Moonshot made the flagship a third cheaper and eleven points smarter, then promised the checkpoint in eleven days. One of those is a strategy. The other is a calendar entry.
Yes to the rate card, not yet to the weights. Moonshot released Kimi K3.1 Pro on Friday, October 23, 2026 — the first model of a new K3.1 series, and a post-trained K3 rather than a new architecture: same 2.8T total / 104B active MoE, same 1,048,576-token context, same native multimodal input, with substantially larger post-training compute spent on long-horizon agency, 3D work and finance. The API price is $2.00 input / $0.20 cached / $10.00 output per 1M tokens, 33% below K3 on all three rates and exactly half of Claude Opus 5.5, with cache writes at $2.00 (5-minute TTL) or $4.00 (1-hour). Kimi K3.1 Pro Highspeed serves the same model 2–3× faster at $4.00 / $20.00 — but cache reads stay at $0.20, so cached agent loops pay far less than double. On the independent Artificial Analysis Intelligence Index v4.3.2 it scores 55, fourth of all models, eleven points above K3's 44, behind only Claude Opus 5.5 (58), Claude Sonnet 5.5 and Meta Muse Wonder Full — the open-versus-closed gap narrows from 12 points to 3. Moonshot's own table: Terminal-Bench 4.0 65.7% (GPT-6 Astra 58.2%, Claude Opus 5.5 66.4%), Kimi Code Bench 3.0 Long-horizon 61.2% (K3 55.95%), BenchCAD 92.7% with tools / 72.8% without. All of it is vendor-run, and the row absent from the announcement thread is Terminal-Bench Science 0.1 at 38.1% against Astra's 68.1%. Full weights are promised by November 4, 2026 — licence unpublished, K3's identical body shipped as 1.56 TB. Costed honestly, a 30-step agent run is about $1.80, or $0.94 at an 80% cache-hit rate, against $0.13 for MiniMax M3.1 Flash or DeepSeek V4.1-Flash off-peak — you are buying frontier capability, not savings. Verdict: 4.0/5.
Kimi K3.1 Pro (kimi-k3.1-pro) is Moonshot AI's October 23, 2026 flagship, and the first release in a new K3.1 series. Moonshot's own description is unusually plain: a post-trained version of Kimi K3, with substantially larger post-training compute. The company calls it "our most capable 3T-class open-weight model to date" — a marketing frame over an official 2.8 trillion total parameters with 104 billion active per token, the same sparse mixture-of-experts body that shipped in July. Nothing about the architecture, the 1,048,576-token context window, or the multimodal front end has changed. If you want the technical detail of the body — the 93 layers split 69 Kimi Delta Attention to 24 Gated MLA, the 896 routed experts of which 16 fire per token, the native MXFP4 format — it is all in the K3 review and none of it was re-announced.
So what is post-training, and why does it buy eleven index points? Pre-training is where a model learns language, code and world structure from raw data; it is also where nearly all of the compute bill and all of the parameter count live. Post-training is everything after: supervised fine-tuning on curated demonstrations, then reinforcement learning against verifiable rewards — a compiler that either builds the project or does not, a test suite that passes or fails, a physics simulator whose output is measurable. Because the reward is checkable, you can run the loop for a very long time on the same base model and get real gains in exactly the behaviours the reward measures. Moonshot spent that budget on long-horizon execution: multi-step tool use, self-diagnosis when an approach stalls, and domain data for coding, 3D modelling and financial research. The result is a model with the same brain and better habits, priced lower than its predecessor because serving cost did not change while the competitive position improved.
The context that makes the launch legible is what else happened the same day and after it. Moonshot shipped Kimi K3.1 Pro Highspeed alongside the standard model — same capabilities, two to three times the speed — across Kimi.ai, the iOS, Android and HarmonyOS apps, Kimi Work desktop for Windows and Apple Silicon (v3.1.0 or later), Kimi Code via /model, and the Kimi API. On the platform side it announced that the K2 family closes to new customers on October 31, 2026 and retires entirely by the end of December, which is a migration deadline dressed as housekeeping. And on November 4, 2026 it has promised the full weights. For how this rate card sits against the rest of the market, see our LLM API cost guide.
