📄 中文摘要
GPT-5.4 于2026年3月17日发布，标志着“百万令牌上下文”进入生产主流。对于构建自主代理或大规模文档处理的工程师而言，选择 API 提供商成为了一个在延迟、冗余和单位经济学之间的高风险权衡。该指南对三种主要访问路径——OpenAI Direct、Azure AI Foundry 和 OpenRouter 进行了基准测试，重点关注原始性能数据和长上下文推理的隐性成本。
GPT-5.4 API 性能与经济学：OpenAI、Azure 和 OpenRouter 的基准比较
📄 English Summary
GPT-5.4 API Performance & Economics: A Benchmarked Comparison of OpenAI, Azure, and OpenRouter
The launch of GPT-5.4 on March 17, 2026, has introduced the '1-million token context' into mainstream production. For engineers developing autonomous agents or large-scale document processors, selecting an API provider has become a high-stakes trade-off involving latency, redundancy, and unit economics. This guide benchmarks three primary access paths—OpenAI Direct, Azure AI Foundry, and OpenRouter—focusing on raw performance data and the hidden costs associated with long-context inference.