DeepSeek V3.2 vs Mistral Small 3 (Comparative Analysis)
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Comparative Analysis: DeepSeek V3.2 vs. Mistral Small 3
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Overview
Mistral Small 3 was released 10 months before DeepSeek V3.2.
 DeepSeek V3.2 |  Mistral Small 3 | |
|---|---|---|
Model Provider The organization behind this AI's development | DeepSeek | Mistral |
Input Context Window Maximum input tokens this model can process at once | 163.8K tokens | 32.8K tokens |
Output Token Limit Maximum output tokens this model can generate at once | 65.5K tokens | 16.4K tokens |
Release Date When this model first became publicly available | December 1, 2025 7 months ago December 1st, 2025 | January 30, 2025 1 year ago January 30th, 2025 |
Knowledge Cutoff Latest training-data date reported by the provider | Not reported | October 31, 2023 |
Capabilities & Features
Compare supported features, modalities, and advanced capabilities
DeepSeek V3.2 | Mistral Small 3 | |
|---|---|---|
Input Types Supported input formats | 📝Text | 📝Text |
Reasoning Controls Defaults and configurable reasoning effort | Optional | Not reported |
Output Types Supported output formats | 📝Text | 📝Text |
Tokenizer Text encoding system | DeepSeek | Mistral |
Key Features Advanced capabilities | ✓Function Calling✓Structured Output✓Reasoning ModeContent Moderation | Function Calling✓Structured OutputReasoning ModeContent Moderation |
Open Source Model availability | Available on HuggingFace → | Available on HuggingFace → |
Pricing
DeepSeek V3.2 is roughly 5.4x more expensive compared to Mistral Small 3 for input tokens and roughly 5.0x more expensive for output tokens.
| DeepSeek V3.2 | Mistral Small 3 | |
|---|---|---|
Input Token Cost Cost per million input tokens | $0.27 per million tokens | $0.05 per million tokens |
Output Token Cost Cost per million output tokens | $0.40 per million tokens | $0.08 per million tokens |
Cache Read Cost Cost to reuse cached input tokens | $0.13 per million tokens | Not specified |
Benchmarks
Compare relevant benchmarks between DeepSeek V3.2 and Mistral Small 3.
| DeepSeek V3.2 | Mistral Small 3 | |
|---|---|---|
Intelligence Index Overall model quality across independent evaluations | 32 (Artificial Analysis index; higher is better) | Benchmark not available. |
Coding Index Programming performance across independent evaluations | 44.2 (Artificial Analysis index; higher is better) | Benchmark not available. |
Agentic Index Ability to complete multi-step agentic tasks | 18.3 (Artificial Analysis index; higher is better) | Benchmark not available. |
Best Design Arena Score Highest human-preference Elo score across design arenas | 1,199 Elo (#55 in Website (50.2% win rate)) | Benchmark not available. |
At a Glance
Quick overview of what makes DeepSeek V3.2 and Mistral Small 3 unique.
DeepSeek V3.2 by DeepSeek can use external tools and APIs, offers advanced reasoning, generates structured data. It can handle standard conversations with its 163.8K token context window. Very affordable at $0.27/M input and $0.40/M output tokens. Released December 1st, 2025.Mistral Small 3 by Mistral generates structured data. It can handle standard conversations with its 32.8K token context window. Very affordable at $0.05/M input and $0.08/M output tokens. Released January 30th, 2025.Explore More Comparisons
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Models optimized for creative writing
📢Marketing
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Technical analysis and explanations
🔬Science
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