Most of the specification is inherited. These are the parts that are new, and the parts that have a bill or a catch attached.
reasoning_effort accepts low, high and max, and thinking cannot be switched off — there is no "instant" mode here, unlike Inception Mercury 3. Moonshot's published benchmark results are at max with temperature 1.0 and top-p 0.95, and third-party API write-ups report that the model only accepts temperature: 1 and that reasoning_effort defaults to max. If that default holds in your client, the first thing to change in your payload is the effort field, because thinking bills at the output rate.kimi-k3.1-pro-highspeed runs two to three times faster for $4.00 input / $20.00 output, with cache reads unchanged at $0.20. That asymmetry matters more than the headline: a loop living on cached context pays close to the standard rate per task, and a loop re-sending fresh long prompts every step pays double. Moonshot has not published the throughput ceiling or concurrency terms that separate the two IDs.Every number in the first table is vendor-run. Moonshot does disclose the harnesses — K3.1 Pro is evaluated with Claude Code, not its own Kimi Code — which is a more honest arrangement than the K3 launch managed, where the model ran on Moonshot's harness against rivals on Claude Code and Codex. BenchCAD is scored on 1,000-case subsets randomly sampled from a 17,900-case dataset, and competitor BenchCAD scores are lifted from Anthropic's and OpenAI's own cards. The rows worth reading:
| Benchmark (vendor-run, max effort) | Kimi K3.1 Pro | Claude Opus 5.5 | GPT-6 Astra | Claude Fable 5.1 | Kimi K3 |
|---|---|---|---|---|---|
| Terminal-Bench 4.0 (Claude Code) | 65.7 | 66.4 | 58.2 | 57.9 | — |
| Terminal-Bench Science 0.1 | 38.1 | 63.3 | 68.1 | 40.0 | — |
| BenchCAD — with tools | 92.7 | 96.2 | 95.9 | 92.6 | — |
| BenchCAD — without tools | 72.8 | 73.0 | — | 60.6 | — |
| Kimi Code Bench 3.0 Long-horizon (internal) | 61.2 | 58.5 | 66.5 | 58.8 | 55.95 |
| Kimi Hallu Bench Hard (claim-level error, lower is better) | 8.3 | 15.0 | 5.5 | 23.3 | 23.4 |
| OfficeQA Pro v2 | 64.4 | — | — | — | — |
Three things in that table are more informative than the headline. First, Terminal-Bench Science 0.1 is a rout. At 38.1% the model is 25 points behind Opus 5.5 and 30 behind GPT-6 Astra on scientific terminal work, and this is the one row Moonshot's announcement thread does not surface. If your agent's work looks like HPC, bioinformatics pipelines or anything with a scientific toolchain, the launch material does not support you and you should test it yourself. Second, the internal benchmark is where the ordering flips. On Kimi Code Bench 3.0 Long-horizon, the only benchmark in the table that is Moonshot's own, K3.1 Pro beats Opus 5.5 by 2.7 points and loses to Astra by 5.3. An internal benchmark is exactly where a lab is most likely to be measuring something it trained for; the fact that Astra still wins there is either reassuring about Moonshot's honesty or unflattering about its target, and no one outside the company can tell you which. Third, BenchCAD without tools is the most impressive row on the card. Two-tenths of a point behind Opus 5.5, on a task where the model has no tool loop to lean on, at half the token price, is a genuinely hard result to explain away.
Artificial Analysis scores Kimi K3.1 Pro at 55 on Intelligence Index v4.3.2, which is fourth of all models and eleven points above Kimi K3's 44 at max effort. The three ahead of it are all closed: Claude Opus 5.5 at 58, Claude Sonnet 5.5, and Meta Muse Wonder Full. Artificial Analysis's own framing is that K3.1 Pro will be the leading open-weights model once its weights are released, and that the gap between the best open and the best closed model narrows from 12 points to 3. Read those two numbers together, because they are the strongest honest case for this release: in July, the best model you could download was 12 index points behind the frontier; in October, the best model you will be able to download is 3 behind it, and 2.8 trillion of it fits nobody's GPU.
