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    Product Update

    Kimi Pay-As-You-Go API Keys Now Work in Excel, No Waitlist

    August 28, 2026 · 4 min read

    Until today, running Kimi's k3 model in EBITDAI meant one thing: a Kimi Code subscription, which is a great deal at $19/month flat but puts new signups through a waitlist. As of today there is a second door. EBITDAI now accepts pay-as-you-go Kimi API keys from the Moonshot Open Platform, same k3 model, metered billing, and a key that works the minute you create it.

    Two keys, one model

    Kimi sells two separate API products, and their keys are not interchangeable. The Kimi Code subscription ($19/month flat, keys start with sk-kimi-) is still the best value for daily modeling: no per-token charges, no meter anxiety, roughly 300-1,200 calls per 5-hour window. If you build models every day, get on that waitlist, it typically clears in days to two weeks, and our waitlist guide walks through it.

    The new option, Kimi (pay-as-you-go), uses a metered key from platform.moonshot.ai (keys start with sk-): $3 per million input tokens, $0.30 for cached input, $15 per million output. No subscription, no waitlist, no approval step. In the add-in they appear as two separate providers on the Connect screen, so pick the one that matches where your key came from.

    What it costs in practice

    In our published benchmark, a complete model build on k3 used about 7,800 input and 5,700 output tokens, roughly $0.11 of API cost per task at metered rates. A $5 top-up covers dozens of full builds and months of lighter use.

    It also undercuts Claude. k3 lists at $3/$15 per million tokens, while Anthropic's flagship Opus-tier models list at $5/$25 (Claude Opus 5) and $10/$50 (Claude Fable 5), 40-70% more per token. And that is before the access question: Claude's own Excel add-in wants a $20+/month plan on top of per-seat limits, where a pay-as-you-go Kimi key has no monthly minimum at all.

    Which should you pick?

    Simple rule: daily modeler → Kimi Code subscription (flat $19/month beats the meter after roughly 170 builds a month); starting today or occasional use → pay-as-you-go. And it is not either/or: EBITDAI switches models mid-conversation, so plenty of users will start on a metered key today and add the subscription key when their waitlist spot clears.

    Don't want to manage keys at all? EBITDAI's own Pro plan is $15/month with 7.5x more usage than Lite across every included model, and zero setup. Layer your own Kimi Code subscription on top ($34/month all-in) and its unlimited flat-rate usage takes over with the plan's included usage as overflow: the most cost-effective way to run EBITDAI all day.

    Setup: four steps

    1. 1Create a Moonshot Open Platform accountGo to platform.moonshot.ai and sign up. No subscription and no waitlist: the account works as soon as you create it.
    2. 2Top up a small balanceOpen Billing and add a few dollars. Keys do not work on a zero balance. At roughly eleven cents per full model build, a $5 top-up covers a lot of modeling.
    3. 3Create an API key named EBITDAIOpen platform.moonshot.ai/console/api-keys, click Create API Key, and name it EBITDAI. Copy it immediately; it is shown once and starts with sk- (not sk-kimi-).
    4. 4Connect it in ExcelIn the EBITDAI pane, choose Kimi (pay-as-you-go) on the Connect screen, not Kimi Code, and paste the key. One test call verifies it, and the key stays on your device.

    Exact buttons and screenshots are in the tutorial.

    Frequently asked questions

    What is the difference between a Kimi Code key and a Kimi pay-as-you-go key?

    Same k3 model, two billing models. Kimi Code is a flat subscription from $19/month with no per-token charges, and its keys start with sk-kimi-. Pay-as-you-go keys come from the Moonshot Open Platform, start with sk-, and bill $3 per million input tokens ($0.30 cached) and $15 per million output. In EBITDAI they are two separate providers on the Connect screen, and the keys are not interchangeable.

    Which one should I use?

    If you model daily, the Kimi Code subscription is much cheaper: $19/month flat versus metered billing that would pass $19 after roughly 170 model builds. If you want to start right now, or you use AI in Excel occasionally, pay-as-you-go wins: no waitlist, working in minutes, and you only pay for what you run.

    How does pay-as-you-go Kimi compare with Claude on price?

    k3 lists at $3 per million input tokens and $15 per million output. Anthropic's flagship Opus-tier models list at $5/$25 (Claude Opus 5) and $10/$50 (Claude Fable 5), 40 to 70 percent more per token for the tier Anthropic positions against k3. In our published benchmark, a complete model build on k3 came to about $0.11 of API cost.

    Can I connect both Kimi keys?

    Yes. EBITDAI treats them as separate providers, and you can switch models mid-conversation. A common path: start on pay-as-you-go today, join the Kimi Code waitlist, and add the subscription key when it clears.

    Run k3 in your workbook today

    EBITDAI is from $5/month with a free plan (150 requests a week on Meta Muse Spark 1.3, where Meta trains on everything you send), or pick the $15 Pro plan and run k3 with zero setup. Bring a pay-as-you-go key now, add the subscription when your spot clears.

    See how it works