DeepSeek V3 vs Mistral Small 4
DeepSeek V3 (2024) and Mistral Small 4 (2026) are compact production models from DeepSeek and MistralAI. DeepSeek V3 ships a 64k-token context window, while Mistral Small 4 ships a 256k-token context window. On MMLU PRO, Mistral Small 4 leads by 2.1 pts. On pricing, DeepSeek V3 costs $0.10/1M input tokens versus $0.15/1M 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 ~50% cheaper at $0.10/1M; pay for Mistral Small 4 only for long-context analysis.
Decision scorecard
Local evidence first| Signal | DeepSeek V3 | Mistral Small 4 |
|---|---|---|
| Best for | tool-calling agents and provider-routed production | multimodal apps, tool-calling agents, and provider-routed production |
| Decision fit | Coding, Agents, and Classification | RAG, Agents, and Long context |
| Context window | 64k | 256k |
| Cheapest output | $0.30/1M tokens | $0.60/1M tokens |
| Provider routes | 13 tracked | 3 tracked |
| Shared benchmarks | 1 rows | MMLU PRO leader |
Decision tradeoffs
- DeepSeek V3 has the lower cheapest tracked output price at $0.30/1M tokens.
- DeepSeek V3 has broader tracked provider coverage for fallback and procurement flexibility.
- DeepSeek V3 uniquely exposes Structured outputs in local model data.
- Local decision data tags DeepSeek V3 for Coding, Agents, and Classification.
- Mistral Small 4 holds a shared-benchmark lead on MMLU PRO, ahead by 2.1 points.
- Mistral Small 4 has the larger context window for long prompts, retrieval packs, or transcript analysis.
- Mistral Small 4 uniquely exposes Vision and Multimodal in local model data.
- Local decision data tags Mistral Small 4 for RAG, Agents, and Long context.
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 Small 4
$270
Cheapest tracked route/tier: OpenRouter
Estimated monthly gap: $115. Batch, cache, alternate speed tiers, and negotiated pricing are excluded from this local estimate.
Switch friction
- Provider overlap exists on OpenRouter and NVIDIA NIM; start route-level A/B tests there.
- Mistral Small 4 is $0.30/1M tokens higher on cheapest tracked output pricing, so quality gains need to justify the spend.
- Check replacement coverage for Structured outputs before moving production traffic.
- Mistral Small 4 adds Vision and Multimodal in local capability data.
- Provider overlap exists on OpenRouter and NVIDIA NIM; start route-level A/B tests there.
- DeepSeek V3 is $0.30/1M tokens lower on cheapest tracked output pricing before cache, batch, or negotiated discounts.
- Check replacement coverage for Vision and Multimodal before moving production traffic.
- DeepSeek V3 adds Structured outputs in local capability data.
Specs
| Specification | ||
|---|---|---|
| Released | 2024-12-26 | 2026-03-16 |
| Context window | 64k | 256k |
| Parameters | 671B | 119B (6.5B active) |
| Architecture | mixture of experts | moe |
| License | MIT(OSI) | Apache 2.0(OSI) |
| Openness | Open source | Open source |
| Commercial use | Commercial use allowed | Commercial use allowed |
| Knowledge cutoff | 2024-04 | 2025-06 |
Pricing and availability
| Pricing attribute | DeepSeek V3 | Mistral Small 4 |
|---|---|---|
| Input price | $0.10/1M tokens | $0.15/1M tokens |
| Output price | $0.30/1M tokens | $0.60/1M tokens |
| Providers |
Capabilities
| Capability | DeepSeek V3 | Mistral Small 4 |
|---|---|---|
| Vision | No | Yes |
| Multimodal | No | Yes |
| Reasoning | No | No |
| Function calling | Yes | Yes |
| Tool use | Yes | Yes |
| Structured outputs | Yes | No |
| Code execution | No | No |
| IDE integration | No | No |
| Computer use | No | No |
| Parallel agents | No | No |
Benchmarks
| Benchmark | DeepSeek V3 | Mistral Small 4 |
|---|---|---|
| MMLU PRO | 75.9 | 78.0 |
Deep dive
On shared benchmark coverage, MMLU PRO has DeepSeek V3 at 75.9 and Mistral Small 4 at 78, with Mistral Small 4 ahead by 2.1 points. The largest visible gap is 2.1 points on MMLU PRO, 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 vision: Mistral Small 4, multimodal input: Mistral Small 4, and structured outputs: DeepSeek V3. Both models share function calling and tool use, 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 lists $0.10/1M input and $0.30/1M output tokens on the cheapest tracked provider, while Mistral Small 4 lists $0.15/1M input and $0.60/1M output tokens on the cheapest tracked provider. A 70/30 input-output blend puts DeepSeek V3 lower by about $0.13 per million blended tokens. Availability is 13 providers versus 3, so concentration risk also matters.
Choose DeepSeek V3 when provider fit, lower input-token cost, and broader provider choice are central to the workload. Choose Mistral Small 4 when long-context analysis and larger context windows 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 or Mistral Small 4?
Mistral Small 4 supports 256k tokens, while DeepSeek V3 supports 64k 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 or Mistral Small 4?
DeepSeek V3 is cheaper on tracked token pricing. DeepSeek V3 costs $0.10/1M input and $0.30/1M output tokens. Mistral Small 4 costs $0.15/1M input and $0.60/1M output tokens. Provider discounts or batch pricing can still change the final bill.
Is DeepSeek V3 or Mistral Small 4 open source?
DeepSeek V3 is listed under MIT. Mistral Small 4 is listed under Apache 2.0. 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 vision, DeepSeek V3 or Mistral Small 4?
Mistral Small 4 has the clearer documented vision signal in this comparison. If vision is mission-critical, validate it against the provider endpoint because model-level support and API-level exposure can differ.
Which is better for multimodal input, DeepSeek V3 or Mistral Small 4?
Mistral Small 4 has the clearer documented multimodal input signal in this comparison. If multimodal input 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 and Mistral Small 4?
DeepSeek V3 is available on DeepInfra, Fireworks AI, DeepSeek Platform, Microsoft Foundry, and OpenRouter. Mistral Small 4 is available on OpenRouter, NVIDIA NIM, and Mistral AI Studio. Provider coverage can affect latency, region availability, compliance posture, and fallback options.
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Last reviewed: 2026-05-22. Data sourced from public model cards and provider documentation.