Every figure below is approximate, in US dollars before tax, checked on October 25, 2026 against Moonshot's API pricing documentation, the Kimi pricing resource page, and five independent model-catalogue trackers that mirror the same rate card. Confirm current pricing on platform.kimi.ai before you build — Moonshot has changed consumer plan availability and catalogue rows more than once this year.
Kimi API — the official rate card
kimi-k3.1-pro: $2.00 per 1M input · $0.20 per 1M cached input · $10.00 per 1M output · 1,048,576-token context, priced flat
kimi-k3.1-pro-highspeed: $4.00 input · $20.00 output · $0.20 cached input (unchanged) — same model, 2–3× the speed
Cache writes are billed by time to live: $2.00 per 1M at 5 minutes and $4.00 at 1 hour on the standard ID; $4.00 and $8.00 on Highspeed. Thinking tokens bill at the output rate. No long-context surcharge, no tier above the window, and no subscription: the API is strictly pay-as-you-go.
What changed against K3 — and what did not
Kimi K3 was $3.00 / $0.30 / $15.00. K3.1 Pro is $2.00 / $0.20 / $10.00. That is a 33% cut on all three legs at a flagship launch, which almost never happens, and it makes the successor cheaper than the model it replaces while scoring eleven index points higher. Against Claude Opus 5.5's $4.00 / $20.00 it is exactly half. Against Gemini 4 Argon — $2.00 / $10.00 promotional through November 30, 2026, then $4.00 / $20.00 — K3.1 Pro matches the promo price permanently, which is a real advantage once the Google discount expires.
What did not change: the 50× spread between input and output that makes agent design matter. Output is 5× input here, not 50×, but the output leg is still where bills are made, and thinking bills at the output rate. Cache reads at 10% of input are the single largest lever Moonshot gives you, and unlike K3's 90% discount era the absolute number is now $0.20, which is competitive against MiniMax's $0.015 only in relative terms — it is still 13× MiniMax and roughly 33× DeepSeek V4.1-Flash's cache rate. If your loop lives on cache hits, that line decides the bill.
Consumer, Kimi Work, Kimi Code and enterprise
K3.1 Pro is live on Kimi.ai, the iOS, Android and HarmonyOS apps, Kimi Work desktop (Windows and Apple Silicon, v3.1.0 or later) and Kimi Code via /model. Kimi's consumer plans carry a free allowance with limits and paid memberships above it — the tiers and allowances change often, so read them in the app rather than from a review. On the enterprise side, Kimi Enterprise administrators can enable K3.1 Pro for their organisation, and access is off by default at launch — a small detail with real consequences, because a rollout that "did not work" may simply be disabled.
The API has no free tier. Every token is billed from the first one, and third-party setup guides report that the API refuses K3.1 Pro calls until the account holds a positive balance, with a minimum top-up of about $1. Consumer membership does not include API credit; they are separate billing systems.
Headline rates are useless without a token count, so here is the model we use across these reviews, sized to the way a coding or browser agent actually behaves. A 30-step agent run: each step sends 20,000 input tokens — system prompt, tool schema, accumulated conversation, tool results — and receives 2,000 output tokens of reasoning plus action. Over 30 steps that is 600,000 input tokens read and 60,000 output tokens written, which fits comfortably inside the 1,048,576-token window.
The arithmetic, written out
Input: 600,000 tokens × $2.00 ÷ 1,000,000 = $1.20
Output: 60,000 tokens × $10.00 ÷ 1,000,000 = $0.60
Total: $1.80 per task.
