diff --git a/dashboard.py b/dashboard.py
index 067ac300..fdf962ca 100644
--- a/dashboard.py
+++ b/dashboard.py
@@ -24,6 +24,39 @@
 SURFACE = "web"
 
 
+def _session_model_breakdowns(conn):
+    """Return ``{session_id: [{model, input, output, cache_read, cache_creation}]}``
+    — each session's tokens split by the model that actually produced them.
+
+    Cost must be computed per model and summed: the ``sessions`` table stores a
+    single primary-model label (opus > sonnet > haiku), so pricing a session's
+    summed tokens by that one label overcharges every session that touched more
+    than one model — a subagent on a cheaper model, or a mid-session /model
+    switch. The client attaches this to each session as ``by_model``.
+    """
+    rows = conn.execute("""
+        SELECT session_id,
+               COALESCE(NULLIF(model, ''), 'unknown') as model,
+               SUM(input_tokens)          as input,
+               SUM(output_tokens)         as output,
+               SUM(cache_read_tokens)     as cache_read,
+               SUM(cache_creation_tokens) as cache_creation
+        FROM turns
+        GROUP BY session_id, COALESCE(NULLIF(model, ''), 'unknown')
+    """).fetchall()
+
+    out = {}
+    for r in rows:
+        out.setdefault(r["session_id"], []).append({
+            "model":          r["model"],
+            "input":          r["input"] or 0,
+            "output":         r["output"] or 0,
+            "cache_read":     r["cache_read"] or 0,
+            "cache_creation": r["cache_creation"] or 0,
+        })
+    return out
+
+
 def get_dashboard_data(db_path=DB_PATH):
     if not db_path.exists():
         return {"error": "Database not found. Run: python cli.py scan"}
@@ -113,6 +146,8 @@ def get_dashboard_data(db_path=DB_PATH):
         ORDER BY last_timestamp DESC
     """).fetchall()
 
+    session_by_model = _session_model_breakdowns(conn)
+
     sessions_all = []
     for r in session_rows:
         try:
@@ -137,6 +172,7 @@ def get_dashboard_data(db_path=DB_PATH):
             "output":        r["total_output_tokens"] or 0,
             "cache_read":    r["total_cache_read"] or 0,
             "cache_creation": r["total_cache_creation"] or 0,
+            "by_model":      session_by_model.get(r["session_id"], []),
         })
 
     # ── Subagent breakdown by type, by day & model ────────────────────────────
@@ -782,6 +818,19 @@ def get_dashboard_data(db_path=DB_PATH):
   );
 }
 
+// Total $ cost of a session, summed across the models its turns actually used
+// (s.by_model from the server). Pricing a session by its single `model` label x
+// summed tokens overcharges any multi-model session — a subagent on a cheaper
+// model, or a mid-session /model switch. Falls back to the single-model path
+// when no breakdown is present (older payloads, or non-session rows).
+function sessionCost(s) {
+  const bm = s && s.by_model;
+  if (Array.isArray(bm) && bm.length) {
+    return bm.reduce((t, m) => t + calcCost(m.model, m.input, m.output, m.cache_read, m.cache_creation), 0);
+  }
+  return calcCost(s.model, s.input, s.output, s.cache_read, s.cache_creation);
+}
+
 // ── Formatting ─────────────────────────────────────────────────────────────
 function fmt(n) {
   if (n >= 1e9) return (n/1e9).toFixed(2)+'B';
@@ -1149,8 +1198,8 @@ def get_dashboard_data(db_path=DB_PATH):
   return [...sessions].sort((a, b) => {
     let av, bv;
     if (sessionSortCol === 'cost') {
-      av = calcCost(a.model, a.input, a.output, a.cache_read, a.cache_creation);
-      bv = calcCost(b.model, b.input, b.output, b.cache_read, b.cache_creation);
+      av = sessionCost(a);
+      bv = sessionCost(b);
     } else if (sessionSortCol === 'duration_min') {
       av = parseFloat(a.duration_min) || 0;
       bv = parseFloat(b.duration_min) || 0;
@@ -1223,7 +1272,7 @@ def get_dashboard_data(db_path=DB_PATH):
     p.cache_creation += s.cache_creation;
     p.turns          += s.turns;
     p.sessions++;
-    p.cost += calcCost(s.model, s.input, s.output, s.cache_read, s.cache_creation);
+    p.cost += sessionCost(s);
   }
   const byProject = Object.values(projMap).sort((a, b) => (b.input + b.output) - (a.input + a.output));
 
@@ -1239,7 +1288,7 @@ def get_dashboard_data(db_path=DB_PATH):
     pb.cache_creation += s.cache_creation;
     pb.turns          += s.turns;
     pb.sessions++;
-    pb.cost += calcCost(s.model, s.input, s.output, s.cache_read, s.cache_creation);
+    pb.cost += sessionCost(s);
   }
   const byProjectBranch = Object.values(projBranchMap).sort((a, b) => b.cost - a.cost);
 
