diff --git a/packages/ai/CHANGELOG.md b/packages/ai/CHANGELOG.md
index a50df961..8e516d79 100644
--- a/packages/ai/CHANGELOG.md
+++ b/packages/ai/CHANGELOG.md
@@ -2,6 +2,10 @@
 
 ## [Unreleased]
 
+### Fixed
+
+- Fixed Kimi Coding subscription models to report API-equivalent implied costs when models.dev reports zero pricing.
+
 ## [0.80.10] - 2026-07-16
 
 ### Fixed
diff --git a/packages/ai/scripts/generate-models.ts b/packages/ai/scripts/generate-models.ts
index 16af169e..8d30e9ce 100644
--- a/packages/ai/scripts/generate-models.ts
+++ b/packages/ai/scripts/generate-models.ts
@@ -241,6 +241,15 @@ const KIMI_K3_COST = {
 	cacheRead: 0.3,
 	cacheWrite: 0,
 } as const;
+// Kimi Coding is subscription-backed, so models.dev reports zero cost. Use the
+// equivalent Moonshot API rates to estimate the value of subscription usage.
+const KIMI_CODING_IMPLIED_COSTS: Record<string, Model<Api>["cost"]> = {
+	k2p7: { input: 0.95, output: 4, cacheRead: 0.19, cacheWrite: 0 },
+	k3: KIMI_K3_COST,
+	"kimi-for-coding": { input: 0.95, output: 4, cacheRead: 0.19, cacheWrite: 0 },
+	"kimi-for-coding-highspeed": { input: 1.9, output: 8, cacheRead: 0.38, cacheWrite: 0 },
+	"kimi-k2-thinking": { input: 0.6, output: 2.5, cacheRead: 0.15, cacheWrite: 0 },
+};
 const OPENROUTER_KIMI_K3_MODEL_IDS = new Set(["moonshotai/kimi-k3", "~moonshotai/kimi-latest"]);
 
 const ANT_LING_RING_THINKING_LEVEL_MAP = {
@@ -1642,6 +1651,7 @@ async function loadModelsDevData(): Promise<Model<any>[]> {
 				const normalizedName = kimiAliases.has(modelId) ? "Kimi For Coding" : m.name || normalizedId;
 				const isKimiK3 = normalizedId === "k3";
 				const allowEmptySignature = isKimiK3 || normalizedId === "kimi-for-coding";
+				const impliedCost = KIMI_CODING_IMPLIED_COSTS[normalizedId];
 
 				models.push({
 					id: normalizedId,
@@ -1659,10 +1669,10 @@ async function loadModelsDevData(): Promise<Model<any>[]> {
 					...(isKimiK3 ? { thinkingLevelMap: KIMI_K3_THINKING_LEVEL_MAP } : {}),
 					input: m.modalities?.input?.includes("image") ? ["text", "image"] : ["text"],
 					cost: {
-						input: m.cost?.input || 0,
-						output: m.cost?.output || 0,
-						cacheRead: m.cost?.cache_read || 0,
-						cacheWrite: m.cost?.cache_write || 0,
+						input: m.cost?.input || impliedCost?.input || 0,
+						output: m.cost?.output || impliedCost?.output || 0,
+						cacheRead: m.cost?.cache_read || impliedCost?.cacheRead || 0,
+						cacheWrite: m.cost?.cache_write || impliedCost?.cacheWrite || 0,
 					},
 					contextWindow: m.limit?.context || 4096,
 					maxTokens: m.limit?.output || 4096,
diff --git a/packages/ai/src/providers/kimi-coding.models.ts b/packages/ai/src/providers/kimi-coding.models.ts
index 7bdf8e86..584f6f35 100644
--- a/packages/ai/src/providers/kimi-coding.models.ts
+++ b/packages/ai/src/providers/kimi-coding.models.ts
@@ -15,9 +15,9 @@ export const KIMI_CODING_MODELS = {
 		reasoning: true,
 		input: ["text", "image"],
 		cost: {
-			input: 0,
-			output: 0,
-			cacheRead: 0,
+			input: 0.95,
+			output: 4,
+			cacheRead: 0.19,
 			cacheWrite: 0,
 		},
 		contextWindow: 262144,
@@ -35,9 +35,9 @@ export const KIMI_CODING_MODELS = {
 		thinkingLevelMap: {"off":null,"minimal":null,"low":null,"medium":null,"high":null,"xhigh":null,"max":"max"},
 		input: ["text", "image"],
 		cost: {
-			input: 0,
-			output: 0,
-			cacheRead: 0,
+			input: 3,
+			output: 15,
+			cacheRead: 0.3,
 			cacheWrite: 0,
 		},
 		contextWindow: 1048576,
@@ -54,9 +54,9 @@ export const KIMI_CODING_MODELS = {
 		reasoning: true,
 		input: ["text", "image"],
 		cost: {
-			input: 0,
-			output: 0,
-			cacheRead: 0,
+			input: 0.95,
+			output: 4,
+			cacheRead: 0.19,
 			cacheWrite: 0,
 		},
 		contextWindow: 262144,
@@ -73,9 +73,9 @@ export const KIMI_CODING_MODELS = {
 		reasoning: true,
 		input: ["text", "image"],
 		cost: {
-			input: 0,
-			output: 0,
-			cacheRead: 0,
+			input: 1.9,
+			output: 8,
+			cacheRead: 0.38,
 			cacheWrite: 0,
 		},
 		contextWindow: 262144,
@@ -92,9 +92,9 @@ export const KIMI_CODING_MODELS = {
 		reasoning: true,
 		input: ["text"],
 		cost: {
-			input: 0,
-			output: 0,
-			cacheRead: 0,
+			input: 0.6,
+			output: 2.5,
+			cacheRead: 0.15,
 			cacheWrite: 0,
 		},
 		contextWindow: 262144,
diff --git a/packages/ai/test/providers.test.ts b/packages/ai/test/providers.test.ts
index a8bc68e4..ff664446 100644
--- a/packages/ai/test/providers.test.ts
+++ b/packages/ai/test/providers.test.ts
@@ -56,6 +56,21 @@ describe("builtin providers", () => {
 		}
 	});
 
