Mistral Medium 3.5 vs Phi-4 Mini Flash Reasoning
Mistral Medium 3.5 (2026) and Phi-4 Mini Flash Reasoning (2025) are frontier-tier reasoning models from MistralAI and Microsoft Research. Mistral Medium 3.5 ships a 262k-token context window, while Phi-4 Mini Flash Reasoning ships a 128k-token context window. This comparison covers specs, pricing, API access, capabilities, benchmarks, input and output token costs, and production fit for coding and agent workloads. It focuses on practical selection signals rather than broad model-family marketing.
Mistral Medium 3.5 is safer overall; choose Phi-4 Mini Flash Reasoning when provider fit matters.
Decision scorecard
Local evidence first| Signal | Mistral Medium 3.5 | Phi-4 Mini Flash Reasoning |
|---|---|---|
| Best for | reasoning-heavy apps, multimodal apps, and tool-calling agents | reasoning-heavy apps |
| Decision fit | Coding, RAG, and Agents | Long context |
| Context window | 262k | 128k |
| Cheapest output | $7.50/1M tokens | - |
| Provider routes | 3 tracked | 1 tracked |
| Shared benchmarks | 0 shared | 0 shared |
Decision tradeoffs
- Mistral Medium 3.5 has the larger context window for long prompts, retrieval packs, or transcript analysis.
- Mistral Medium 3.5 has broader tracked provider coverage for fallback and route flexibility.
- Mistral Medium 3.5 uniquely exposes Vision, Multimodal, and JSON / Tool use in local model data.
- Local decision data tags Mistral Medium 3.5 for Coding, RAG, and Agents.
- Local decision data tags Phi-4 Mini Flash Reasoning for Long context.
Monthly cost at traffic
Estimate token spend from the cheapest tracked input and output route or tier on this page.
Mistral Medium 3.5
$3,075
Cheapest tracked route/tier: Mistral AI Studio
Phi-4 Mini Flash Reasoning
Unavailable
No complete token price in local provider data
Cost delta unavailable until both models have sourced input and output token prices.
Switch friction
- No overlapping tracked provider route is sourced for Mistral Medium 3.5 and Phi-4 Mini Flash Reasoning; plan for SDK, billing, or endpoint changes.
- Check replacement coverage for Vision, Multimodal, and JSON / Tool use before moving production traffic.
- No overlapping tracked provider route is sourced for Phi-4 Mini Flash Reasoning and Mistral Medium 3.5; plan for SDK, billing, or endpoint changes.
- Mistral Medium 3.5 adds Vision, Multimodal, and JSON / Tool use in local capability data.
Specs
| Specification | ||
|---|---|---|
| Released | 2026-04-29 | 2025-12-01 |
| Context window | 262k | 128k |
| Parameters | 128B | 3.8B |
| Architecture | Decoder Only | Decoder Only |
| License | Mistral Modified MIT License | MITOSI-approved |
| Openness | Open weights | Open source |
| Weights | Available | Unknown |
| Code | Unknown | Unknown |
| Commercial use | Commercial use: conditional | Commercial use: permitted |
| Knowledge cutoff | - | 2025-02 |
Pricing and availability
| Pricing attribute | Mistral Medium 3.5 | Phi-4 Mini Flash Reasoning |
|---|---|---|
| Input price | $1.50/1M tokens | - |
| Output price | $7.50/1M tokens | - |
| Providers |
Capabilities
| Capability | Mistral Medium 3.5 | Phi-4 Mini Flash Reasoning |
|---|---|---|
| Vision | Yes | No |
| Multimodal | Yes | No |
| Reasoning | Yes | Yes |
| JSON / 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
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.