With 80% of input served from cache: 480,000 × $0.20 ÷ 1,000,000 = $0.096, plus 120,000 × $2.00 ÷ 1,000,000 = $0.24, so input falls to $0.336 and the task to $0.94 — a 48% saving from caching alone.
| The same 30-step run | Input read | Output written | Cost | vs K3.1 Pro |
|---|---|---|---|---|
| Kimi K3.1 Pro, no cache | 600,000 | 60,000 | ~$1.80 | — |
| Kimi K3.1 Pro, 80% cache hits | 600,000 | 60,000 | ~$0.94 | 0.52× |
| Kimi K3.1 Pro Highspeed ($4 / $20) | 600,000 | 60,000 | ~$3.60 | 2.0× |
| Kimi K3 ($3 / $15) | 600,000 | 60,000 | ~$2.70 | 1.5× |
| MiniMax M3.1 Flash ($0.15 / $0.60) | 600,000 | 60,000 | ~$0.13 | 0.07× |
| DeepSeek V4.1-Flash-1017, off-peak / peak | 600,000 | 60,000 | ~$0.13 / ~$0.25 | 0.07× / 0.14× |
| Inception Mercury 3 ($0.20 / $0.70) | 600,000 | 60,000 | ~$0.16 | 0.09× |
| Claude Opus 5.5 ($4 / $20) | 600,000 | 60,000 | ~$3.60 | 2.0× |
| GPT-6 Astra ($10 / $50) | 600,000 | 60,000 | ~$9.00 | 5.0× |
Our arithmetic at published list prices, with the assumptions stated above. Cache-hit share is an assumption — measure yours from your provider dashboard. Competitor rates approximate, checked October 25, 2026.
Three conclusions. First, K3.1 Pro is the cheapest route to this class of capability, and the most expensive route to any capability. At $1.80 it is exactly half of Claude Opus 5.5 and one fifth of GPT-6 Astra for a model that scores within three index points of the former. At the same time it is 14 times MiniMax M3.1 Flash and DeepSeek V4.1-Flash at off-peak for the same token counts. Both statements are true; which one matters depends on whether your bottleneck is quality or volume. A thousand runs a month is $1,800 on K3.1 Pro against $126 on MiniMax, and that is not a rounding difference you can absorb.
Second, caching is worth more than shopping. At an 80% cache-hit rate the K3.1 Pro task falls from $1.80 to $0.94 — a 48% saving from one architectural decision about how you structure your loop, which is a bigger lever than the difference between most vendors on this page. Moonshot's cache writes are cheap ($2.00 for a 5-minute TTL), so a stable system prompt and tool schema that you deliberately pin is the highest-return engineering you can do on this model.
Third, Highspeed is a latency product, not a quality product, and it is priced against the frontier rather than against itself. At $3.60 per task it lands exactly on Claude Opus 5.5's price for a model three index points behind it. That is defensible only if the two to three times speed is worth more to you than the capability. If you are serving an interactive coding assistant where a user is watching, it probably is. If you are running overnight batch agents, it is a 2× tax for throughput you were not going to notice.
Partly, and the split matters.
Practical read: evaluate on the free Kimi app or on a $20 API top-up, then budget at $2.00 / $10.00 for anything you keep running. There is no configuration in which this model is both free and in production.
reasoning_effort defaults to max — the most expensive setting — with temperature pinned at 1.| Model | Input /1M | Output /1M | Cached /1M | Context | Weights | AA index |
|---|---|---|---|---|---|---|
| Kimi K3.1 Pro | $2.00 | $10.00 | $0.20 | 1,048,576 | Promised Nov 4, 2026 — licence unpublished | 55 |
| Kimi K3.1 Pro Highspeed | $4.00 | $20.00 | $0.20 | 1,048,576 | Same as above | 55 |
| Kimi K3 | $3.00 | $15.00 | $0.30 | 1,048,576 | Yes — 1.56 TB, Kimi K3 License | 44 |
| MiniMax M3.1 Flash | $0.15 | $0.60 | $0.015 | 1,048,576 | Promised, undated | — |
| DeepSeek V4.1-Flash-1017 | $0.15 | $0.60 | ~$0.003 | 1,048,576 | Yes — MIT, ~510 GB | — |
| Inception Mercury 3 | $0.20 | $0.70 | $0.02 | 1,000,000 | No — none announced | — |
| Claude Opus 5.5 | $4.00 | $20.00 | $0.20 | 1M | No — proprietary | 58 |
| Gemini 4 Argon | $2.00 → $4.00 | $10.00 → $20.00 | $0.10 | 1,048,576 | No — proprietary | 53 |
All prices are approximate, in US dollars, checked October 25, 2026, and change often. Confirm on each vendor's own pricing page. DeepSeek rates are off-peak and double during peak hours. Gemini 4 Argon's promotional rate runs to November 30, 2026 and then doubles. A dash in the index column means the model is not scored on Artificial Analysis Intelligence Index v4.3.2 at the time of writing, not that it scored zero.
