Hunyuan Hy3 Preview vs Mistral Magistral Small 2509
Hunyuan Hy3 Preview (2026) and Mistral Magistral Small 2509 (2025) are frontier reasoning models from Tencent AI Lab and MistralAI. Hunyuan Hy3 Preview ships a 262k-token context window, while Mistral Magistral Small 2509 ships a not-yet-sourced context window. On pricing, Hunyuan Hy3 Preview costs $0.07/1M input tokens versus $0.50/1M 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 ~658% cheaper at $0.07/1M; pay for Mistral Magistral Small 2509 only for provider fit.
Decision scorecard
Local evidence first| Signal | Hunyuan Hy3 Preview | Mistral Magistral Small 2509 |
|---|---|---|
| Best for | reasoning-heavy apps, tool-calling agents, and provider-routed production | provider-routed production |
| Decision fit | Coding, RAG, and Agents | General |
| Context window | 262k | — |
| Cheapest output | $0.26/1M tokens | $1.50/1M tokens |
| Provider routes | 2 tracked | 2 tracked |
| Shared benchmarks | 0 shared | 0 shared |
Decision tradeoffs
- 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.
- Use Mistral Magistral Small 2509 when your own prompt tests beat the comparison signals; the local data does not show a decisive standalone advantage yet.
Monthly cost at traffic
Estimate token spend from the cheapest tracked input and output route or tier on this page.
Hunyuan Hy3 Preview
$118
Cheapest tracked route/tier: OpenRouter
Mistral Magistral Small 2509
$775
Cheapest tracked route/tier: AWS Bedrock
Estimated monthly gap: $657. Batch, cache, alternate speed tiers, and negotiated pricing are excluded from this local estimate.
Switch friction
- No overlapping tracked provider route is sourced for Hunyuan Hy3 Preview and Mistral Magistral Small 2509; plan for SDK, billing, or endpoint changes.
- Mistral Magistral Small 2509 is $1.24/1M 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.
- No overlapping tracked provider route is sourced for Mistral Magistral Small 2509 and Hunyuan Hy3 Preview; plan for SDK, billing, or endpoint changes.
- Hunyuan Hy3 Preview is $1.24/1M tokens lower on cheapest tracked output pricing before cache, batch, or negotiated discounts.
- Hunyuan Hy3 Preview adds Reasoning and JSON / Tool use in local capability data.
Specs
| Specification | ||
|---|---|---|
| Released | 2026-04-22 | 2025-09-01 |
| Context window | 262k | — |
| Parameters | 295B | 24B |
| Architecture | Dense + MoE Hybrid | - |
| License | Tencent Hunyuan Community License | Apache 2.0OSI-approved |
| Openness | Open weights | Open source |
| Weights | Available | Unknown |
| Code | Unknown | Unknown |
| Commercial use | Commercial use: conditional | Commercial use: permitted |
| Knowledge cutoff | - | - |
Pricing and availability
| Pricing attribute | Hunyuan Hy3 Preview | Mistral Magistral Small 2509 |
|---|---|---|
| Input price | $0.07/1M tokens | $0.50/1M tokens |
| Output price | $0.26/1M tokens | $1.50/1M tokens |
| Providers |
Capabilities
| Capability | Hunyuan Hy3 Preview | Mistral Magistral Small 2509 |
|---|---|---|
| Vision | No | No |
| Multimodal | No | No |
| Reasoning | Yes | No |
| JSON / Tool use | Yes | No |
| Structured outputs | No | No |
| Code execution | No | No |
| IDE integration | No | No |
| Computer use | No | No |
| Parallel agents | No | No |
Benchmarks
No shared benchmark scores are currently available for this pair.
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Last reviewed: 2026-06-29. Data sourced from public model cards and provider documentation.