Moonshot AI vs 
StepFun
Verdict
- Moonshot AI's flagship leads: Kimi K3.1 Pro at 66.9 vs Step 5 Preview at 60.5.
- StepFun's fastest ranked model (Step 5 Preview, 229 tok/s) beats Moonshot AI's (Kimi K2 Thinking, 121 tok/s).
- Moonshot AI publishes more open-weights models (9 vs 5).
- Moonshot AI ships more often: one model every 56 days against every 59.
Best model per price band
Each provider’s highest-index model below the price ceiling. Purple marks the winner of the band.
| Price band | Moonshot AI | StepFun |
|---|---|---|
| Under $0.50/M | – | Step 3.5 Flash 53.7$0.150/M |
| Under $2/M | Kimi K2.6 thinking 59.4$1.71/M | Step 5 Preview 60.5$1.43/M |
| Under $10/M | Kimi K3.1 Pro 66.9$4.00/M | Step 5 Preview 60.5$1.43/M |
| Any price | Kimi K3.1 Pro 66.9$4.00/M | Step 5 Preview 60.5$1.43/M |
Line-up
| Metric | Moonshot AI | StepFun |
|---|---|---|
| Flagship index | 66.9 | 60.5 |
| Ranked models | 9 | 7 |
| Open-weights models | 9 | 5 |
| Cheapest ranked, $/M | $1.00 | $0.150 |
| Fastest ranked, tok/s | 121 | 229 |
| Release cadence, days | 56 | 59 |
| Last release | 23 Oct 2026 | 18 Sept 2026 |
| Next expected | 25 Nov 2026 – 9 Jan 2027 | 23 Oct 2026 – 9 Dec 2026 |
Data as of 25 Oct 2026. See Moonshot AI and StepFun in full.