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. Pick GLM 5 for agentic planning and long-horizon coding workflows or complex systems design and backend reasoning. Choose GLM 5 if you need self-hosting or data privacy; Fugu Max if you want a managed API.
Fugu Max (Sakana AI) and GLM 5 (Z.ai) are two of the models people most often weigh against each other in 2026. 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. GLM 5 is z.ai's flagship open-weight (MIT) MoE foundation model, engineered for complex systems design and long-horizon agentic coding. They diverge most on price, context window and open vs. closed weights — each quantified below from the models' real specs.
Key differences
Price: GLM 5 is about 2× cheaper on input ($1/$3.2 per 1M tokens vs $2/$6 per 1M tokens) — meaningful once you are processing millions of tokens a month.
Context window: Fugu Max holds 5× more — 1M tokens (~1,500 pages) vs 200K (~300 pages). But effective recall usually fades long before the advertised ceiling, so the bigger number only helps if the model reasons over it.
Recency: Fugu Max is the newer model by about 7 months (released September 10, 2026), usually meaning fresher training data and capabilities.
Specifications
Spec
Fugu Max
GLM 5
Provider
Sakana AI (Global)
Z.ai (China)
Released
September 10, 2026
February 12, 2026
Context window
1M tokens (~1,500 pages)
200K (~300 pages)
Price (in/out)
$2/$6 per 1M tokens
$1/$3.2 per 1M tokens
Open weight?
No — API only
Yes — self-hostable
Modalities
text
text, code
SWE-Bench Verified
Not published
77.8%
MRCR v2 @ 1M
Not published
Not published
Who wins what
Cost-efficient multi-agent orchestration — undercuts Claude Sonnet 5 and Kimi K3 on output cost by a claimed 40-60%: Fugu Max — 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 — and it carries the larger 1M tokens context.
1M-token context window at $2/$6 per million tokens: Fugu Max — Its 1M tokens window holds about 5× more than GLM 5's 200K in a single prompt.
OpenAI-compatible API — drop-in replacement for single-model integrations: Fugu Max — 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 — and it is the newer of the two.
Agentic planning and long-horizon coding workflows: GLM 5 — Z.ai's flagship open-weight (MIT) MoE foundation model, engineered for complex systems design and long-horizon agentic coding — and it runs cheaper at $1/$3.2 per 1M tokens.
Complex systems design and backend reasoning: GLM 5 — Fugu Max is comparatively weak here — the cheaper sibling to Fugu Ultra v2 — lower ceiling on the hardest reasoning tasks
Iterative self-correction on autonomous tasks: GLM 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
Lowest cost at scale: GLM 5 — At $1/$3.2 per 1M tokens, it is the cheaper of the two — the gap dominates the bill on high-volume workloads.
Largest single-prompt input: Fugu Max — Its 1M tokens window is about 5× larger than GLM 5's 200K, fitting roughly 1,500 pages in one prompt.
Which should you pick?
A cost-sensitive startup shipping high volume: GLM 5 — At $1/$3.2 per 1M tokens it undercuts Fugu Max, and on millions of tokens that margin decides the monthly bill.
Someone analysing very long documents or codebases: Fugu Max — Larger 1M tokens window fits more in one prompt.
A team with data-privacy or self-hosting needs: GLM 5 — Open weights let you run it on your own hardware; Fugu Max is API-only.
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 — It is specifically built for that.
Anyone whose priority is agentic planning and long-horizon coding workflows: GLM 5 — That is its strongest area.
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 are real: 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.
GLM 5: where it fits
Z.ai's flagship open-weight (MIT) MoE foundation model, engineered for complex systems design and long-horizon agentic coding. Released February 12, 2026 by Z.ai, it is built for agentic planning and long-horizon coding workflows, complex systems design and backend reasoning, iterative self-correction on autonomous tasks, and open weights under the permissive MIT license.
Its trade-offs: 200K context trails 1M-context rivals, and quickly superseded by GLM-5.1 and GLM-5.2. At $1 in / $3.2 out per million tokens, it sits in the budget price band.
The bottom line for this matchup
The defining split here is open vs. closed. GLM 5 gives you weights you control — self-host it, fine-tune it, keep data in-house, pay only for hardware. Fugu Max gives you a managed, always-updated API with no infrastructure to run. Teams with GPUs, privacy requirements, or huge volume often favour the open model; teams that want zero ops and the latest capabilities favour the closed one. Capability is close enough that this operational question, not the benchmark, usually decides it.
Frequently asked questions
Is Fugu Max or GLM 5 better for coding?
Public SWE-Bench figures are not available for Fugu Max, so the honest test is your own repository — run an identical real bug through both. By design, Fugu Max leans toward cost-efficient multi-agent orchestration — undercuts claude sonnet 5 and kimi k3 on output cost by a claimed 40-60% while GLM 5 leans toward agentic planning and long-horizon coding workflows, and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Fugu Max or GLM 5?
GLM 5 is open-weight, so self-hosting means no per-token fee (you pay for hardware instead), while Fugu Max is API-metered at $2/$6 per 1M tokens. For most teams without GPUs, the API model is cheaper to start; at very high volume, self-hosting can win.
Which has the bigger context window?
Fugu Max — 1M tokens vs 200K, about 5× larger. Useful only if the model actually reasons over the full window, which not all do.
Can I use both Fugu Max and GLM 5 together?
Yes — a multi-model platform like LumiChats gives you Fugu Max, GLM 5 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, Fugu Max or GLM 5?
Fugu Max — released September 10, 2026, about 7 months after GLM 5.
