Google Cloud Run functions offer a flexible and cost-effective serverless solution for running your code in the cloud. The pricing model for both first generation and second generation functions is based on different components, including compute time, memory usage, invocations, and networking. First generation functions are priced per GHz-second and GB-seconds, while second generation functions are priced per vCPU-second and GB-seconds. Google Cloud offers a generous free tier for both generations of functions, with varying limits and requirements. Understanding the pricing components and how they are calculated is crucial to optimizing costs and choosing the right function type for your workload.