@@ -1653,7 +1702,7 @@ def get_dashboard_data(db_path=DB_PATH):
 function renderSessionsTable(sessions) {
   const shown = sessions.slice(0, shownCount(sessionsLimit, sessions.length));
   document.getElementById('sessions-body').innerHTML = shown.map(s => {
-    const cost = calcCost(s.model, s.input, s.output, s.cache_read, s.cache_creation);
+    const cost = sessionCost(s);
     const costCell = isBillable(s.model)
       ? `<td class="cost">${fmtCost(cost)}</td>`
       : `<td class="cost-na">n/a</td>`;
@@ -1865,7 +1914,7 @@ def get_dashboard_data(db_path=DB_PATH):
 function exportSessionsCSV() {
   const header = ['Session', 'Project', 'Title', 'Last Active', 'Duration (min)', 'Model', 'Turns', 'Input', 'Output', 'Cache Read', 'Cache Creation', 'Est. Cost'];
   const rows = lastFilteredSessions.map(s => {
-    const cost = calcCost(s.model, s.input, s.output, s.cache_read, s.cache_creation);
+    const cost = sessionCost(s);
     return [s.session_id, s.project, s.topic, s.last, s.duration_min, s.model, s.turns, s.input, s.output, s.cache_read, s.cache_creation, cost.toFixed(4)];
   });
   downloadCSV('sessions', header, rows);
diff --git a/tests/test_dashboard.py b/tests/test_dashboard.py
index 2f3b5a16..1203b5b1 100644
--- a/tests/test_dashboard.py
+++ b/tests/test_dashboard.py
@@ -494,5 +494,79 @@ def test_prices_match(self):
             )
 
 
+class TestMixedModelSessionCost(unittest.TestCase):
+    """A session's tokens must be priced by the model that produced them.
+
+    The `sessions` table stores one primary-model label (opus > sonnet > haiku),
+    so pricing summed session tokens by that label overcharges any session that
+    also ran cheaper models (subagents, or a mid-session /model switch).
+    """
+
+    def setUp(self):
+        self.tmpfile = tempfile.NamedTemporaryFile(suffix=".db", delete=False)
+        self.tmpfile.close()
+        self.db_path = Path(self.tmpfile.name)
+        conn = get_db(self.db_path)
+        init_db(conn)
+        upsert_sessions(conn, [{
+            "session_id": "sess-mixed", "project_name": "user/proj",
+            "first_timestamp": "2026-04-08T09:00:00Z",
+            "last_timestamp": "2026-04-08T10:00:00Z",
+            "git_branch": "main", "model": "claude-opus-4-1",  # primary label
+            "total_input_tokens": 300, "total_output_tokens": 3000,
+            "total_cache_read": 30000, "total_cache_creation": 3000,
+            "turn_count": 2,
+        }])
+        insert_turns(conn, [
+            {"session_id": "sess-mixed", "timestamp": "2026-04-08T09:10:00Z",
+             "model": "claude-opus-4-1", "input_tokens": 100, "output_tokens": 1000,
+             "cache_read_tokens": 10000, "cache_creation_tokens": 1000,
+             "tool_name": None, "cwd": "/tmp"},
+            {"session_id": "sess-mixed", "timestamp": "2026-04-08T09:20:00Z",
+             "model": "claude-haiku-4-5", "input_tokens": 200, "output_tokens": 2000,
+             "cache_read_tokens": 20000, "cache_creation_tokens": 2000,
+             "tool_name": None, "cwd": "/tmp"},
+        ])
+        conn.commit()
+        conn.close()
+
+    def tearDown(self):
+        os.unlink(self.db_path)
+
+    def test_session_carries_per_model_breakdown(self):
+        data = get_dashboard_data(self.db_path)
+        session = next(s for s in data["sessions_all"] if s["session_id"] == "sess-mixed")
+        by_model = {m["model"]: m for m in session["by_model"]}
+        self.assertEqual(set(by_model), {"claude-opus-4-1", "claude-haiku-4-5"},
+                         "by_model must split the session's tokens by producing model")
+        self.assertEqual(by_model["claude-haiku-4-5"]["output"], 2000)
+        self.assertEqual(by_model["claude-opus-4-1"]["cache_read"], 10000)
+        # The split must be lossless against the session rollup.
+        for field in ("input", "output", "cache_read", "cache_creation"):
+            self.assertEqual(sum(m[field] for m in session["by_model"]), session[field],
+                             f"by_model {field} must sum to the session total")
+
+    def test_per_model_pricing_is_cheaper_than_the_primary_label(self):
+        """The bug this guards: haiku turns billed at opus rates."""
+        import cli
+        data = get_dashboard_data(self.db_path)
+        session = next(s for s in data["sessions_all"] if s["session_id"] == "sess-mixed")
+        per_model = sum(cli.calc_cost(m["model"], m["input"], m["output"],
+                                      m["cache_read"], m["cache_creation"])
+                        for m in session["by_model"])
+        single_label = cli.calc_cost(session["model"], session["input"], session["output"],
+                                     session["cache_read"], session["cache_creation"])
+        self.assertLess(per_model, single_label)
+
+    def test_js_prices_sessions_per_model(self):
+        """The cost math runs in JS; keep the session sites off the single-label path."""
+        # assertTrue, not assertIn: assertIn dumps the whole template on failure.
+        fallback = "  return calcCost(s.model, s.input, s.output, s.cache_read, s.cache_creation);"
+        self.assertTrue("function sessionCost(s)" in HTML_TEMPLATE,
+                        "sessionCost missing from dashboard JS")
+        self.assertFalse("calcCost(s.model," in HTML_TEMPLATE.replace(fallback, ""),
+                         "a session is still priced by its single primary-model label")
+
+
 if __name__ == "__main__":
     unittest.main()