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DeepSeek V3.2 vs Mistral Large 4

DeepSeek V3.2

DeepSeek

83#73
vs
Mistral Large 4

Mistral AI

68#132
Signal-by-Signal Comparison
SignalDeepSeek V3.2DeltaMistral Large 4
Capabilities
67
-17
83
Benchmarks
87
+19
68
Pricing
100
+2
98
Context window size
83
-13
96
Recency
71
-29
100
Output Capacity
83
-4
87
Overall Result
2 wins
of 6
4 wins
Mistral Large 4 wins 4 of 6 signals

Score History

Score History (38 data points)
DeepSeek V3.2Mistral Large 4
DeepSeek V3.2

83.4

current score

Leader

DeepSeek V3.2

right now

Mistral Large 4

68.3

current score

LMMarketCap.com
Interactive Price Comparison
100Kcalls/month
1,000tokens (~1,333 chars)
500tokens (~667 chars)

DeepSeek V3.2

DeepSeek

Best Value
Per request$0.000450
Daily$1.50
Monthly$45.00
Annual$540.00

Mistral Large 4

Mistral AI

Per request$0.001750
Daily$5.83
Monthly$175.00
Annual$2100.00

DeepSeek V3.2 saves you $130.00/month

That's $1560.00/year compared to Mistral Large 4 at your current usage level of 100K calls/month.

74% cheaper
Choose DeepSeek V3.2 for cost optimization

DeepSeek V3.2 pricing:
Input:$0.26/M tokens
Output:$0.38/M tokens
Mistral Large 4 pricing:
Input:$0.70/M tokens
Output:$2.10/M tokens
Winner
DeepSeek V3.2

DeepSeek

83

Composite Score

Mistral Large 4

Mistral AI

68

Composite Score

Signal-by-Signal Comparison
MetricDeepSeek V3.2Mistral Large 4Winner
Overall Score
83
68
DeepSeek V3.2
Rank#73#132
DeepSeek V3.2
Quality Rank#73#132
DeepSeek V3.2
Adoption Rank#73#132
DeepSeek V3.2
Parameters------
Context Window164K1049K
Mistral Large 4
Pricing$0.26/$0.38/M$0.70/$2.10/M--
Signal Scores
Capabilities
67
83
Mistral Large 4
Benchmarks
87
68
DeepSeek V3.2
Pricing
100
98
DeepSeek V3.2
Context window size
83
96
Mistral Large 4
Recency
71
100
Mistral Large 4
Output Capacity
83
87
Mistral Large 4
Benchmark Head-to-Head(10 benchmarks)
DeepSeek V3.2: 4Mistral Large: 0
DeepSeek V3.2
Mistral Large
Normalized 0-100%
MMLU
88.5%84.7%
MMLU-Pro
85%69.4%
GPQA Diamond
85.7%52.5%
MATH-500
-76%
HumanEval
-92%
IFEval
-86.5%
BBH
-80%
Arena Elo
14251280
LiveBench
-57.1%
BigCodeBench
-30%
Benchmark Interpretation

Our score (0-100) is driven by benchmark performance (90%) from Arena Elo ratings, MMLU, GPQA, HumanEval, SWE-bench, and 15+ standardized evaluations. Capabilities and context window serve as tiebreakers (10%). Learn more about our methodology.

DeepSeek V3.2Strong Performer

Scores 83/100 (rank #73), placing it in the top 75% of all 290 models tracked.

Raw Quality0/100
Cost Efficiency0/100
Speed0/100
Mistral Large 4Competitive

Scores 68/100 (rank #132), placing it in the top 55% of all 290 models tracked.

Raw Quality0/100
Cost Efficiency0/100
Speed0/100

DeepSeek V3.2 has a 15-point advantage, which typically translates to noticeably stronger performance on complex reasoning, code generation, and multi-step tasks.

