DeepSeek V3.2 vs DeepSeek V4 Flash

DeepSeek V3.2 (2025) and DeepSeek V4 Flash (2026) are frontier reasoning models from DeepSeek. DeepSeek V3.2 ships a 160K-token context window, while DeepSeek V4 Flash ships a 1M-token context window. On SWE-bench Verified, DeepSeek V4 Flash leads by 9 pts. This comparison covers specs, pricing, API access, capabilities, benchmarks, input and output token costs, and production fit for coding and agent workloads.

DeepSeek V4 Flash fits 6x more tokens; pick it for long-context work and DeepSeek V3.2 for tighter calls.

Decision scorecard

Local evidence first
SignalDeepSeek V3.2DeepSeek V4 Flash
Best forprovider-routed productionreasoning-heavy apps, tool-calling agents, and long-context analysis
Decision fitCoding, RAG, and AgentsCoding, RAG, and Agents
Context window160K1M
Cheapest output$0.38/1M tokens$0.12/1M tokens
Provider routes8 tracked5 tracked
Shared benchmarks2 sharedSWE-bench Verified leader

Decision tradeoffs

Choose DeepSeek V3.2 when...
  • DeepSeek V3.2 has broader tracked provider coverage for fallback and route flexibility.
  • DeepSeek V3.2 uniquely exposes Code execution in local model data.
  • Local decision data tags DeepSeek V3.2 for Coding, RAG, and Agents.
Choose DeepSeek V4 Flash when...
  • DeepSeek V4 Flash holds a shared-benchmark lead on SWE-bench Verified, ahead by 9 points.
  • DeepSeek V4 Flash has the larger context window for long prompts, retrieval packs, or transcript analysis.
  • DeepSeek V4 Flash has the lower cheapest tracked output price at $0.12/1M tokens.
  • DeepSeek V4 Flash uniquely exposes Reasoning and JSON / Tool use in local model data.
  • Local decision data tags DeepSeek V4 Flash for Coding, RAG, and Agents.

Monthly cost at traffic

Estimate token spend from the cheapest tracked input and output route or tier on this page.

Lower estimate DeepSeek V4 Flash

DeepSeek V3.2

$296

Cheapest tracked route/tier: OpenRouter

DeepSeek V4 Flash

$76.26

Cheapest tracked route/tier: OpenRouter

Estimated monthly gap: $220. Batch, cache, alternate speed tiers, and negotiated pricing are excluded from this local estimate.

Switch friction

DeepSeek V3.2 -> DeepSeek V4 Flash
  • Provider overlap exists on OpenRouter, Microsoft Foundry, and Vercel AI Gateway; start route-level A/B tests there.
  • DeepSeek V4 Flash is $0.26/1M tokens lower on cheapest tracked output pricing before cache, batch, or negotiated discounts.
  • Check replacement coverage for Code execution before moving production traffic.
  • DeepSeek V4 Flash adds Reasoning and JSON / Tool use in local capability data.
DeepSeek V4 Flash -> DeepSeek V3.2
  • Provider overlap exists on OpenRouter, Microsoft Foundry, and Vercel AI Gateway; start route-level A/B tests there.
  • DeepSeek V3.2 is $0.26/1M tokens higher on cheapest tracked output pricing, so quality gains need to justify the spend.
  • Check replacement coverage for Reasoning and JSON / Tool use before moving production traffic.
  • DeepSeek V3.2 adds Code execution in local capability data.

Specs

Specification
Released2025-12-012026-04-24
Context window160K1M
Parameters671B284B
ArchitectureDecoder OnlyMixture of Experts
LicenseMITOSI-approvedMITOSI-approved
OpennessOpen sourceOpen source
WeightsUnknownAvailable
CodeUnknownUnknown
Commercial useCommercial use: permittedCommercial use: permitted
Knowledge cutoff--

Pricing and availability

Pricing attributeDeepSeek V3.2DeepSeek V4 Flash
Input price$0.25/1M tokens
Off-peak
$0.22/1M tokens
All UTC hours outside DeepSeek's peak windows. Cache-hit input: $0.007 per 1M tokens; cache-miss input: $0.22 per 1M; output: $0.66 per 1M.
Peak
$0.44/1M tokens
01:00-04:00 and 06:00-10:00 UTC. Cache-hit input: $0.014 per 1M tokens; cache-miss input: $0.44 per 1M; output: $1.32 per 1M.
Output price$0.38/1M tokens
Off-peak
$0.66/1M tokens
All UTC hours outside DeepSeek's peak windows. Cache-hit input: $0.007 per 1M tokens; cache-miss input: $0.22 per 1M; output: $0.66 per 1M.
Peak
$1.32/1M tokens
01:00-04:00 and 06:00-10:00 UTC. Cache-hit input: $0.014 per 1M tokens; cache-miss input: $0.44 per 1M; output: $1.32 per 1M.
Providers
Fireworks AINVIDIA NIMAWS BedrockOpenRouterMicrosoft FoundryVercel AI Gateway
DeepSeek PlatformOpenRouterMicrosoft FoundryVercel AI GatewayNovita AI

