Claude Haiku 5.5 vs Fugu Max
Anthropic · US | Sakana AI · Global · Updated June 2026
Quick verdict
Pick Claude Haiku 5.5 for 5x the context window of haiku 4.5 (1m vs 200k tokens) and double the max output (128k vs 64k) or first haiku-class model with an adjustable 'effort' setting to trade off cost, latency, and intelligence. Pick Fugu Max for cost-efficient multi-agent orchestration — undercuts claude sonnet 5 and kimi k3 on output cost by a claimed 40-60% or 1m-token context window at $2/$6 per million tokens. On a tight budget at scale, Claude Haiku 5.5 is the value pick.
Claude Haiku 5.5 (Anthropic) and Fugu Max (Sakana AI) are two of the models people most often weigh against each other in 2026. Claude Haiku 5.5 is anthropic's October 7, 2026 small-model refresh — a 1M-token context window (up from 200K) at roughly 75% lower average cost than Haiku 4.5, priced at $0.10/$0.50 per million tokens. Fugu Max is sakana AI's cost-first multi-agent orchestration model — not a single trained model, but a routed pool of models behind one API, priced at $2/$6 per million tokens. Their biggest split is price, and the breakdown below shows exactly how that plays out for your workload.
Key differences at a glance
- ▸Price: Claude Haiku 5.5 is about 20× cheaper on input ($0.1/$0.5 per 1M tokens vs $2/$6 per 1M tokens) — a large enough gap that at scale it can be the single biggest line item in the decision.
- ▸Context window: both advertise 1M tokens (~1,500 pages). Tie on paper — test on your own long inputs, since usable recall varies by model.
- ▸Recency: Claude Haiku 5.5 is the newer model by about 27 days (released October 7, 2026), usually meaning fresher training data and capabilities.
Side-by-side specs
| Spec | Claude Haiku 5.5 | Fugu Max |
|---|---|---|
| Provider | Anthropic (US) | Sakana AI (Global) |
| Released | October 7, 2026 | September 10, 2026 |
| Context window | 1M tokens (~1,500 pages) | 1M tokens (~1,500 pages) |
| Price (in/out) | $0.1/$0.5 per 1M tokens | $2/$6 per 1M tokens |
| Open weight? | No — API only | No — API only |
| Modalities | text, image, code | text |
| SWE-Bench Verified | Not published | Not published |
| MRCR v2 @ 1M | Not published | Not published |
Who wins what
5x the context window of Haiku 4.5 (1M vs 200K tokens) and double the max output (128K vs 64K)
Claude Haiku 5.5
Anthropic's October 7, 2026 small-model refresh — a 1M-token context window (up from 200K) at roughly 75% lower average cost than Haiku 4.5, priced at $0.10/$0.50 per million tokens — and it runs cheaper at $0.1/$0.5 per 1M tokens.
First Haiku-class model with an adjustable 'effort' setting to trade off cost, latency, and intelligence
Claude Haiku 5.5
At $0.1/$0.5 per 1M tokens it undercuts Fugu Max ($2/$6 per 1M tokens), and that gap compounds at volume.
Anthropic's cheapest small model yet — runs about 75% cheaper on average than Haiku 4.5
Claude Haiku 5.5
Fugu Max is comparatively weak here — not a single trained model — Sakana describes Fugu as "a Multi-Agent System, Delivered as One Model" that routes tasks across a pool of other models, so raw benchmark comparisons to monolithic models can be misleading
Cost-efficient multi-agent orchestration — undercuts Claude Sonnet 5 and Kimi K3 on output cost by a claimed 40-60%
Fugu Max
Claude Haiku 5.5 is comparatively weak here — as the smallest tier, trails both Sonnet 5.5 and Opus 5.5 on hard reasoning and open-ended work
1M-token context window at $2/$6 per million tokens
Fugu Max
Claude Haiku 5.5 is comparatively weak here — pricing jumps roughly 5x beyond 100K-token prompts ($0.50/$2.50 per million vs the headline $0.10/$0.50)
OpenAI-compatible API — drop-in replacement for single-model integrations
Fugu Max
Fugu Max lists openAI-compatible API — drop-in replacement for single-model integrations among its strengths; Claude Haiku 5.5 does not.
Lowest cost at scale
Claude Haiku 5.5
At $0.1/$0.5 per 1M tokens, it is the cheaper of the two — the gap dominates the bill on high-volume workloads.
Which should you pick?
A cost-sensitive startup shipping high volume
→ Claude Haiku 5.5
At $0.1/$0.5 per 1M tokens it undercuts Fugu Max, and on millions of tokens that margin decides the monthly bill.
