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Mistral Small 3.2 24B vs Fugu Max

Mistral Small 3.2 24B

Mistral AI

40#375
vs
Fugu Max

sakana

40#246
Signal-by-Signal Comparison
SignalMistral Small 3.2 24BDeltaFugu Max
Capabilities
67
-33
100
Pricing
100
+6
94
Context window size
86
-9
95
Recency
49
-51
100
Output Capacity
67
-14
82
Overall Result
1 wins
of 5
4 wins
Fugu Max wins 4 of 5 signals

Score History

Score History (32 data points)
Mistral Small 3.2 24BFugu Max
Mistral Small 3.2 24B

40

current score

Leader

Tied

right now

Fugu Max

40

current score

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

Mistral Small 3.2 24B

Mistral AI

Best Value
Per request$0.000219
Daily$0.73
Monthly$21.88
Annual$262.50

Fugu Max

sakana

Per request$0.005000
Daily$16.67
Monthly$500.00
Annual$6000.00

Mistral Small 3.2 24B saves you $478.13/month

That's $5737.50/year compared to Fugu Max at your current usage level of 100K calls/month.

96% cheaper
Choose Mistral Small 3.2 24B for cost optimization

Mistral Small 3.2 24B pricing:
Input:$0.09/M tokens
Output:$0.25/M tokens
Fugu Max pricing:
Input:$2.00/M tokens
Output:$6.00/M tokens
Tie
Mistral Small 3.2 24B

Mistral AI

40

Composite Score

Tie
Fugu Max

sakana

40

Composite Score

Signal-by-Signal Comparison
MetricMistral Small 3.2 24BFugu MaxWinner
Overall Score
40
40
--
Rank#375#246
Fugu Max
Quality Rank#375#246
Fugu Max
Adoption Rank#375#246
Fugu Max
Parameters24B----
Context Window256K1000K
Fugu Max
Pricing$0.09/$0.25/M$2.00/$6.00/M--
Signal Scores
Capabilities
67
100
Fugu Max
Pricing
100
94
Mistral Small 3.2 24B
Context window size
86
95
Fugu Max
Recency
49
100
Fugu Max
Output Capacity
67
82
Fugu Max
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.

Mistral Small 3.2 24BEntry Level

Scores 40/100 (rank #375), placing it in the top -29% of all 290 models tracked.

Raw Quality0/100
Cost Efficiency0/100
Speed0/100
Fugu MaxEntry Level

Scores 40/100 (rank #246), placing it in the top 16% of all 290 models tracked.

Raw Quality0/100
Cost Efficiency0/100
Speed0/100

With only a 0-point gap, these models are in the same performance tier. The practical difference in output quality is minimal - your choice should depend on pricing, latency requirements, and specific feature needs.

When to Use Each Model

Choose Mistral Small 3.2 24B when you need:

  • High-volume production workloads where API costs must be minimized
  • Self-hosted deployments where you need full control over the model

Choose Fugu Max when you need:

  • Processing long documents or large codebases (1000K token context)
  • Step-by-step reasoning and chain-of-thought problem solving
Cost-Performance Analysis
Mistral Small 3.2 24BBest Value
Input cost$0.09/M tokens
Output cost$0.25/M tokens
Cost per quality point$0.009
Est. monthly (1M tokens/day)$5.16
Fugu Max
Input cost$2.00/M tokens
Output cost$6.00/M tokens
Cost per quality point$0.200
Est. monthly (1M tokens/day)$120.00

Mistral Small 3.2 24B offers 96% better value per quality point. At 1M tokens/day, you'd spend $5.16/month with Mistral Small 3.2 24B vs $120.00/month with Fugu Max - a $114.84 monthly difference.

Latency & Speed
Mistral Small 3.2 24BFaster
Speed score0/100
Fugu Max
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

Mistral Small 3.2 24B

Customer support chatbot

Suitable for user-facing chat with competitive response times. Mistral Small 3.2 24B also offers lower per-token costs for high-volume support

Mistral Small 3.2 24B

Long document analysis

Larger context window (1000K tokens) can process longer documents, contracts, and research papers in a single pass

Fugu Max

Batch data extraction

Lower output pricing ($0.25/M) reduces costs when processing thousands of records daily

Mistral Small 3.2 24B

Creative writing & content

Higher overall composite score (40/100) correlates with better nuance, coherence, and style in long-form content

Mistral Small 3.2 24B

Image understanding & OCR

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

Mistral Small 3.2 24B
Which Should You Choose?
Our recommendation:
Mistral Small 3.2 24B

Mistral Small 3.2 24B and Fugu Max are extremely close in overall performance (only 0 points apart). Your best choice depends entirely on which specific strengths matter most for your use case.

by Mistral AI

  • Choose for Quality - Marginally better benchmark scores; both are excellent
  • Choose for Cost - 96% 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 sakana

Consider for specialized use cases.

Capability Comparison
CapabilityMistral Small 3.2 24BFugu Max
Vision (Image Input)
Function Calling
Streaming
JSON Mode
Reasoningdiffers
Web Searchdiffers
Image Output
Monthly Cost Calculator
1,000tokens (600 in / 400 out)
100requests/day (3,000/month)

Mistral Small 3.2 24B

Mistral AI

Best Value
$0.4688
estimated monthly cost

Fugu Max

sakana

$10.80
estimated monthly cost

Mistral Small 3.2 24B saves you $10.33/month

That's 96% cheaper than Fugu Max 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
ParameterMistral Small 3.2 24BFugu Max
Context Window256K1M
Max Output Tokens16,384128,000
Open SourceYesNo
CreatedJun 20, 2025Sep 11, 2026
Last updated: 11m ago

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Mistral Small 3.2 24B vs Fugu Max (2026) | LM Market Cap