Grok 4.5 vs Step 5 Preview
xAI · US | StepFun · China · Updated June 2026
Quick verdict
Pick Grok 4.5 for cheap, token-efficient agentic coding — about gpt-5.5-codex quality at roughly half the cost or extreme token efficiency — around 4x fewer output tokens per task than opus 4.8. 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, Step 5 Preview is the value pick.
Grok 4.5 (xAI, 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. Grok 4.5 is xAI's first coding-focused model — pitched as Opus-class but faster, more token-efficient, and cheaper, undercutting GPT-5.5-Codex. 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. They diverge most on price and context window — each quantified below from the models' real specs.
Key differences at a glance
- ▸Price: Step 5 Preview is about 2× cheaper on input ($1/$2.7 per 1M tokens vs $2/$6 per 1M tokens) — meaningful once you are processing millions of tokens a month.
- ▸Context window: Step 5 Preview holds 2× more — 1M tokens (~1,500 pages) vs 500K (~750 pages). But effective recall usually fades long before the advertised ceiling, so the bigger number only helps if the model reasons over it.
- ▸Recency: Step 5 Preview is the newer model by about 2 months (released September 20, 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 | Grok 4.5 | Step 5 Preview |
|---|---|---|
| Provider | xAI (US) | StepFun (China) |
| Released | July 8, 2026 | September 20, 2026 |
| Context window | 500K (~750 pages) | 1M tokens (~1,500 pages) |
| Price (in/out) | $2/$6 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
Cheap, token-efficient agentic coding — about GPT-5.5-Codex quality at roughly half the cost
Grok 4.5
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%
Extreme token efficiency — around 4x fewer output tokens per task than Opus 4.8
Grok 4.5
Grok 4.5 lists extreme token efficiency — around 4x fewer output tokens per task than Opus 4.8 among its strengths; Step 5 Preview does not.
In-IDE coding, trained on real Cursor developer sessions and shipped natively in Cursor
Grok 4.5
Grok 4.5 lists in-IDE coding, trained on real Cursor developer sessions and shipped natively in Cursor among its strengths; Step 5 Preview does not.
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
Its 1M tokens window holds about 2× more than Grok 4.5's 500K in a single prompt.
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
At $1/$2.7 per 1M tokens it undercuts Grok 4.5 ($2/$6 per 1M tokens), and that gap compounds at volume.
67.7% on DeepSWE v1.1, ahead of open-weight rivals Kimi K3 (67.5%) and GLM-5.3 (66.9%)
Step 5 Preview
Grok 4.5 is comparatively weak here — eU launch delayed; no open weights
Lowest cost at scale
Step 5 Preview
At $1/$2.7 per 1M tokens, it is the cheaper of the two — the gap dominates the bill on high-volume workloads.
Largest single-prompt input
Step 5 Preview
Its 1M tokens window is about 2× larger than Grok 4.5's 500K, fitting roughly 1,500 pages in one prompt.
Which should you pick?
A cost-sensitive startup shipping high volume
→ Step 5 Preview
At $1/$2.7 per 1M tokens it undercuts Grok 4.5, and on millions of tokens that margin decides the monthly bill.
Someone analysing very long documents or codebases
→ Step 5 Preview
Larger 1M tokens window fits more in one prompt.
Anyone whose priority is cheap, token-efficient agentic coding — about gpt-5.5-codex quality at roughly half the cost
→ Grok 4.5
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
→ Grok 4.5 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.
Grok 4.5: where it fits
XAI's first coding-focused model — pitched as Opus-class but faster, more token-efficient, and cheaper, undercutting GPT-5.5-Codex. Released July 8, 2026 by xAI, it is built for cheap, token-efficient agentic coding — about GPT-5.5-Codex quality at roughly half the cost, extreme token efficiency — around 4x fewer output tokens per task than Opus 4.8, in-IDE coding, trained on real Cursor developer sessions and shipped natively in Cursor, and top-tier placement on the Artificial Analysis Intelligence Index.
Its trade-offs are real: smaller 500K context (halved from the 1M generation), with pricing that doubles above 200K tokens, and eU launch delayed; no open weights. At $2 in / $6 out per million tokens, it sits in the mid 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." Grok 4.5 (US) and Step 5 Preview (China) differ on pricing philosophy, data-residency, and tooling as much as on raw scores. Step 5 Preview 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 Grok 4.5 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 Grok 4.5 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, Grok 4.5 leans toward cheap, token-efficient agentic coding — about gpt-5.5-codex quality at roughly half the cost 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, Grok 4.5 or Step 5 Preview?
Step 5 Preview is cheaper — $2/$6 per 1M tokens vs $1/$2.7 per 1M tokens, roughly 2× apart on input.
Which has the bigger context window?
Step 5 Preview — 1M tokens vs 500K, about 2× larger. Useful only if the model actually reasons over the full window, which not all do.
Can I use both Grok 4.5 and Step 5 Preview together?
Yes — a multi-model platform like LumiChats gives you Grok 4.5, 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, Grok 4.5 or Step 5 Preview?
Step 5 Preview — released September 20, 2026, about 2 months after Grok 4.5.
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.