Anyone whose priority is 5x the context window of haiku 4.5 (1m vs 200k tokens) and double the max output (128k vs 64k)
→ Claude Haiku 5.5
It is specifically built for that.
Anyone whose priority is cost-efficient multi-agent orchestration — undercuts claude sonnet 5 and kimi k3 on output cost by a claimed 40-60%
→ Fugu Max
That is its strongest area.
Claude Haiku 5.5: where it fits
Anthropic's October 7, 2026 small-model refresh — a 1M-token context window (up from 200K) at roughly 75% lower average cost than Haiku 4.5, priced at $0.10/$0.50 per million tokens. Released October 7, 2026 by Anthropic, it is built for 5x the context window of Haiku 4.5 (1M vs 200K tokens) and double the max output (128K vs 64K), first Haiku-class model with an adjustable 'effort' setting to trade off cost, latency, and intelligence, anthropic's cheapest small model yet — runs about 75% cheaper on average than Haiku 4.5, and over-refuses benign requests only 0.17% of the time on the API, down from Haiku 4.5's 0.44%.
Its trade-offs are real: pricing jumps roughly 5x beyond 100K-token prompts ($0.50/$2.50 per million vs the headline $0.10/$0.50), extended thinking can no longer be fully disabled — only dialed between low, medium, and high effort, and as the smallest tier, trails both Sonnet 5.5 and Opus 5.5 on hard reasoning and open-ended work. At $0.1 in / $0.5 out per million tokens, it sits in the budget price band.
Fugu Max: where it fits
Sakana AI's cost-first multi-agent orchestration model — not a single trained model, but a routed pool of models behind one API, priced at $2/$6 per million tokens. Released September 10, 2026 by Sakana AI, it is built for cost-efficient multi-agent orchestration — undercuts Claude Sonnet 5 and Kimi K3 on output cost by a claimed 40-60%, 1M-token context window at $2/$6 per million tokens, and openAI-compatible API — drop-in replacement for single-model integrations.
Its trade-offs: not a single trained model — Sakana describes Fugu as "a Multi-Agent System, Delivered as One Model" that routes tasks across a pool of other models, so raw benchmark comparisons to monolithic models can be misleading, the cheaper sibling to Fugu Ultra v2 — lower ceiling on the hardest reasoning tasks, and a young, first-generation product from Sakana AI's orchestration approach, unproven at scale versus established frontier labs. At $2 in / $6 out per million tokens, it sits in the mid price band.
The bottom line for this matchup
Claude Haiku 5.5 and Fugu Max overlap enough that the right pick depends on your specific job. Claude Haiku 5.5 costs less per token; and each leads in its own area — Claude Haiku 5.5 for 5x the context window of haiku 4.5 (1m vs 200k tokens) and double the max output (128k vs 64k), Fugu Max for cost-efficient multi-agent orchestration — undercuts claude sonnet 5 and kimi k3 on output cost by a claimed 40-60%. Rather than crowning one, run the same hard task through both once and let the results decide.
Want both Claude Haiku 5.5 and Fugu Max without two subscriptions? LumiChats gives you these plus 40+ models under one ₹69/day pass (about $1/day) — draft with one, cross-check with the other.
See pricingFrequently asked questions
Is Claude Haiku 5.5 or Fugu Max better for coding?
Public SWE-Bench figures are not available for either model, so the honest test is your own repository — run an identical real bug through both. By design, Claude Haiku 5.5 leans toward 5x the context window of haiku 4.5 (1m vs 200k tokens) and double the max output (128k vs 64k) while Fugu Max leans toward cost-efficient multi-agent orchestration — undercuts claude sonnet 5 and kimi k3 on output cost by a claimed 40-60%, and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Claude Haiku 5.5 or Fugu Max?
Claude Haiku 5.5 is cheaper — $0.1/$0.5 per 1M tokens vs $2/$6 per 1M tokens, roughly 20× apart on input.
Which has the bigger context window?
Both advertise 1M tokens (~1,500 pages). Remember advertised ≠ usable: recall typically degrades before the ceiling.
Can I use both Claude Haiku 5.5 and Fugu Max together?
Yes — a multi-model platform like LumiChats gives you Claude Haiku 5.5, Fugu Max and 40+ others under one ₹69/day pass (about $1/day), so you can draft with one and cross-check with the other instead of buying two subscriptions.
Which is newer, Claude Haiku 5.5 or Fugu Max?
Claude Haiku 5.5 — released October 7, 2026, about 27 days after Fugu Max.
Related comparisons
Specifications and benchmarks reflect publicly reported figures as of June 2026 and may change as providers release updates. Always verify on your own workload.