reasoning_effort to high rather than letting it default to max, and measure before you scale.kimi-k3.1-pro, audit your reasoning_effort payloads, and use the K2 shutdown at year-end as the forcing function to finish the job.Moonshot has committed to releasing the full weights by November 4, 2026. That commitment is worth real money to three groups and roughly nothing to everyone else, and the difference is worth spelling out because "open-weight" is doing a lot of marketing work in this launch.
The chat product has a free tier and the API does not. On Kimi.ai, the iOS and Android apps, and the HarmonyOS app, K3.1 Pro is available through a free allowance that Moonshot limits by message count and by feature rather than publishing a token budget, so the honest statement is that you can use the model for free and you cannot use it for free at volume; check the current allowance in the app before you plan around it. The Kimi API has no free tier at all. Every token is billed from the first one at $2.00 per million input, $0.20 per million cached input and $10.00 per million output, and third-party setup guides report that the API rejects K3.1 Pro calls until the account holds a positive balance, with a minimum top-up of about one dollar. There is no open-weights route that would let you run it at zero marginal cost today, because the checkpoint is not published: Moonshot promises the full weights by November 4, 2026, and until a repository appears on Hugging Face there is nothing to download, quantise or serve locally. Compare that with DeepSeek V4.1-Flash, whose MIT-licensed weights are already out, or MiniMax M3.1 Flash, where weights are at least promised. If you need a genuinely free path to a frontier-adjacent model today, the free tiers at Kimi, DeepSeek and Qwen are the realistic options.
On Moonshot's own platform, kimi-k3.1-pro costs $2.00 per million cache-miss input tokens, $0.20 per million cache-hit input tokens and $10.00 per million output tokens, with the full 1,048,576-token context priced flat, so there is no long-context surcharge anywhere on the card. Cache writes are billed separately by time to live: $2.00 per million for a five-minute TTL and $4.00 per million for a one-hour TTL. That is a 33 percent cut against Kimi K3's $3.00, $0.30 and $15.00 on all three legs, which is unusual at a flagship launch and is the clearest signal that Moonshot is competing on price rather than capacity this quarter. The Highspeed model ID, kimi-k3.1-pro-highspeed, doubles the regular input, output and cache-write rates to $4.00, $20.00 and $4.00 or $8.00, but leaves cache reads at $0.20, so a cache-heavy agent loop pays much less than double. Worked example: a 30-step agent run that sends 20,000 input tokens and receives 2,000 output tokens per step reads 600,000 input tokens and writes 60,000 output tokens, which bills at 600,000 times $2.00 divided by one million, about $1.20 of input, plus 60,000 times $10.00 divided by one million, $0.60 of output, for a total of about $1.80 per task. At an 80 percent cache-hit rate the same run costs about $0.94. All figures are approximate, in US dollars before tax, and change often, so confirm on the Kimi API pricing page before you build.
Not yet, and not on home hardware even after the promised release. As of October 25, 2026 there is no checkpoint: Moonshot says the full model weights will be released by November 4, 2026, and on launch day nothing had appeared under the lab's Hugging Face organisation. When it does arrive, the size follows from the architecture, because K3.1 Pro is a post-trained K3 rather than a new model. Kimi K3 shipped as 96 safetensors shards totalling 1,561,018,243,668 bytes in native MXFP4, roughly 1.56 terabytes, and the community quantisations that exist for K3 run from about 649 GB at Unsloth's dynamic one-bit setting down to about 466 GB at the smallest, none of which fits a consumer machine and all of which are a different model from the one Moonshot benchmarked. K3's published minimum serving configuration is a single node of eight B300 or eight MI355X class accelerators, and the consumer ceiling is a 512 GB Mac Studio, which is under a third of the weight floor. The practical answer for almost everyone is to rent the model through the API or through a host such as OpenRouter, and to treat the open-weights release as a research and data-residency event rather than a local-inference one. If local inference is genuinely your requirement, the models that fit are DeepSeek V4.1-Flash under MIT at about 510 GB of weights and a 614 GB VRAM floor, or a smaller open family such as Qwen.