Fugu Max vs GLM 5
Sakana AI · Global | Z.ai · China · Updated June 2026
Quick verdict
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. Pick GLM 5 for agentic planning and long-horizon coding workflows or complex systems design and backend reasoning. Choose GLM 5 if you need self-hosting or data privacy; Fugu Max if you want a managed API.
Fugu Max (Sakana AI) and GLM 5 (Z.ai) are two of the models people most often weigh against each other in 2026. 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. GLM 5 is z.ai's flagship open-weight (MIT) MoE foundation model, engineered for complex systems design and long-horizon agentic coding. They diverge most on price, context window and open vs. closed weights — each quantified below from the models' real specs.
Key differences at a glance
▸Price: GLM 5 is about 2× cheaper on input ($1/$3.2 per 1M tokens vs $2/$6 per 1M tokens) — meaningful once you are processing millions of tokens a month.
▸Context window: Fugu Max holds 5× more — 1M tokens (~1,500 pages) vs 200K (~300 pages). But effective recall usually fades long before the advertised ceiling, so the bigger number only helps if the model reasons over it.
▸Recency: Fugu Max is the newer model by about 7 months (released September 10, 2026), usually meaning fresher training data and capabilities.
Side-by-side specs
Spec
Fugu Max
GLM 5
Provider
Sakana AI (Global)
Z.ai (China)
Released
September 10, 2026
February 12, 2026
Context window
1M tokens (~1,500 pages)
200K (~300 pages)
Price (in/out)
$2/$6 per 1M tokens
$1/$3.2 per 1M tokens
Open weight?
No — API only
Yes — self-hostable
Modalities
text
text, code
SWE-Bench Verified
Not published
77.8%
MRCR v2 @ 1M
Not published
Not published
Who wins what
Cost-efficient multi-agent orchestration — undercuts Claude Sonnet 5 and Kimi K3 on output cost by a claimed 40-60%
Fugu Max
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 — and it carries the larger 1M tokens context.
1M-token context window at $2/$6 per million tokens
Fugu Max
Its 1M tokens window holds about 5× more than GLM 5's 200K in a single prompt.
OpenAI-compatible API — drop-in replacement for single-model integrations
Fugu Max
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 — and it is the newer of the two.
Agentic planning and long-horizon coding workflows
GLM 5
Z.ai's flagship open-weight (MIT) MoE foundation model, engineered for complex systems design and long-horizon agentic coding — and it runs cheaper at $1/$3.2 per 1M tokens.
Complex systems design and backend reasoning
GLM 5
Fugu Max is comparatively weak here — the cheaper sibling to Fugu Ultra v2 — lower ceiling on the hardest reasoning tasks
Iterative self-correction on autonomous tasks
GLM 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
Lowest cost at scale
GLM 5
At $1/$3.2 per 1M tokens, it is the cheaper of the two — the gap dominates the bill on high-volume workloads.
Largest single-prompt input
Fugu Max
Its 1M tokens window is about 5× larger than GLM 5's 200K, fitting roughly 1,500 pages in one prompt.
Which should you pick?
A cost-sensitive startup shipping high volume
→ GLM 5
At $1/$3.2 per 1M tokens it undercuts Fugu Max, and on millions of tokens that margin decides the monthly bill.
Someone analysing very long documents or codebases
→ Fugu Max
Larger 1M tokens window fits more in one prompt.
A team with data-privacy or self-hosting needs
→ GLM 5
Open weights let you run it on your own hardware; Fugu Max is API-only.
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
It is specifically built for that.
Anyone whose priority is agentic planning and long-horizon coding workflows
→ GLM 5
That is its strongest area.
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 are real: 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.
GLM 5: where it fits
Z.ai's flagship open-weight (MIT) MoE foundation model, engineered for complex systems design and long-horizon agentic coding. Released February 12, 2026 by Z.ai, it is built for agentic planning and long-horizon coding workflows, complex systems design and backend reasoning, iterative self-correction on autonomous tasks, and open weights under the permissive MIT license.
Its trade-offs: 200K context trails 1M-context rivals, and quickly superseded by GLM-5.1 and GLM-5.2. At $1 in / $3.2 out per million tokens, it sits in the budget price band.
The bottom line for this matchup
The defining split here is open vs. closed. GLM 5 gives you weights you control — self-host it, fine-tune it, keep data in-house, pay only for hardware. Fugu Max gives you a managed, always-updated API with no infrastructure to run. Teams with GPUs, privacy requirements, or huge volume often favour the open model; teams that want zero ops and the latest capabilities favour the closed one. Capability is close enough that this operational question, not the benchmark, usually decides it.
Want both Fugu Max and GLM 5 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.
Public SWE-Bench figures are not available for Fugu Max, so the honest test is your own repository — run an identical real bug through both. By design, Fugu Max leans toward cost-efficient multi-agent orchestration — undercuts claude sonnet 5 and kimi k3 on output cost by a claimed 40-60% while GLM 5 leans toward agentic planning and long-horizon coding workflows, and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Fugu Max or GLM 5?
GLM 5 is open-weight, so self-hosting means no per-token fee (you pay for hardware instead), while Fugu Max is API-metered at $2/$6 per 1M tokens. For most teams without GPUs, the API model is cheaper to start; at very high volume, self-hosting can win.
Which has the bigger context window?
Fugu Max — 1M tokens vs 200K, about 5× larger. Useful only if the model actually reasons over the full window, which not all do.
Can I use both Fugu Max and GLM 5 together?
Yes — a multi-model platform like LumiChats gives you Fugu Max, GLM 5 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, Fugu Max or GLM 5?
Fugu Max — released September 10, 2026, about 7 months after GLM 5.
Specifications and benchmarks reflect publicly reported figures as of June 2026 and may change as providers release updates. Always verify on your own workload.