DeepSeek V3.2 vs o3
DeepSeek V3.2 (2025) and o3 (2025) are frontier reasoning models from DeepSeek and OpenAI. DeepSeek V3.2 ships a 160K-token context window, while o3 ships a 128K-token context window. On SWE-bench Verified, o3 leads by 1.7 pts. On pricing, DeepSeek V3.2 costs $0.26/1M input tokens versus $1/1M for the alternative. This comparison covers specs, pricing, capabilities, benchmarks, provider availability, and production fit.
DeepSeek V3.2 is ~286% cheaper at $0.26/1M; pay for o3 only for coding workflow support.
Specs
| Released | 2025-01-01 | 2025-03-31 |
| Context window | 160K | 128K |
| Parameters | 671B | — |
| Architecture | decoder only | decoder only |
| License | Open Source | Unknown |
| Knowledge cutoff | - | - |
Pricing and availability
| DeepSeek V3.2 | o3 | |
|---|---|---|
| Input price | $0.26/1M tokens | $1/1M tokens |
| Output price | $0.42/1M tokens | $4/1M tokens |
| Providers |
Capabilities
| DeepSeek V3.2 | o3 | |
|---|---|---|
| Vision | ||
| Multimodal | ||
| Reasoning | ||
| Function calling | ||
| Tool use | ||
| Structured outputs | ||
| Code execution |
Benchmarks
| Benchmark | DeepSeek V3.2 | o3 |
|---|---|---|
| SWE-bench Verified | 70.0 | 71.7 |
| Google-Proof Q&A | 84.0 | 87.7 |
Deep dive
On shared benchmark coverage, SWE-bench Verified has DeepSeek V3.2 at 70 and o3 at 71.7, with o3 ahead by 1.7 points; Google-Proof Q&A has DeepSeek V3.2 at 84 and o3 at 87.7, with o3 ahead by 3.7 points. The largest visible gap is 3.7 points on Google-Proof Q&A, 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: o3. Both models share structured outputs and code execution, 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 $0.26/1M input and $0.42/1M output tokens, while o3 lists $1/1M input and $4/1M output tokens on the cheapest tracked provider. A 70/30 input-output blend puts DeepSeek V3.2 lower by about $1.59 per million blended tokens. Availability is 4 providers versus 3, so concentration risk also matters.
Choose DeepSeek V3.2 when coding workflow support, larger context windows, and lower input-token cost are central to the workload. Choose o3 when coding workflow support 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 o3?
DeepSeek V3.2 supports 160K tokens, while o3 supports 128K tokens. That gap matters most for long documents, large codebases, retrieval-heavy agents, and conversations where earlier context must remain visible. Use this as a quick comparison signal, then confirm the provider-specific limits before committing to production.
Which is cheaper, DeepSeek V3.2 or o3?
DeepSeek V3.2 is cheaper on tracked token pricing. DeepSeek V3.2 costs $0.26/1M input and $0.42/1M output tokens. o3 costs $1/1M input and $4/1M output tokens. Provider discounts or batch pricing can still change the final bill.
Is DeepSeek V3.2 or o3 open source?
DeepSeek V3.2 is listed under Open Source. o3 is listed under Unknown. 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 o3?
o3 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 structured outputs, DeepSeek V3.2 or o3?
Both DeepSeek V3.2 and o3 expose structured outputs. The better choice depends on benchmark fit, context budget, pricing, and whether your provider route exposes the same capability surface. Use this as a quick comparison signal, then confirm the provider-specific limits before committing to production.
Where can I run DeepSeek V3.2 and o3?
DeepSeek V3.2 is available on Fireworks AI, NVIDIA NIM, AWS Bedrock, and OpenRouter. o3 is available on OpenAI API, OpenRouter, and OpenAI Batch API. Provider coverage can affect latency, region availability, compliance posture, and fallback options.
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Last reviewed: 2026-04-24. Data sourced from public model cards and provider documentation.