I’m not familiar with the Claude Code subscription, but with Codex I’m able to use millions of tokens per day on the $200/mo plan. My rough estimate was that if I were API billing, it would cost about $50/day, or $1200/mo. So either the API has a 6x profit margin on inference, the subscription is a loss leader, or they just rely on most people not to go anywhere near the usage caps.

I use GLM lite subscription for personal use. It is advertised as 3x claude code pro (the 20$ one).

5h allowance is somewhere between 50M-100M tokens from what I can tell.

On 200$ claude code plan you should be burning hundreds of millions of token per day to make anthropic hurt.

IMHO subscription plans are totally banking on many users underusing them. Also LLM providers dont like to say exact numbers (how much you get , etc)