DeepSeek V3.2 (Chat) vs Mistral Small 4
Complete pricing and performance comparison between DeepSeek's DeepSeek V3.2 (Chat) and Mistral's Mistral Small 4.
Quick Verdict
Cheaper
Mistral Small 4 (input) / DeepSeek V3.2 (Chat) (output)
Input: 1.9x diff, Output: 1.4x diff
Larger Context
Mistral Small 4
256K vs 128K
Pricing Comparison
| Spec | DeepSeek V3.2 (Chat) | Mistral Small 4 | Difference |
|---|---|---|---|
| Provider | DeepSeek | Mistral | |
| Input / 1M tokens | $0.28 | $0.15 | Mistral Small 4 is 46% more expensive |
| Output / 1M tokens | $0.42 | $0.6 | DeepSeek V3.2 (Chat) is 30% more expensive |
| Context Window | 128K | 256K | 2x difference |
| Max Output | 8K | 33K |
Performance Benchmarks
| Metric | DeepSeek V3.2 (Chat) | Mistral Small 4 | Winner |
|---|---|---|---|
| Quality Index | 32 | -- | N/A |
| Output Speed | 34 tok/s | -- | N/A |
| Value (Quality/$) | 114.6 | -- | Higher = better value |
Benchmark data from Artificial Analysis. Quality Index is a composite score across reasoning, coding, and knowledge tasks.
Cost at Scale
Estimated cost at different usage levels (3:1 input-to-output token ratio, typical for chat).
| Usage | DeepSeek V3.2 (Chat) | Mistral Small 4 | Savings |
|---|---|---|---|
Single request 1K in / 300 out | $0.0004 | $0.0003 | Same |
10 requests 10K in / 3K out | $0.0041 | $0.0033 | Same |
100 requests 100K in / 30K out | $0.041 | $0.033 | Mistral Small 4 saves $0.0076 |
1,000 requests 1M in / 300K out | $0.406 | $0.330 | Mistral Small 4 saves $0.076 |
10,000 requests 10M in / 3M out | $4.06 | $3.30 | Mistral Small 4 saves $0.760 |
1M requests/mo 1B in / 300M out | $406.00 | $330.00 | Mistral Small 4 saves $76.00 |
Pros & Cons
DeepSeek V3.2 (Chat) Strengths
- +Cheaper output tokens
Mistral Small 4 Strengths
- +Cheaper input tokens
- +Larger context window (256K vs 128K)
- +Higher max output tokens
When to Use Each Model
Choose DeepSeek V3.2 (Chat) for
- →Projects already integrated with DeepSeek's ecosystem
Choose Mistral Small 4 for
- →Long documents, large codebases, or multi-turn conversations
- →Generating long-form content or detailed code
Frequently Asked Questions
Which is cheaper, DeepSeek V3.2 (Chat) or Mistral Small 4?
For input tokens, Mistral Small 4 is 1.9x cheaper at $0.15/1M tokens. For output tokens, DeepSeek V3.2 (Chat) is 1.4x cheaper at $0.42/1M tokens. At typical usage (1M input + 300K output), DeepSeek V3.2 (Chat) costs $0.406 vs Mistral Small 4 at $0.330.
What's the context window difference?
DeepSeek V3.2 (Chat) supports 128K context (128,000 tokens), while Mistral Small 4 supports 256K (256,000 tokens). Mistral Small 4 can handle 2x more context in a single request.
Which model has better benchmarks?
When should I choose DeepSeek V3.2 (Chat) over Mistral Small 4?
Choose DeepSeek V3.2 (Chat) when you need: Cheaper output tokens. Choose Mistral Small 4 when you need: Cheaper input tokens, Larger context window (256K vs 128K), Higher max output tokens.
How much would 10,000 API requests cost?
At 1K input + 300 output tokens per request (typical chat): DeepSeek V3.2 (Chat) = $4.06, Mistral Small 4 = $3.30. At 10K input + 1K output per request (longer conversations): DeepSeek V3.2 (Chat) = $32.20, Mistral Small 4 = $21.00.
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