a reason we can point at, so $45 is the number to beat.

Can I buy both from one provider?

Yes. 5 providers sell both: Kilo Gateway, Nous Portal, OpenRouter, Sakana AI, Vercel AI Gateway. The cheapest of them for the two together is Kilo Gateway.

Which holds more context?

Both hold 1M tokens in one call.

Fugu Ultra vs Fugu Ultra v2.

model vs model · prices as of 16 Sept 2026

Fugu Ultra and Fugu Ultra v2 split the 5 rounds this table counts: the two list price rows, the cheapest price we can explain, the standard price and context. The weighting you pick decides the rest.

Sakana AI

Fugu Ultra

$45/M tokens

Sakana AI list price, nothing below it is accounted for · $4.80 per 1,000 pages

1M context · tool calling · reads images

Sakana AI

Fugu Ultra v2

$45/M tokens

Sakana AI list price, nothing below it is accounted for · $4.80 per 1,000 pages

1M context · tool calling · reads images

List price in (lower wins)

$5/M

List price out (lower wins)

$30/M

Cheapest we can explain (lower wins)

none below list

Standard price (lower wins)

$45/M

Cost per 1,000 pages (lower wins)

$4.80

Context

1M tokens

Open weights

not stated

Tool calling

yes

Structured output

yes

Reads images

yes

Reasoning

yes

Released

24 Jun 2026

11 Sept 2026

Providers selling it

Price we measure against

the maker's own

Trains on your prompts (no is better)

no provider to check

Providers selling both · 5

Kilo Gateway$45 / $45
Nous Portal$45 / $45
OpenRouter$45 / $45
Sakana AI$45 / $45
Vercel AI Gateway$45 / $45

Fugu Ultra then Fugu Ultra v2, per million tokens

Go further

open in the compare tool →every price for Fugu Ultra every price for Fugu Ultra v2

Add a third or fourth model, or switch the weighting, in the tool.

What moved in the last seven days

Fugu UltraNous Portal$4 / $24 $5 / $3025% dearer · 16 Sept 2026
Fugu Ultra v2Nous Portal$4 / $24 $5 / $3025% dearer · 16 Sept 2026
Fugu UltraNanoGPT$5.25 / $31.50 $5 / $305% cheaper · 11 Sept 2026

Frequently asked

Which is cheaper, Fugu Ultra or Fugu Ultra v2?: Neither: both run at $45 per million tokens, three parts input to one part output, read on 16 Sept 2026.
Where is each one cheapest?: Fugu Ultra: nobody goes below the maker's own price with a reason we can point at, so $45 is the number to beat. Fugu Ultra v2: nobody goes below the maker's own price with a reason we can point at, so $45 is the number to beat.
Can I buy both from one provider?: Yes. 5 providers sell both: Kilo Gateway, Nous Portal, OpenRouter, Sakana AI, Vercel AI Gateway. The cheapest of them for the two together is Kilo Gateway.
Which holds more context?: Both hold 1M tokens in one call.

Prices exclude tax and are per million tokens, read 16 Sept 2026 from each provider's own catalog. The standard price blends three parts input to one part output; a page is 600 tokens in and 60 out. Bars are scaled to the larger value in each row.