Claude Haiku 5.5 vs Step 5 Preview
Anthropic · US | StepFun · China · 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 Step 5 Preview for sparse moe architecture — 600b total parameters, only 27b active per token — built for long-horizon agentic work across large codebases and documents or 1m-token context window (64k max output) at $1/$2.70 per million tokens, among the cheapest frontier-scale context windows available. On a tight budget at scale, Claude Haiku 5.5 is the value pick.
Claude Haiku 5.5 (Anthropic, US) and Step 5 Preview (StepFun, China) line up two different AI ecosystems against each other — a comparison that is as much about cost philosophy and openness as raw capability. 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. Step 5 Preview is stepFun's September 20, 2026 flagship preview — a 600B-parameter sparse MoE model (27B active) with a 1M-token context window at $1/$2.70 per million tokens, open weights promised for mid-October. 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 10× cheaper on input ($0.1/$0.5 per 1M tokens vs $1/$2.7 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 17 days (released October 7, 2026), usually meaning fresher training data and capabilities.
- ▸Ecosystem: this is a US-vs-China matchup — they differ in pricing philosophy, data-residency options, and tooling ecosystems, not only benchmarks.
Side-by-side specs
| Spec | Claude Haiku 5.5 | Step 5 Preview |
|---|---|---|
| Provider | Anthropic (US) | StepFun (China) |
| Released | October 7, 2026 | September 20, 2026 |
| Context window | 1M tokens (~1,500 pages) | 1M tokens (~1,500 pages) |
| Price (in/out) | $0.1/$0.5 per 1M tokens | $1/$2.7 per 1M tokens |
| Open weight? | No — API only | No — API only |
| Modalities | text, image, code | text, image, code |
| 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 Step 5 Preview ($1/$2.7 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
Step 5 Preview is comparatively weak here — trails closed frontier models on coding — 67.7% on DeepSWE v1.1 vs GPT-6 Astra's 74.1% and Claude Opus 5's 74.0%
Sparse MoE architecture — 600B total parameters, only 27B active per token — built for long-horizon agentic work across large codebases and documents
Step 5 Preview
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)
1M-token context window (64K max output) at $1/$2.70 per million tokens, among the cheapest frontier-scale context windows available
Step 5 Preview
Step 5 Preview lists 1M-token context window (64K max output) at $1/$2.70 per million tokens, among the cheapest frontier-scale context windows available among its strengths; Claude Haiku 5.5 does not.
67.7% on DeepSWE v1.1, ahead of open-weight rivals Kimi K3 (67.5%) and GLM-5.3 (66.9%)
Step 5 Preview
Step 5 Preview lists 67.7% on DeepSWE v1.1, ahead of open-weight rivals Kimi K3 (67.5%) and GLM-5.3 (66.9%) 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 Step 5 Preview, 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 sparse moe architecture — 600b total parameters, only 27b active per token — built for long-horizon agentic work across large codebases and documents
→ Step 5 Preview
That is its strongest area.
An enterprise with regional data-residency rules
→ Claude Haiku 5.5 or Step 5 Preview
Origin (US vs China) affects where data is processed and which compliance regime applies — check the provider's terms for your region.
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.
Step 5 Preview: where it fits
StepFun's September 20, 2026 flagship preview — a 600B-parameter sparse MoE model (27B active) with a 1M-token context window at $1/$2.70 per million tokens, open weights promised for mid-October. Released September 20, 2026 by StepFun, it is built for sparse MoE architecture — 600B total parameters, only 27B active per token — built for long-horizon agentic work across large codebases and documents, 1M-token context window (64K max output) at $1/$2.70 per million tokens, among the cheapest frontier-scale context windows available, 67.7% on DeepSWE v1.1, ahead of open-weight rivals Kimi K3 (67.5%) and GLM-5.3 (66.9%), and scores 44 on the Artificial Analysis Intelligence Index, ranking 27th of 653 models tracked.
Its trade-offs: trails closed frontier models on coding — 67.7% on DeepSWE v1.1 vs GPT-6 Astra's 74.1% and Claude Opus 5's 74.0%, open weights were promised for October 15, 2026 but hadn't shipped as of this writing — API-only for now despite the open-weight roadmap, a 'Preview' release, not StepFun's finished flagship — positioning and pricing may change once weights ship, and stepCodeBench and DeepSWE figures are StepFun's own reported numbers, not yet independently reproduced at scale. At $1 in / $2.7 out per million tokens, it sits in the budget price band.
The bottom line for this matchup
This is less "which is smarter" and more "which ecosystem fits." Claude Haiku 5.5 (US) and Step 5 Preview (China) differ on pricing philosophy, data-residency, and tooling as much as on raw scores. Claude Haiku 5.5 is the cheaper option, which matters at volume. The pragmatic move is to run one real task through both and judge the outputs against your own constraints — including where your data is allowed to be processed.
Want both Claude Haiku 5.5 and Step 5 Preview 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 Step 5 Preview 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 Step 5 Preview leans toward sparse moe architecture — 600b total parameters, only 27b active per token — built for long-horizon agentic work across large codebases and documents, and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Claude Haiku 5.5 or Step 5 Preview?
Claude Haiku 5.5 is cheaper — $0.1/$0.5 per 1M tokens vs $1/$2.7 per 1M tokens, roughly 10× 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 Step 5 Preview together?
Yes — a multi-model platform like LumiChats gives you Claude Haiku 5.5, Step 5 Preview 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 Step 5 Preview?
Claude Haiku 5.5 — released October 7, 2026, about 17 days after Step 5 Preview.
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.