ZMIME
Comparison · 2 models · Updated Nov 2, 2026

Baichuan M2 32B vs Phi-4-multimodal-instruct

Phi-4-multimodal-instruct comes out ahead, 72 to 58 on our weighted score, though Baichuan M2 32B is 13% cheaper per token.

  1. Baichuan

    Baichuan M2 32B

    Released Aug 13, 2025

    58/100
    • ECI—
    • Price$0.07 / $0.07
    • Context131K
    Full specs Remove Baichuan M2 32B
  2. Our pick

    Microsoft

    Phi-4-multimodal-instruct

    Released Feb 26, 2025

    72/100
    • ECI—
    • Price$0.07 / $0.11
    • Context131K
    Full specs Remove Phi-4-multimodal-instruct

  3. Add a model

    Make it a three-way comparison.

01 — Verdict

Phi-4-multimodal-instruct is our pick

Phi-4-multimodal-instruct is the better all-round choice, scoring 72/100 against Baichuan M2 32B (58). It leads on inputs & features. Baichuan M2 32B wins on price. The score weighs price 50%, inputs & features 30%, context window 20%. None of the shared benchmarks cover every model here yet, so capability is left out of this verdict.

  • CapabilityNot enough dataNo independent benchmark covers every model here yet
  • Lowest priceBaichuan M2 32BBaichuan M2 32B $0.07 · Phi-4-multimodal-instruct $0.08 per 1M tokens (3:1 blend)
  • Longest contextAbout the sameBaichuan M2 32B 131,072 · Phi-4-multimodal-instruct 131,072 tokens
  • Widest inputsPhi-4-multimodal-instructBaichuan M2 32B: Text · Phi-4-multimodal-instruct: Text, Images, Audio
  • Self-hostingAll open weightsEvery model here can be downloaded and run on your own hardware
How the score is built
MeasureWeightBaichuan M2 32BPhi-4-multimodal-instruct
Price50%10098
Inputs & features30%1060
Context window20%2525
Overall100%58/10072/100

Left out because at least one model lacks the data: capability. The remaining weights were rescaled.

02 — Side by side

Every spec in one table

Highlighted cells lead their row. Dashes mean the data is not published.

Baichuan M2 32B vs Phi-4-multimodal-instruct specifications side by side
SpecificationBaichuan M2 32BBaichuanPhi-4-multimodal-instructMicrosoft
Capability
Capabilities Index (ECI)——
ECI rank——
Price per million tokens
Input$0.07$0.07
Output$0.07 (best)$0.11
Cached input——
Blended (3:1)$0.07 (best)$0.08
Long-context rateSame rateSame rate
Price sourceMedian of 1 providersMedian of 1 providers
Limits
Context window131,072 tokens131,072 tokens
Max output131,072 tokens131,072 tokens
Inputs and features
TextYesYes
ImagesNoYes
PDFsNoNo
AudioNoYes
VideoNoNo
ReasoningYesNo
Tool callingNoYes
Structured outputNoNo
Availability
WeightsOpenApache-2.0OpenMIT
API model ID——
API providers11
ReleasedAug 13, 2025Feb 26, 2025
Knowledge cutoff—Jun 2024
03 — Cost

What would a month cost?

Enter your expected volume in millions of tokens. List prices only; caching and batch discounts would lower these.

  • Baichuan M2 32B$0.84
  • Phi-4-multimodal-instruct$0.92
04 — Questions

Which should you choose?

Which is better: Baichuan M2 32B or Phi-4-multimodal-instruct?

Phi-4-multimodal-instruct is the better all-round choice, scoring 72/100 against Baichuan M2 32B (58). It leads on inputs & features. Baichuan M2 32B wins on price. The score weighs price 50%, inputs & features 30%, context window 20%. None of the shared benchmarks cover every model here yet, so capability is left out of this verdict.

Which is cheaper, Baichuan M2 32B or Phi-4-multimodal-instruct?

Baichuan M2 32B is cheaper at $0.07 input / $0.07 output per million tokens (median across 1 API provider). Phi-4-multimodal-instruct costs $0.07 input / $0.11 output per million tokens (median across 1 API provider). At a typical mix of three input tokens to one output token, that is $0.07 per million tokens for Baichuan M2 32B versus $0.08 for Phi-4-multimodal-instruct (1.1× as much).

Which scores higher on benchmarks?

There is no independent benchmark that covers both models yet. Baichuan M2 32B has not been scored yet and Phi-4-multimodal-instruct has not been scored yet.

Which is better for coding?

There are no published SWE-bench Verified results for Baichuan M2 32B and Phi-4-multimodal-instruct yet, so there is no like-for-like coding score. Test both on a sample of your own tasks. Note that Baichuan M2 32B does not support tool calling, which most coding agents need.

Which has the bigger context window?

Baichuan M2 32B and Phi-4-multimodal-instruct share the same 131,072-token context window. Maximum output per response: Baichuan M2 32B up to 131,072, Phi-4-multimodal-instruct up to 131,072 tokens.

Which can read images, PDFs, audio or video?

Baichuan M2 32B accepts text; Phi-4-multimodal-instruct accepts text, images and audio. Phi-4-multimodal-instruct handles the widest range of inputs.

Are any of these open source?

Yes, both publish their weights (Apache-2.0 and MIT), so you can self-host them.

Which is newer?

Baichuan M2 32B is the newest, released Aug 13, 2025. Phi-4-multimodal-instruct came out Feb 26, 2025. Knowledge cutoff: Phi-4-multimodal-instruct Jun 2024.

How do you decide the winner?

Each model gets a 0–100 score on capability (50%, independent benchmark results); price (25%, blended price per million tokens (3 input : 1 output), log scale); inputs & features (15%, image, PDF, audio and video input, tool calling, structured output and reasoning); context window (10%, maximum tokens per request, log scale). Dimensions missing for any model are dropped and the remaining weights rescaled, so every model is judged on the same evidence. Specs and prices come from public model listings and the labs’ own API pages; capability scores come from independent benchmark runs. Data updated Nov 2, 2026.

05 — Keep comparing

Related comparisons