Capabilities

CapabilityDeepSeek V3.2DeepSeek V4 Flash
VisionNoNo
MultimodalNoNo
ReasoningNoYes
JSON / Tool useNoYes
Structured outputsYesYes
Code executionYesNo
IDE integrationNoNo
Computer useNoNo
Parallel agentsNoNo

Benchmarks

BenchmarkDeepSeek V3.2DeepSeek V4 Flash
SWE-bench Verified70.079.0
Google-Proof Q&A84.088.1

Deep dive

On shared benchmark coverage, SWE-bench Verified has DeepSeek V3.2 at 70 and DeepSeek V4 Flash at 79, with DeepSeek V4 Flash ahead by 9 points; Google-Proof Q&A has DeepSeek V3.2 at 84 and DeepSeek V4 Flash at 88.1, with DeepSeek V4 Flash ahead by 4.1 points. The largest visible gap is 9 points on SWE-bench Verified, which matters most when that benchmark mirrors your workload. Treat isolated benchmark wins as directional, because provider routing, prompt style, and tool access can move real application results.

The capability footprint differs most on reasoning mode: DeepSeek V4 Flash, JSON / Tool use: DeepSeek V4 Flash, JSON / Tool use: DeepSeek V4 Flash, and code execution: DeepSeek V3.2. Both models share structured outputs, so the practical split is not just feature count. Use those differences to decide whether the page is about raw model quality, agentic coding support, multimodal ingestion, or predictable structured API behavior.

For cost, DeepSeek V3.2 lists $0.25/1M input and $0.38/1M output tokens on the cheapest tracked provider, while DeepSeek V4 Flash lists tiered pricing: Off-peak is $0.22/1M input and $0.66/1M output; Peak is $0.44/1M input and $1.32/1M output. A 70/30 input-output blend puts DeepSeek V4 Flash lower by about $0.21 per million blended tokens. For tiered rows, this cheapest-track view can understate interactive or fast-lane spend, so compare the tier you will actually use. Availability is 8 providers versus 5, so concentration risk also matters.

Choose DeepSeek V3.2 when coding workflow support and broader provider choice are central to the workload. Choose DeepSeek V4 Flash when reasoning depth, larger context windows, and lower cheapest-tier input-token cost are more important. For production, rerun your own prompts through the exact provider, region, and tool stack you plan to ship.

FAQ

Which has a larger context window, DeepSeek V3.2 or DeepSeek V4 Flash?

DeepSeek V4 Flash supports 1M tokens, while DeepSeek V3.2 supports 160K tokens. That gap matters most for long documents, large codebases, retrieval-heavy agents, and conversations where earlier context must remain visible.

Which is cheaper, DeepSeek V3.2 or DeepSeek V4 Flash?

DeepSeek V3.2 lists $0.25/1M input and $0.38/1M output tokens on the cheapest tracked provider. DeepSeek V4 Flash lists tiered pricing: Off-peak is $0.22/1M input and $0.66/1M output; Peak is $0.44/1M input and $1.32/1M output. Compare the tier you will actually use; cheap async pricing can overstate savings for interactive workflows. Provider discounts or batch pricing can still change the final bill.

Is DeepSeek V3.2 or DeepSeek V4 Flash open source?

DeepSeek V3.2 is listed under MIT. DeepSeek V4 Flash is listed under MIT. License labels affect whether you can self-host, redistribute weights, or rely only on hosted APIs, so confirm the upstream license before deployment.

Which is better for reasoning mode, DeepSeek V3.2 or DeepSeek V4 Flash?

DeepSeek V4 Flash has the clearer documented reasoning mode signal in this comparison. If reasoning mode is mission-critical, validate it against the provider endpoint because model-level support and API-level exposure can differ.

Which is better for JSON / Tool use, DeepSeek V3.2 or DeepSeek V4 Flash?

DeepSeek V4 Flash has the clearer documented JSON / Tool use signal in this comparison. If JSON / Tool use is mission-critical, validate it against the provider endpoint because model-level support and API-level exposure can differ.

Where can I run DeepSeek V3.2 and DeepSeek V4 Flash?

DeepSeek V3.2 is available on Fireworks AI, NVIDIA NIM, AWS Bedrock, OpenRouter, and Microsoft Foundry. DeepSeek V4 Flash is available on DeepSeek Platform, OpenRouter, Microsoft Foundry, Vercel AI Gateway, and Novita AI. Provider coverage can affect latency, region availability, compliance posture, and fallback options.

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Last reviewed: 2026-10-08. Data sourced from public model cards and provider documentation.