DeepSeek V3.2 vs Hunyuan Hy3 Preview
DeepSeek V3.2 (2025) and Hunyuan Hy3 Preview (2026) are frontier reasoning models from DeepSeek and Tencent AI Lab. DeepSeek V3.2 ships a 160k-token context window, while Hunyuan Hy3 Preview ships a 262k-token context window. On SWE-bench Verified, Hunyuan Hy3 Preview leads by 4.4 pts. On pricing, Hunyuan Hy3 Preview costs $0.07/1M input tokens versus $0.25/1M for the alternative. This comparison covers specs, pricing, API access, capabilities, benchmarks, input and output token costs, and production fit for coding and agent workloads.
Hunyuan Hy3 Preview is ~282% cheaper at $0.07/1M; pay for DeepSeek V3.2 only for coding workflow support.
Decision scorecard
Local evidence first| Signal | DeepSeek V3.2 | Hunyuan Hy3 Preview |
|---|---|---|
| Best for | provider-routed production | reasoning-heavy apps, tool-calling agents, and provider-routed production |
| Decision fit | Coding, RAG, and Agents | Coding, RAG, and Agents |
| Context window | 160k | 262k |
| Cheapest output | $0.38/1M tokens | $0.26/1M tokens |
| Provider routes | 7 tracked | 2 tracked |
| Shared benchmarks | 2 shared | SWE-bench Verified leader |
Decision tradeoffs
- DeepSeek V3.2 has broader tracked provider coverage for fallback and route flexibility.
- DeepSeek V3.2 uniquely exposes Structured outputs and Code execution in local model data.
- Local decision data tags DeepSeek V3.2 for Coding, RAG, and Agents.
- Hunyuan Hy3 Preview holds a shared-benchmark lead on SWE-bench Verified, ahead by 4.4 points.
- Hunyuan Hy3 Preview has the larger context window for long prompts, retrieval packs, or transcript analysis.
- Hunyuan Hy3 Preview has the lower cheapest tracked output price at $0.26/1M tokens.
- Hunyuan Hy3 Preview uniquely exposes Reasoning and JSON / Tool use in local model data.
- Local decision data tags Hunyuan Hy3 Preview 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.
DeepSeek V3.2
$296
Cheapest tracked route/tier: OpenRouter
Hunyuan Hy3 Preview
$118
Cheapest tracked route/tier: OpenRouter
Estimated monthly gap: $178. Batch, cache, alternate speed tiers, and negotiated pricing are excluded from this local estimate.
Switch friction
- Provider overlap exists on OpenRouter; start route-level A/B tests there.
- Hunyuan Hy3 Preview is $0.12/1M tokens lower on cheapest tracked output pricing before cache, batch, or negotiated discounts.
- Check replacement coverage for Structured outputs and Code execution before moving production traffic.
- Hunyuan Hy3 Preview adds Reasoning and JSON / Tool use in local capability data.
- Provider overlap exists on OpenRouter; start route-level A/B tests there.
- DeepSeek V3.2 is $0.12/1M 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 Structured outputs and Code execution in local capability data.
Specs
| Specification | ||
|---|---|---|
| Released | 2025-12-01 | 2026-04-22 |
| Context window | 160k | 262k |
| Parameters | 671B | 295B |
| Architecture | Decoder Only | Dense + MoE Hybrid |
| License | MITOSI-approved | Tencent Hunyuan Community License |
| Openness | Open source | Open weights |
| Weights | Unknown | Available |
| Code | Unknown | Unknown |
| Commercial use | Commercial use: permitted | Commercial use: conditional |
| Knowledge cutoff | - | - |
Pricing and availability
| Pricing attribute | DeepSeek V3.2 | Hunyuan Hy3 Preview |
|---|---|---|
| Input price | $0.25/1M tokens | $0.07/1M tokens |
| Output price | $0.38/1M tokens | $0.26/1M tokens |
| Providers |
Capabilities
| Capability | DeepSeek V3.2 | Hunyuan Hy3 Preview |
|---|---|---|
| Vision | No | No |
| Multimodal | No | No |
| Reasoning | No | Yes |
| JSON / Tool use | No | Yes |
| Structured outputs | Yes | No |
| Code execution | Yes | No |
| IDE integration | No | No |
| Computer use | No | No |
| Parallel agents | No | No |
Benchmarks
| Benchmark | DeepSeek V3.2 | Hunyuan Hy3 Preview |
|---|---|---|
| SWE-bench Verified | 70.0 | 74.4 |
| Google-Proof Q&A | 84.0 | 87.2 |
Continue comparing
- DeepSeek V3.2 vs Phi-4 Mini Flash Reasoning
- DeepSeek V3.1 vs Hunyuan Hy3 Preview
- Hunyuan Hy3 Preview vs o3
- DeepSeek V3.2 vs Grok 4
- DeepSeek V3 vs Hunyuan Hy3 Preview
- Claude Opus 4.7 vs Hunyuan Hy3 Preview
- Claude Opus 4.6 vs Hunyuan Hy3 Preview
- Claude Sonnet 4.6 vs Hunyuan Hy3 Preview
- Hunyuan Hy3 Preview vs o3-pro
Popular comparisons for DeepSeek V3.2
Popular comparisons for Hunyuan Hy3 Preview
Last reviewed: 2026-06-29. Data sourced from public model cards and provider documentation.