DeepSeek V3 vs Mistral Large 2
DeepSeek V3 (2024) and Mistral Large 2 (2025) are compact production models from DeepSeek and MistralAI. DeepSeek V3 ships a 64k-token context window, while Mistral Large 2 ships a 128k-token context window. On MMLU PRO, DeepSeek V3 leads by 6.2 pts. On pricing, DeepSeek V3 costs $0.10/1M input tokens versus $0.48/1M 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.
DeepSeek V3 is ~380% cheaper at $0.10/1M; pay for Mistral Large 2 only for long-context analysis.
Decision scorecard
Local evidence first| Signal | DeepSeek V3 | Mistral Large 2 |
|---|---|---|
| Best for | tool-calling agents and provider-routed production | multimodal apps, tool-calling agents, and provider-routed production |
| Decision fit | Coding, Agents, and Classification | Coding, RAG, and Agents |
| Context window | 64k | 128k |
| Cheapest output | $0.30/1M tokens | $2.40/1M tokens |
| Provider routes | 13 tracked | 3 tracked |
| Shared benchmarks | MMLU PRO leader | 5 shared |
Decision tradeoffs
- DeepSeek V3 holds a shared-benchmark lead on MMLU PRO, ahead by 6.2 points.
- DeepSeek V3 has the lower cheapest tracked output price at $0.30/1M tokens.
- DeepSeek V3 has broader tracked provider coverage for fallback and route flexibility.
- Local decision data tags DeepSeek V3 for Coding, Agents, and Classification.
- Mistral Large 2 has the larger context window for long prompts, retrieval packs, or transcript analysis.
- Mistral Large 2 uniquely exposes Vision and Multimodal in local model data.
- Local decision data tags Mistral Large 2 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
$155
Cheapest tracked route/tier: Bitdeer AI
Mistral Large 2
$984
Cheapest tracked route/tier: AWS Bedrock
Estimated monthly gap: $829. Batch, cache, alternate speed tiers, and negotiated pricing are excluded from this local estimate.
Switch friction
- Provider overlap exists on AWS Bedrock; start route-level A/B tests there.
- Mistral Large 2 is $2.10/1M tokens higher on cheapest tracked output pricing, so quality gains need to justify the spend.
- Mistral Large 2 adds Vision and Multimodal in local capability data.
- Provider overlap exists on AWS Bedrock; start route-level A/B tests there.
- DeepSeek V3 is $2.10/1M tokens lower on cheapest tracked output pricing before cache, batch, or negotiated discounts.
- Check replacement coverage for Vision and Multimodal before moving production traffic.
Specs
| Specification | ||
|---|---|---|
| Released | 2024-12-26 | 2025-11-25 |
| Context window | 64k | 128k |
| Parameters | 671B | 123B |
| Architecture | Mixture of Experts | Decoder Only |
| License | MITOSI-approved | Mistral License |
| Openness | Open source | Open weights |
| Weights | Available | Unknown |
| Code | Unknown | Unknown |
| Commercial use | Commercial use: permitted | Commercial use: non-commercial |
| Knowledge cutoff | 2024-04 | 2025-07 |
Pricing and availability
| Pricing attribute | DeepSeek V3 | Mistral Large 2 |
|---|---|---|
| Input price | $0.10/1M tokens | $0.48/1M tokens |
| Output price | $0.30/1M tokens | $2.40/1M tokens |
| Providers |
Capabilities
| Capability | DeepSeek V3 | Mistral Large 2 |
|---|---|---|
| Vision | No | Yes |
| Multimodal | No | Yes |
| Reasoning | No | No |
| JSON / Tool use | Yes | Yes |
| Structured outputs | Yes | Yes |
| Code execution | No | No |
| IDE integration | No | No |
| Computer use | No | No |
| Parallel agents | No | No |
Benchmarks
| Benchmark | DeepSeek V3 | Mistral Large 2 |
|---|---|---|
| MMLU PRO | 75.9 | 69.7 |
| HumanEval | 85.5 | 84.8 |
| Chatbot Arena | 1302.0 | 1265.0 |
| Massive Multitask Language Understanding | 88.5 | 84.0 |
| HellaSwag | 95.7 | 93.8 |
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Last reviewed: 2026-06-29. Data sourced from public model cards and provider documentation.