Hunyuan Hy3 Preview vs Mistral Small 3
Hunyuan Hy3 Preview (2026) and Mistral Small 3 (2025) are frontier reasoning models from Tencent AI Lab and MistralAI. Hunyuan Hy3 Preview ships a 262k-token context window, while Mistral Small 3 ships a 33k-token context window. On pricing, Hunyuan Hy3 Preview costs $0.07/1M input tokens versus $0.10/1M 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 ~52% cheaper at $0.07/1M; pay for Mistral Small 3 only for provider fit.
Decision scorecard
Local evidence first| Signal | Hunyuan Hy3 Preview | Mistral Small 3 |
|---|---|---|
| Best for | reasoning-heavy apps, tool-calling agents, and provider-routed production | tool-calling agents and provider-routed production |
| Decision fit | Coding, RAG, and Agents | Agents, Classification, and JSON / Tool use |
| Context window | 262k | 33k |
| Cheapest output | $0.26/1M tokens | $0.30/1M 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 in local model data.
- Local decision data tags Hunyuan Hy3 Preview for Coding, RAG, and Agents.
- Mistral Small 3 uniquely exposes Structured outputs in local model data.
- Local decision data tags Mistral Small 3 for Agents, Classification, and JSON / Tool use.
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 Small 3
$155
Cheapest tracked route/tier: Together AI
Estimated monthly gap: $37.20. 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 Small 3; plan for SDK, billing, or endpoint changes.
- Mistral Small 3 is $0.04/1M tokens higher on cheapest tracked output pricing, so quality gains need to justify the spend.
- Check replacement coverage for Reasoning before moving production traffic.
- Mistral Small 3 adds Structured outputs in local capability data.
- No overlapping tracked provider route is sourced for Mistral Small 3 and Hunyuan Hy3 Preview; plan for SDK, billing, or endpoint changes.
- Hunyuan Hy3 Preview is $0.04/1M tokens lower on cheapest tracked output pricing before cache, batch, or negotiated discounts.
- Check replacement coverage for Structured outputs before moving production traffic.
- Hunyuan Hy3 Preview adds Reasoning in local capability data.
Specs
| Specification | ||
|---|---|---|
| Released | 2026-04-22 | 2025-01-01 |
| Context window | 262k | 33k |
| Parameters | 295B | 24B |
| Architecture | Dense + MoE Hybrid | Decoder Only |
| 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 | - | 2023-10 |
Pricing and availability
| Pricing attribute | Hunyuan Hy3 Preview | Mistral Small 3 |
|---|---|---|
| Input price | $0.07/1M tokens | $0.10/1M tokens |
| Output price | $0.26/1M tokens | $0.30/1M tokens |
| Providers |
Capabilities
| Capability | Hunyuan Hy3 Preview | Mistral Small 3 |
|---|---|---|
| Vision | No | No |
| Multimodal | No | No |
| Reasoning | Yes | No |
| JSON / 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
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.