When to Use Each Model

Choose DeepSeek V3.2 when you need:

  • High-volume production workloads where API costs must be minimized
  • Step-by-step reasoning and chain-of-thought problem solving
  • Self-hosted deployments where you need full control over the model

Choose Mistral Large 4 when you need:

  • Processing long documents or large codebases (1049K token context)
  • Multimodal workflows that require image understanding
  • Step-by-step reasoning and chain-of-thought problem solving
  • Self-hosted deployments where you need full control over the model
Cost-Performance Analysis
DeepSeek V3.2Best Value
Input cost$0.26/M tokens
Output cost$0.38/M tokens
Cost per quality point$0.008
Est. monthly (1M tokens/day)$9.60
Mistral Large 4
Input cost$0.70/M tokens
Output cost$2.10/M tokens
Cost per quality point$0.041
Est. monthly (1M tokens/day)$42.00

DeepSeek V3.2 offers 77% better value per quality point. At 1M tokens/day, you'd spend $9.60/month with DeepSeek V3.2 vs $42.00/month with Mistral Large 4 - a $32.40 monthly difference.

Latency & Speed
DeepSeek V3.2Faster
Speed score0/100
Mistral Large 4
Speed score0/100

Both models have comparable response speeds. For most applications, the latency difference is negligible.

When latency matters most: Interactive chatbots, IDE code completion, real-time translation, and user-facing applications where response time directly impacts experience. For batch processing, background summarization, or offline analysis, latency is less critical.

Example Use Cases

Code generation & review

Based on overall model capabilities and architecture for coding tasks like generating functions, debugging, and refactoring

DeepSeek V3.2

Customer support chatbot

Suitable for user-facing chat with competitive response times. DeepSeek V3.2 also offers lower per-token costs for high-volume support

DeepSeek V3.2

Long document analysis

Larger context window (1049K tokens) can process longer documents, contracts, and research papers in a single pass

Mistral Large 4

Batch data extraction

Lower output pricing ($0.38/M) reduces costs when processing thousands of records daily

DeepSeek V3.2

Creative writing & content

Higher overall composite score (83/100) correlates with better nuance, coherence, and style in long-form content

DeepSeek V3.2

Image understanding & OCR

Supports vision input - can analyze screenshots, diagrams, photos, and scanned documents directly

Mistral Large 4
Which Should You Choose?
Our recommendation:
DeepSeek V3.2

DeepSeek V3.2 clearly outperforms Mistral Large 4 with a significant 15.100000000000009-point lead. For most general use cases, DeepSeek V3.2 is the stronger choice. However, Mistral Large 4 may still excel in niche scenarios.

DeepSeek V3.2
Recommended

by DeepSeek

  • Choose for Quality - Marginally better benchmark scores; both are excellent
  • Choose for Cost - 77% lower pricing; better value at scale
  • Choose for Reliability - Higher uptime and faster response speeds
  • Choose for Prototyping - Stronger community support and better developer experience
  • Choose for Production - Wider enterprise adoption and proven at scale

by Mistral AI

Consider for specialized use cases.

Capability Comparison
CapabilityDeepSeek V3.2Mistral Large 4
Vision (Image Input)differs
Function Calling
Streaming
JSON Mode
Reasoning
Web Search
Image Output
Monthly Cost Calculator
1,000tokens (600 in / 400 out)
100requests/day (3,000/month)

DeepSeek V3.2

DeepSeek

Best Value
$0.9240
estimated monthly cost

Mistral Large 4

Mistral AI

$3.78
estimated monthly cost

DeepSeek V3.2 saves you $2.86/month

That's 76% cheaper than Mistral Large 4 at 1,000 tokens/request and 100 requests/day.

Assumes 60% input / 40% output token ratio per request. Actual costs may vary based on your usage pattern.

Parameters & Context
ParameterDeepSeek V3.2Mistral Large 4
Context Window164K1.0M
Max Output Tokens147,456262,144
Open SourceYesYes
CreatedDec 1, 2025Oct 6, 2026
Last updated: 2m ago

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DeepSeek V3.2 vs Mistral Large 4 (2026) | LM Market Cap