Hunyuan Hy3 Preview vs Mistral Medium 3.5
Hunyuan Hy3 Preview (2026) and Mistral Medium 3.5 (2026) are frontier-tier reasoning models from Tencent AI Lab and MistralAI. Hunyuan Hy3 Preview ships a 262k-token context window, while Mistral Medium 3.5 ships a 256k-token context window. On SWE-bench Verified, Mistral Medium 3.5 leads by 3.2 pts. 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 ~2173% cheaper at $0.07/1M; pay for Mistral Medium 3.5 only for vision-heavy evaluation.
Decision scorecard
Local evidence first| Signal | Hunyuan Hy3 Preview | Mistral Medium 3.5 |
|---|---|---|
| Best for | reasoning-heavy apps, tool-calling agents, and provider-routed production | reasoning-heavy apps, multimodal apps, and tool-calling agents |
| Decision fit | Coding, RAG, and Agents | Coding, RAG, and Agents |
| Context window | 262k | 256k |
| Cheapest output | $0.26/1M tokens | $7.50/1M tokens |
| Provider routes | 2 tracked | 3 tracked |
| Shared benchmarks | 2 rows | SWE-bench Verified leader |
Decision tradeoffs
- Hunyuan Hy3 Preview holds a shared-benchmark lead on Google-Proof Q&A, ahead by 15.9 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.
- Local decision data tags Hunyuan Hy3 Preview for Coding, RAG, and Agents.
- Mistral Medium 3.5 holds a shared-benchmark lead on SWE-bench Verified, ahead by 3.2 points.
- Mistral Medium 3.5 has broader tracked provider coverage for fallback and procurement flexibility.
- Mistral Medium 3.5 uniquely exposes Vision, Multimodal, and Structured outputs in local model data.
- Local decision data tags Mistral Medium 3.5 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.
Hunyuan Hy3 Preview
$118
Cheapest tracked route/tier: OpenRouter
Mistral Medium 3.5
$3,075
Cheapest tracked route/tier: Mistral AI Studio
Estimated monthly gap: $2,957. 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.
- Mistral Medium 3.5 is $7.24/1M tokens higher on cheapest tracked output pricing, so quality gains need to justify the spend.
- Mistral Medium 3.5 adds Vision, Multimodal, and Structured outputs in local capability data.
- Provider overlap exists on OpenRouter; start route-level A/B tests there.
- Hunyuan Hy3 Preview is $7.24/1M tokens lower on cheapest tracked output pricing before cache, batch, or negotiated discounts.
- Check replacement coverage for Vision, Multimodal, and Structured outputs before moving production traffic.
Specs
| Specification | ||
|---|---|---|
| Released | 2026-04-22 | 2026-04-29 |
| Context window | 262k | 256k |
| Parameters | 295B | 128B |
| Architecture | dense moe hybrid | decoder only |
| License | Tencent Hunyuan Community License | Proprietary |
| Openness | Open weights | Proprietary |
| Commercial use | Commercial use with conditions | Commercial use with conditions |
| Knowledge cutoff | - | - |
Pricing and availability
| Pricing attribute | Hunyuan Hy3 Preview | Mistral Medium 3.5 |
|---|---|---|
| Input price | $0.07/1M tokens | $1.50/1M tokens |
| Output price | $0.26/1M tokens | $7.50/1M tokens |
| Providers |
Capabilities
| Capability | Hunyuan Hy3 Preview | Mistral Medium 3.5 |
|---|---|---|
| Vision | No | Yes |
| Multimodal | No | Yes |
| Reasoning | Yes | Yes |
| Function calling | Yes | Yes |
| Tool use | Yes | Yes |
| Structured outputs | No | Yes |
| Code execution | No | No |
| IDE integration | No | No |
| Computer use | No | No |
| Parallel agents | No | No |
Benchmarks
| Benchmark | Hunyuan Hy3 Preview | Mistral Medium 3.5 |
|---|---|---|
| SWE-bench Verified | 74.4 | 77.6 |
| Google-Proof Q&A | 87.2 | 71.3 |
Deep dive
On shared benchmark coverage, SWE-bench Verified has Hunyuan Hy3 Preview at 74.4 and Mistral Medium 3.5 at 77.6, with Mistral Medium 3.5 ahead by 3.2 points; Google-Proof Q&A has Hunyuan Hy3 Preview at 87.2 and Mistral Medium 3.5 at 71.3, with Hunyuan Hy3 Preview ahead by 15.9 points. The largest visible gap is 15.9 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 vision: Mistral Medium 3.5, multimodal input: Mistral Medium 3.5, and structured outputs: Mistral Medium 3.5. Both models share reasoning mode, 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, Hunyuan Hy3 Preview lists $0.07/1M input and $0.26/1M output tokens on the cheapest tracked provider, while Mistral Medium 3.5 lists $1.50/1M input and $7.50/1M output tokens on the cheapest tracked provider. A 70/30 input-output blend puts Hunyuan Hy3 Preview lower by about $3.18 per million blended tokens. Availability is 2 providers versus 3, so concentration risk also matters.
Choose Hunyuan Hy3 Preview when long-context analysis, larger context windows, and lower input-token cost are central to the workload. Choose Mistral Medium 3.5 when vision-heavy evaluation and broader provider choice 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, Hunyuan Hy3 Preview or Mistral Medium 3.5?
Hunyuan Hy3 Preview supports 262k tokens, while Mistral Medium 3.5 supports 256k tokens. That gap matters most for long documents, large codebases, retrieval-heavy agents, and conversations where earlier context must remain visible.
Which is cheaper, Hunyuan Hy3 Preview or Mistral Medium 3.5?
Hunyuan Hy3 Preview is cheaper on tracked token pricing. Hunyuan Hy3 Preview costs $0.07/1M input and $0.26/1M output tokens. Mistral Medium 3.5 costs $1.50/1M input and $7.50/1M output tokens. Provider discounts or batch pricing can still change the final bill.
Is Hunyuan Hy3 Preview or Mistral Medium 3.5 open source?
Hunyuan Hy3 Preview is listed under Tencent Hunyuan Community License. Mistral Medium 3.5 is listed under Proprietary. 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, Hunyuan Hy3 Preview or Mistral Medium 3.5?
Mistral Medium 3.5 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, Hunyuan Hy3 Preview or Mistral Medium 3.5?
Mistral Medium 3.5 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 Hunyuan Hy3 Preview and Mistral Medium 3.5?
Hunyuan Hy3 Preview is available on OpenRouter and Tencent Cloud TI Platform. Mistral Medium 3.5 is available on Mistral AI Studio, OpenRouter, and Vercel AI Gateway. Provider coverage can affect latency, region availability, compliance posture, and fallback options.
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Last reviewed: 2026-06-07. Data sourced from public model cards and provider documentation.