Mistral Large 2 vs Phi-3 Mini 4k
Mistral Large 2 (2025) and Phi-3 Mini 4k (2024) are compact production models from MistralAI and Microsoft Research. Mistral Large 2 ships a 128k-token context window, while Phi-3 Mini 4k ships a 4k-token context window. On MMLU PRO, Mistral Large 2 leads by 24.0 pts. This comparison covers specs, pricing, API access, capabilities, benchmarks, input and output token costs, and production fit for coding and agent workloads.
Phi-3 Mini 4k is ~860% cheaper at $0.05/1M; pay for Mistral Large 2 only for long-context analysis.
Decision scorecard
Local evidence first| Signal | Mistral Large 2 | Phi-3 Mini 4k |
|---|---|---|
| Best for | multimodal apps, tool-calling agents, and provider-routed production | provider-routed production |
| Decision fit | Coding, RAG, and Agents | Coding and Classification |
| Context window | 128k | 4k |
| Cheapest output | $2.40/1M tokens | $0.25/1M tokens |
| Provider routes | 4 tracked | 4 tracked |
| Shared benchmarks | MMLU PRO leader | 4 rows |
Decision tradeoffs
- Mistral Large 2 holds a shared-benchmark lead on MMLU PRO, ahead by 24.0 points.
- Mistral Large 2 has the larger context window for long prompts, retrieval packs, or transcript analysis.
- Mistral Large 2 uniquely exposes Vision, Multimodal, and Function calling in local model data.
- Local decision data tags Mistral Large 2 for Coding, RAG, and Agents.
- Phi-3 Mini 4k has the lower cheapest tracked output price at $0.25/1M tokens.
- Local decision data tags Phi-3 Mini 4k for Coding and Classification.
Monthly cost at traffic
Estimate token spend from the cheapest tracked input and output route or tier on this page.
Mistral Large 2
$984
Cheapest tracked route/tier: AWS Bedrock
Phi-3 Mini 4k
$103
Cheapest tracked route/tier: Replicate API
Estimated monthly gap: $882. Batch, cache, alternate speed tiers, and negotiated pricing are excluded from this local estimate.
Switch friction
- No overlapping tracked provider route is sourced for Mistral Large 2 and Phi-3 Mini 4k; plan for SDK, billing, or endpoint changes.
- Phi-3 Mini 4k is $2.15/1M tokens lower on cheapest tracked output pricing before cache, batch, or negotiated discounts.
- Check replacement coverage for Vision, Multimodal, and Function calling before moving production traffic.
- No overlapping tracked provider route is sourced for Phi-3 Mini 4k and Mistral Large 2; plan for SDK, billing, or endpoint changes.
- Mistral Large 2 is $2.15/1M tokens higher on cheapest tracked output pricing, so quality gains need to justify the spend.
- Mistral Large 2 adds Vision, Multimodal, and Function calling in local capability data.
Specs
| Specification | ||
|---|---|---|
| Released | 2025-11-25 | 2024-04-23 |
| Context window | 128k | 4k |
| Parameters | 123B | 3.8B |
| Architecture | decoder only | decoder only |
| License | Mistral License | MIT(OSI) |
| Openness | Open weights | Open source |
| Commercial use | Non-commercial only | Commercial use allowed |
| Knowledge cutoff | 2025-07 | 2023-10 |
Pricing and availability
| Pricing attribute | Mistral Large 2 | Phi-3 Mini 4k |
|---|---|---|
| Input price | $0.48/1M tokens | $0.05/1M tokens |
| Output price | $2.40/1M tokens | $0.25/1M tokens |
| Providers |
Capabilities
| Capability | Mistral Large 2 | Phi-3 Mini 4k |
|---|---|---|
| Vision | Yes | No |
| Multimodal | Yes | No |
| Reasoning | No | No |
| Function calling | Yes | No |
| Tool use | Yes | No |
| Structured outputs | Yes | No |
| Code execution | No | No |
| IDE integration | No | No |
| Computer use | No | No |
| Parallel agents | No | No |
Benchmarks
| Benchmark | Mistral Large 2 | Phi-3 Mini 4k |
|---|---|---|
| MMLU PRO | 69.7 | 45.7 |
| HumanEval | 84.8 | 59.8 |
| Massive Multitask Language Understanding | 84.0 | 68.2 |
| HellaSwag | 93.8 | 87.1 |
Deep dive
On shared benchmark coverage, MMLU PRO has Mistral Large 2 at 69.7 and Phi-3 Mini 4k at 45.7, with Mistral Large 2 ahead by 24.0 points; HumanEval has Mistral Large 2 at 84.8 and Phi-3 Mini 4k at 59.8, with Mistral Large 2 ahead by 25 points; Massive Multitask Language Understanding has Mistral Large 2 at 84 and Phi-3 Mini 4k at 68.2, with Mistral Large 2 ahead by 15.8 points. The largest visible gap is 25 points on HumanEval, 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 Large 2, multimodal input: Mistral Large 2, function calling: Mistral Large 2, tool use: Mistral Large 2, and structured outputs: Mistral Large 2. Both models share the core language-model surface, 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, Mistral Large 2 lists $0.48/1M input and $2.40/1M output tokens on the cheapest tracked provider, while Phi-3 Mini 4k lists $0.05/1M input and $0.25/1M output tokens on the cheapest tracked provider. A 70/30 input-output blend puts Phi-3 Mini 4k lower by about $0.95 per million blended tokens. Availability is 4 providers versus 4, so concentration risk also matters.
Choose Mistral Large 2 when long-context analysis and larger context windows are central to the workload. Choose Phi-3 Mini 4k when provider fit and lower input-token cost 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, Mistral Large 2 or Phi-3 Mini 4k?
Mistral Large 2 supports 128k tokens, while Phi-3 Mini 4k supports 4k tokens. That gap matters most for long documents, large codebases, retrieval-heavy agents, and conversations where earlier context must remain visible.
Which is cheaper, Mistral Large 2 or Phi-3 Mini 4k?
Phi-3 Mini 4k is cheaper on tracked token pricing. Mistral Large 2 costs $0.48/1M input and $2.40/1M output tokens. Phi-3 Mini 4k costs $0.05/1M input and $0.25/1M output tokens. Provider discounts or batch pricing can still change the final bill.
Is Mistral Large 2 or Phi-3 Mini 4k open source?
Mistral Large 2 is listed under Mistral License. Phi-3 Mini 4k is listed under MIT. 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, Mistral Large 2 or Phi-3 Mini 4k?
Mistral Large 2 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, Mistral Large 2 or Phi-3 Mini 4k?
Mistral Large 2 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 Mistral Large 2 and Phi-3 Mini 4k?
Mistral Large 2 is available on OpenRouter, IBM watsonx, AWS Bedrock, and Mistral AI Studio. Phi-3 Mini 4k is available on Microsoft Foundry, NVIDIA NIM, Baseten API, and Replicate API. Provider coverage can affect latency, region availability, compliance posture, and fallback options.
Continue comparing
Last reviewed: 2026-05-16. Data sourced from public model cards and provider documentation.