It is close on agentic coding and behind on the composite, and the price changes what close is worth. On Artificial Analysis Intelligence Index v4.3.2, Kimi K3.1 Pro scores 55 and Claude Opus 5.5 scores 58, so Opus leads by three points while costing exactly twice as much per token at $4.00 and $20.00 against $2.00 and $10.00. On Moonshot's own Terminal-Bench 4.0 table the gap is 0.7 points, 65.7 percent for K3.1 Pro against 66.4 for Opus 5.5, and on BenchCAD without tools it is 0.2 points, 72.8 against 73.0, with tools widening it to 3.5 points at 92.7 against 96.2. Moonshot's internal Kimi Code Bench 3.0 Long-horizon actually puts K3.1 Pro ahead of Opus 5.5 at 61.2 against 58.5, though behind GPT-6 Astra at 66.5. Against that, Artificial Analysis reports K3.1 Pro as the highest-scoring model on Terminal-Bench 4.0 in its own runs, which contradicts Moonshot's table and is a reminder that agentic scores belong to a model plus a harness. Where the comparison stops being close is scientific terminal work: Terminal-Bench Science 0.1 is 38.1 percent for K3.1 Pro against 63.3 for Opus 5.5 and 68.1 for GPT-6 Astra. The fair summary is that K3.1 Pro buys roughly 95 percent of Opus 5.5's agentic coding capability for 50 percent of the token price, that it is the better purchase for high-volume coding agents, and that Opus 5.5 remains the right answer when the task is hard science, when a 3-point index gap matters more than the bill, or when you need a vendor with a published licence and no jurisdiction question.
Highspeed is the same model served faster, not a smaller or distilled one, and it does cost more. Moonshot describes kimi-k3.1-pro-highspeed as delivering two to three times the speed of the standard model with the same capabilities. On the rate card it is $4.00 per million input tokens and $20.00 per million output tokens against $2.00 and $10.00 for the standard model, with cache writes also doubled at $4.00 for a five-minute TTL and $8.00 for one hour. The detail that matters is that cache reads stay at $0.20 per million on both models, so the premium is not a clean doubling: an agent loop that runs mostly on cached context pays close to the standard rate, while a loop that re-sends fresh long prompts every step pays the full double. On our modelled 30-step run that reads 600,000 input tokens and writes 60,000 output tokens, the standard model costs about $1.80 and Highspeed about $3.60, which lands exactly on Claude Opus 5.5's price for a model that is faster but three index points behind. Moonshot has not published the throughput ceiling, rate limits or concurrency terms that distinguish the two IDs on its public pages, so if latency is the reason you are considering Highspeed, benchmark it against the standard ID on your own workload before you commit.
Yes if you are calling the API, because the successor is cheaper on every rate and better on every published benchmark. The model ID changes from kimi-k3 to kimi-k3.1-pro, the request shape is unchanged, and the price falls from $3.00 to $2.00 input, $0.30 to $0.20 cached and $15.00 to $10.00 output, so a workload that cost $2.70 on K3 costs $1.80 on K3.1 Pro for the same 600,000 input and 60,000 output tokens. Quality moves too: Terminal-Bench 4.0 at 65.7 against K3's result, Kimi Code Bench 3.0 Long-horizon at 61.2 against 55.95, and claim-level hallucination falling from 23.4 to 8.3 percent on Kimi Hallu Bench Hard. There is no scenario in which staying on K3 for cost reasons makes sense. Two migration warnings apply. First, thinking is always on and cannot be switched off, and third-party API write-ups report that reasoning_effort defaults to max, the most expensive setting, so audit your call payloads before you assume the new price holds. Second, the wider K2 family is being retired: Moonshot's pricing documentation says new customers lose access to K2 models from October 31, 2026 and the series shuts down by the end of December, so any workload still pinned to K2 has roughly two months to move, and K3.1 Pro is the obvious destination for most of it.
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