GPT-5.4 nano vs o3 vs MiniMax-M2.7
GPT-5.4 nano comes out ahead, 68 to 61 and 58 on our weighted score, and it is the cheaper option too.
- Our pick
OpenAIGPT-5.4 nano
68/100- ECI145.8
- Price$0.20 / $1.25
- Context400K
- OpenAI
o3
58/100- ECI146.9
- Price$2.00 / $8.00
- Context200K
MiniMaxMiniMax-M2.7
61/100- ECI145.9
- Price$0.30 / $1.20
- Context205K
GPT-5.4 nano is our pick
GPT-5.4 nano is the better all-round choice, scoring 68/100 against MiniMax-M2.7 (61) and o3 (58). It leads on price and context window. o3 wins on inputs & features. The score weighs capability 50%, price 25%, inputs & features 15%, context window 10%.
- Capabilityo3Capabilities Index (ECI): o3 146.9 · MiniMax-M2.7 145.9 · GPT-5.4 nano 145.8
- Lowest priceGPT-5.4 nanoGPT-5.4 nano $0.463 · MiniMax-M2.7 $0.525 · o3 $3.50 per 1M tokens (3:1 blend)
- Longest contextGPT-5.4 nanoGPT-5.4 nano 400,000 · MiniMax-M2.7 204,800 · o3 200,000 tokens
- Widest inputso3GPT-5.4 nano: Text, Images · o3: Text, Images, PDFs · MiniMax-M2.7: Text
- Self-hostingMiniMax-M2.7Publishes downloadable weights
| Measure | Weight | GPT-5.4 nano | o3 | MiniMax-M2.7 |
|---|---|---|---|---|
| CapabilityCapabilities Index (ECI) | 50% | 73 | 74 | 73 |
| Price | 25% | 66 | 24 | 63 |
| Inputs & features | 15% | 70 | 80 | 35 |
| Context window | 10% | 44 | 32 | 32 |
| Overall | 100% | 68/100 | 58/100 | 61/100 |
Every spec in one table
Highlighted cells lead their row. Dashes mean the data is not published.
| Specification | GPT-5.4 nanoOpenAI | o3OpenAI | MiniMax-M2.7MiniMax |
|---|---|---|---|
| Capability | |||
| Capabilities Index (ECI) | 145.8 | 146.9 (best) | 145.9 |
| ECI rank | #75 of 148 | #63 of 148 (best) | #73 of 148 |
| GPQA DiamondGraduate-level science questions | 78.5% | 81.8% (best) | — |
| FrontierMath Tiers 1–3Research-level mathematics | 44.9% (best) | 33.3% | — |
| OTIS Mock AIME 2024–2025Competition mathematics | 87.8% (best) | 84.4% | — |
| SWE-bench VerifiedFixing real GitHub issues | — | 62.3% | — |
| SimpleQA VerifiedShort factual questions | 11.7% | 49.4% (best) | — |
| Price per million tokens | |||
| Input | $0.20 (best) | $2.00 | $0.30 |
| Output | $1.25 | $8.00 | $1.20 (best) |
| Cached input | $0.02 (best) | $0.50 | $0.06 |
| Blended (3:1) | $0.463 (best) | $3.50 | $0.525 |
| Long-context rate | Same rate | Same rate | Same rate |
| Price source | Official OpenAI API | Official OpenAI API | Official MiniMax (minimax.io) API |
| Limits | |||
| Context window | 400,000 tokens (best) | 200,000 tokens | 204,800 tokens |
| Max output | 128,000 tokens | 100,000 tokens | 131,072 tokens (best) |
| Inputs and features | |||
| Text | Yes | Yes | Yes |
| Images | Yes | Yes | No |
| PDFs | No | Yes | No |
| Audio | No | No | No |
| Video | No | No | No |
| Reasoning | Yeslow · medium · high · xhigh | Yeslow · medium · high | Yes |
| Tool calling | Yes | Yes | Yes |
| Structured output | Yes | Yes | No |
| Availability | |||
| Weights | Proprietary | Proprietary | Open |
| API model ID | gpt-5.4-nano | o3 | MiniMax-M2.7 |
| API providers | 26 | 18 | 29 (best) |
| Released | Mar 17, 2026 | Apr 16, 2025 | Mar 18, 2026 |
| Knowledge cutoff | Aug 31, 2025 | May 2024 | — |
What would a month cost?
Enter your expected volume in millions of tokens. List prices only; caching and batch discounts would lower these.
- GPT-5.4 nano$4.50
- o3$36.00
- MiniMax-M2.7$5.40
Which should you choose?
Which is better: GPT-5.4 nano, o3 or MiniMax-M2.7?
GPT-5.4 nano is the better all-round choice, scoring 68/100 against MiniMax-M2.7 (61) and o3 (58). It leads on price and context window. o3 wins on inputs & features. The score weighs capability 50%, price 25%, inputs & features 15%, context window 10%.
Which is cheaper, GPT-5.4 nano, o3 or MiniMax-M2.7?
GPT-5.4 nano is cheaper at $0.20 input / $1.25 output per million tokens (official OpenAI API price). MiniMax-M2.7 costs $0.30 input / $1.20 output per million tokens (official MiniMax (minimax.io) API price); o3 costs $2.00 input / $8.00 output per million tokens (official OpenAI API price). At a typical mix of three input tokens to one output token, that is $0.463 per million tokens for GPT-5.4 nano versus $0.525 for MiniMax-M2.7 (1.1× as much) and $3.50 for o3 (7.6× as much).
Which scores higher on benchmarks?
o3 scores higher on the Capabilities Index (ECI): o3 146.9 (#63 of 148), MiniMax-M2.7 145.9 (#73 of 148) and GPT-5.4 nano 145.8 (#75 of 148). The confidence ranges of the top two overlap (144.9–148.6 vs 138.2–148.0), so treat the gap as small.
Which is better for coding?
There are no published SWE-bench Verified results for GPT-5.4 nano and MiniMax-M2.7 yet, so there is no like-for-like coding score. On overall capability, o3 leads, which tends to carry over to coding, but test on your own codebase. All three support tool calling for agent workflows.
Which has the bigger context window?
GPT-5.4 nano has the largest context window at 400,000 tokens, against 204,800 for MiniMax-M2.7 and 200,000 for o3. Maximum output per response: GPT-5.4 nano up to 128,000, o3 up to 100,000, MiniMax-M2.7 up to 131,072 tokens.
Which can read images, PDFs, audio or video?
GPT-5.4 nano accepts text and images; o3 accepts text, images and PDFs; MiniMax-M2.7 accepts text. o3 handles the widest range of inputs.
Are any of these open source?
MiniMax-M2.7 publishes its weights and can be self-hosted; GPT-5.4 nano and o3 is proprietary.
Which is newer?
MiniMax-M2.7 is the newest, released Mar 18, 2026. GPT-5.4 nano came out Mar 17, 2026; o3 came out Apr 16, 2025. Knowledge cutoff: GPT-5.4 nano Aug 31, 2025, o3 May 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 Oct 4, 2026.
