On the headline score, OpenAI's GPT-6 Luna (Max) and StepFun's Step 5 Preview are almost level. The sharpest difference is price: GPT-6 Luna Max costs $0.50 per million output tokens, against $2.70 for Step 5 Preview. All numbers are the catalogue's recorded values; nobody ran either model by hand for this page.
Price per token
GPT-6 Luna Max lists $0.10 per million input tokens and $0.50 per million output tokens; Step 5 Preview lists $1.00 and $2.70. For output tokens, Step 5 Preview is 5.4 times the price of GPT-6 Luna Max.
For a sample workload of 1 million input tokens and 200,000 output tokens, GPT-6 Luna Max would cost $0.20 and Step 5 Preview $1.54, a difference of $1.34. A bigger example, a chat app with 50,000 sessions of 800 input and 300 output tokens, costs $11.50 on GPT-6 Luna Max and $80.50 on Step 5 Preview: a gap of $69.00.
When they came out
GPT-6 Luna Max arrived on September 22, 2026, 4 days after Step 5 Preview (September 18, 2026). They are effectively contemporaries.
How the intelligence index compares
Step 5 Preview comes out ahead on the intelligence index, 28.5 to 27.9. On an aggregate like this, under a point is effectively level.
Across the 109 active models with an intelligence score in the catalogue, GPT-6 Luna Max ranks 62nd and Step 5 Preview ranks 61st.
The catalogue does not yet split either model's score into coding and math indexes.
Value for money
A blunt value measure, blended price over intelligence score, puts GPT-6 Luna Max at $0.0072 and Step 5 Preview at $0.050 per point. GPT-6 Luna Max delivers each index point for 86% less; whether Step 5 Preview's extra 0.6 points are worth the premium depends on how often your tasks need them.
Step 5 Preview is the faster writer
GPT-6 Luna Max generates about 121 tokens per second and Step 5 Preview about 151 tokens per second. That makes Step 5 Preview roughly 1.3 times as fast at writing. Before any text appears, GPT-6 Luna Max takes 2.0 minutes and Step 5 Preview 0.91 seconds. Step 5 Preview gets to its first token 134 times as fast. A first-token wait of that length suits background work better than live conversation.
Add the two numbers up for a 1,000-token reply and Step 5 Preview finishes first: 2.2 minutes for GPT-6 Luna Max, 7.5 seconds for Step 5 Preview.

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