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 rows | SWE-bench Verified leader |
Decision tradeoffs
- DeepSeek V3.2 has broader tracked provider coverage for fallback and procurement 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, Function calling, and 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, Function calling, and 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, Function calling, and 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 | MIT(OSI) | Tencent Hunyuan Community License |
| Openness | Open source | Open weights |
| Commercial use | Commercial use allowed | Commercial use with conditions |
| 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 |
| Function calling | No | Yes |
| 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 |
Deep dive
On shared benchmark coverage, SWE-bench Verified has DeepSeek V3.2 at 70 and Hunyuan Hy3 Preview at 74.4, with Hunyuan Hy3 Preview ahead by 4.4 points; Google-Proof Q&A has DeepSeek V3.2 at 84 and Hunyuan Hy3 Preview at 87.2, with Hunyuan Hy3 Preview ahead by 3.2 points. The largest visible gap is 4.4 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: Hunyuan Hy3 Preview, function calling: Hunyuan Hy3 Preview, tool use: Hunyuan Hy3 Preview, structured outputs: DeepSeek V3.2, and code execution: DeepSeek V3.2. Both models share the core language-model surface, 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 Hunyuan Hy3 Preview lists $0.07/1M input and $0.26/1M output tokens on the cheapest tracked provider. A 70/30 input-output blend puts Hunyuan Hy3 Preview lower by about $0.17 per million blended tokens. Availability is 7 providers versus 2, so concentration risk also matters.
Choose DeepSeek V3.2 when coding workflow support and broader provider choice are central to the workload. Choose Hunyuan Hy3 Preview when reasoning depth, larger context windows, and lower 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 Hunyuan Hy3 Preview?
Hunyuan Hy3 Preview supports 262k 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 Hunyuan Hy3 Preview?
Hunyuan Hy3 Preview is cheaper on tracked token pricing. DeepSeek V3.2 costs $0.25/1M input and $0.38/1M output tokens. Hunyuan Hy3 Preview costs $0.07/1M input and $0.26/1M output tokens. Provider discounts or batch pricing can still change the final bill.
Is DeepSeek V3.2 or Hunyuan Hy3 Preview open source?
DeepSeek V3.2 is listed under MIT. Hunyuan Hy3 Preview is listed under Tencent Hunyuan Community License. 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 Hunyuan Hy3 Preview?
Hunyuan Hy3 Preview 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 function calling, DeepSeek V3.2 or Hunyuan Hy3 Preview?
Hunyuan Hy3 Preview has the clearer documented function calling signal in this comparison. If function calling 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 Hunyuan Hy3 Preview?
DeepSeek V3.2 is available on Fireworks AI, NVIDIA NIM, AWS Bedrock, OpenRouter, and Microsoft Foundry. Hunyuan Hy3 Preview is available on OpenRouter and Tencent Cloud TI Platform. Provider coverage can affect latency, region availability, compliance posture, and fallback options.
Continue comparing
Last reviewed: 2026-06-07. Data sourced from public model cards and provider documentation.