Fugu Ultra v2 vs Kimi K2.7 Code
Pricing, context window and real answers (November 2026)
Fugu Ultra v2 (Sakana AI) and Kimi K2.7 Code (Moonshot), compared as you can actually call them on FastMetal. Both are served from the same OpenAI-compatible endpoint and API key; switching is a change to the model string.
Specs and pricing
| Fugu Ultra v2 |  Kimi K2.7 Code | |
|---|---|---|
| Provider | Sakana AI | Moonshot |
| Input (per 1M tokens) | $5.50 | $0.3505 |
| Output (per 1M tokens) | $33.00 | $3.38 |
| Typical cost (1,000 in + 500 out tokens × 1,000 calls) | $22.00 | $2.04 |
| Context window | 1,000,000 tokens | 262,144 tokens |
| Release date | 9/11/2026 | 6/12/2026 |
| Input modalities | text, image, file | text, image |
| Throughput (p50) | 22222 tokens/s (n=25) | 113 tokens/s (n=26) |
| Arena · overall | Unranked | Unranked |
| Arena · Japanese | Unranked | Unranked |
| Arena · coding | Unranked | Unranked |
Prices are FastMetal's rates, before tax.
Rankings: LMArena leaderboard dataset (lmarena-ai/leaderboard-dataset), CC BY 4.0, snapshot 2026-10-22; category names mapped and ratings rounded by FastMetal.
Which should you pick?
- On price, Kimi K2.7 Code: $3.38 per 1M output tokens, 90% less than Fugu Ultra v2.
- For long documents, Fugu Ultra v2: a 1,000,000-token context window against 262,144 for Kimi K2.7 Code.
- If in doubt, try both on the same key. Switching is a change to the model string, and each is billed at its own rate.
Frequently asked questions
- Which is cheaper, Fugu Ultra v2 or Kimi K2.7 Code?
- Per 1M output tokens, Fugu Ultra v2 is $33.00 and Kimi K2.7 Code is $3.38 on FastMetal (US dollars, before tax), so Kimi K2.7 Code is cheaper.
- How do the context windows of Fugu Ultra v2 and Kimi K2.7 Code compare?
- Fugu Ultra v2 takes 1,000,000 tokens; Kimi K2.7 Code takes 262,144.
- Can I use Fugu Ultra v2 and Kimi K2.7 Code with the same API key?
- Yes. On FastMetal's OpenAI-compatible endpoint, switch by passing "fugu-ultra-v2" or "japan-kimi-k2.7-code" as the model. Each is billed at its own rate from the same prepaid balance.
Try both on one API key
Create an account and add credit to call Fugu Ultra v2 and Kimi K2.7 Code from the browser chat and the API. No monthly fee.