+	it("uses API-equivalent implied pricing for Kimi Coding subscription models", () => {
+		const models = builtinModels();
+		const expectedCosts = {
+			k2p7: { input: 0.95, output: 4, cacheRead: 0.19, cacheWrite: 0 },
+			k3: { input: 3, output: 15, cacheRead: 0.3, cacheWrite: 0 },
+			"kimi-for-coding": { input: 0.95, output: 4, cacheRead: 0.19, cacheWrite: 0 },
+			"kimi-for-coding-highspeed": { input: 1.9, output: 8, cacheRead: 0.38, cacheWrite: 0 },
+			"kimi-k2-thinking": { input: 0.6, output: 2.5, cacheRead: 0.15, cacheWrite: 0 },
+		};
+
+		for (const [modelId, cost] of Object.entries(expectedCosts)) {
+			expect(models.getModel("kimi-coding", modelId)?.cost).toEqual(cost);
+		}
+	});
+
 	it("resolves anthropic auth from env with OAuth token precedence", async () => {
 		const models = createModels({
 			authContext: fakeAuthContext({ ANTHROPIC_API_KEY: "key", ANTHROPIC_OAUTH_TOKEN: "oauth-token" }),
diff --git a/packages/coding-agent/CHANGELOG.md b/packages/coding-agent/CHANGELOG.md
index 3eefbc25..7bc933f4 100644
--- a/packages/coding-agent/CHANGELOG.md
+++ b/packages/coding-agent/CHANGELOG.md
@@ -5,6 +5,7 @@
 ### Fixed
 
 - Fixed obsolete custom UI, custom tool, and custom editor examples in the extension documentation ([#6735](https://github.com/earendil-works/pi/issues/6735)).
+- Fixed Kimi Coding sessions to show API-equivalent implied costs with the subscription indicator.
 
 ## [0.80.10] - 2026-07-16
 
diff --git a/packages/coding-agent/src/modes/interactive/components/footer.ts b/packages/coding-agent/src/modes/interactive/components/footer.ts
index a781f893..fa947480 100644
--- a/packages/coding-agent/src/modes/interactive/components/footer.ts
+++ b/packages/coding-agent/src/modes/interactive/components/footer.ts
@@ -137,8 +137,10 @@ export class FooterComponent implements Component {
 		if ((totalCacheRead > 0 || totalCacheWrite > 0) && latestCacheHitRate !== undefined) {
 			statsParts.push(`CH${latestCacheHitRate.toFixed(1)}%`);
 		}
-		// Show cost with "(sub)" indicator if using OAuth subscription
-		const usingSubscription = state.model ? this.session.modelRuntime.isUsingOAuth(state.model.provider) : false;
+		// Kimi Coding is subscription-backed despite using API-key authentication.
+		const usingSubscription = state.model
+			? state.model.provider === "kimi-coding" || this.session.modelRuntime.isUsingOAuth(state.model.provider)
+			: false;
 		if (totalCost || usingSubscription) {
 			const costStr = `$${totalCost.toFixed(3)}${usingSubscription ? " (sub)" : ""}`;
 			statsParts.push(costStr);
diff --git a/packages/coding-agent/test/footer-width.test.ts b/packages/coding-agent/test/footer-width.test.ts
index c3d707a9..85956d53 100644
--- a/packages/coding-agent/test/footer-width.test.ts
+++ b/packages/coding-agent/test/footer-width.test.ts
@@ -141,4 +141,21 @@ describe("FooterComponent width handling", () => {
 		const statsLine = stripAnsi(footer.render(120)[1]);
 		expect(statsLine).toContain("CH25.0%");
 	});
+
+	it("marks Kimi Coding costs as subscription estimates", () => {
+		const session = createSession({
+			sessionName: "",
+			provider: "kimi-coding",
+			usage: {
+				input: 100,
+				output: 10,
+				cacheRead: 0,
+				cacheWrite: 0,
+				cost: { total: 1.234 },
+			},
+		});
+		const footer = new FooterComponent(session, createFooterData(1));
+
+		expect(stripAnsi(footer.render(120)[1])).toContain("$1.234 (sub)");
+	});
 });