Hy3 vs Mistral Small 4 vs Qwen3.8 Flash
Qwen3.8 Flash comes out ahead, 76 to 64 and 58 on our weighted score, and it is the cheaper option too.
TencentHy3
58/100- ECI—
- Price$0.132 / $0.53
- Context256K
Mistral AIMistral Small 4
64/100- ECI—
- Price$0.15 / $0.60
- Context256K
- Our pick
Alibaba (Qwen)Qwen3.8 Flash
76/100- ECI—
- Price$0.15 / $0.47
- Context1M
Qwen3.8 Flash is our pick
Qwen3.8 Flash is the better all-round choice, scoring 76/100 against Mistral Small 4 (64) and Hy3 (58). It leads on inputs & features and context window. 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 priceQwen3.8 FlashQwen3.8 Flash $0.23 · Hy3 $0.232 · Mistral Small 4 $0.263 per 1M tokens (3:1 blend)
- Longest contextQwen3.8 FlashQwen3.8 Flash 1,000,000 · Hy3 256,000 · Mistral Small 4 256,000 tokens
- Widest inputsQwen3.8 FlashHy3: Text · Mistral Small 4: Text, Images · Qwen3.8 Flash: Text, Images, Video
- Self-hostingHy3 and Mistral Small 4Publishes downloadable weights
| Measure | Weight | Hy3 | Mistral Small 4 | Qwen3.8 Flash |
|---|---|---|---|---|
| Price | 50% | 80 | 77 | 80 |
| Inputs & features | 30% | 35 | 60 | 80 |
| Context window | 20% | 36 | 36 | 60 |
| Overall | 100% | 58/100 | 64/100 | 76/100 |
Left out because at least one model lacks the data: capability. The remaining weights were rescaled.
Every spec in one table
Highlighted cells lead their row. Dashes mean the data is not published.
| Specification | Hy3Tencent | Mistral Small 4Mistral AI | Qwen3.8 FlashAlibaba (Qwen) |
|---|---|---|---|
| Capability | |||
| Capabilities Index (ECI) | — | — | — |
| ECI rank | — | — | — |
| Price per million tokens | |||
| Input | $0.132 (best) | $0.15 | $0.15 |
| Output | $0.53 | $0.60 | $0.47 (best) |
| Cached input | — | $0.015 (best) | $0.016 |
| Blended (3:1) | $0.232 | $0.263 | $0.23 (best) |
| Long-context rate | Same rate | Same rate | Same rate |
| Price source | Median of 15 providers | Official Mistral API | Official Alibaba API |
| Limits | |||
| Context window | 256,000 tokens | 256,000 tokens | 1,000,000 tokens (best) |
| Max output | 128,000 tokens | 256,000 tokens (best) | 131,072 tokens |
| Inputs and features | |||
| Text | Yes | Yes | Yes |
| Images | No | Yes | Yes |
| PDFs | No | No | No |
| Audio | No | No | No |
| Video | No | No | Yes |
| Reasoning | Yeshigh | Yeshigh | Yeslow · medium · xhigh |
| Tool calling | Yes | Yes | Yes |
| Structured output | No | No | Yes |
| Availability | |||
| Weights | Open | Open | Proprietary |
| API model ID | hy3 | mistral-small-2603 | qwen3.8-flash |
| API providers | 18 | 16 | 23 (best) |
| Released | Jul 6, 2026 | Mar 16, 2026 | Aug 26, 2026 |
| Knowledge cutoff | — | Jun 2025 | — |
What would a month cost?
Enter your expected volume in millions of tokens. List prices only; caching and batch discounts would lower these.
- Hy3$2.38
- Mistral Small 4$2.70
- Qwen3.8 Flash$2.44
Which should you choose?
Which is better: Hy3, Mistral Small 4 or Qwen3.8 Flash?
Qwen3.8 Flash is the better all-round choice, scoring 76/100 against Mistral Small 4 (64) and Hy3 (58). It leads on inputs & features and context window. 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, Hy3, Mistral Small 4 or Qwen3.8 Flash?
Qwen3.8 Flash is cheaper at $0.15 input / $0.47 output per million tokens (official Alibaba API price). Hy3 costs $0.132 input / $0.53 output per million tokens (median across 15 API providers; free on Tencent TokenHub); Mistral Small 4 costs $0.15 input / $0.60 output per million tokens (official Mistral API price). At a typical mix of three input tokens to one output token, that is $0.23 per million tokens for Qwen3.8 Flash versus $0.232 for Hy3 (1× as much) and $0.263 for Mistral Small 4 (1.1× as much).
Which scores higher on benchmarks?
There is no independent benchmark that covers all three models yet. Hy3 has not been scored yet, Mistral Small 4 has not been scored yet and Qwen3.8 Flash has not been scored yet.
Which is better for coding?
There are no published SWE-bench Verified results for Hy3, Mistral Small 4 and Qwen3.8 Flash yet, so there is no like-for-like coding score. Test both on a sample of your own tasks. All three support tool calling for agent workflows.
Which has the bigger context window?
Qwen3.8 Flash has the largest context window at 1,000,000 tokens, against 256,000 for Hy3 and 256,000 for Mistral Small 4. Maximum output per response: Hy3 up to 128,000, Mistral Small 4 up to 256,000, Qwen3.8 Flash up to 131,072 tokens.
Which can read images, PDFs, audio or video?
Hy3 accepts text; Mistral Small 4 accepts text and images; Qwen3.8 Flash accepts text, images and video. Qwen3.8 Flash handles the widest range of inputs.
Are any of these open source?
Hy3 and Mistral Small 4 publishes its weights and can be self-hosted; Qwen3.8 Flash is proprietary.
Which is newer?
Qwen3.8 Flash is the newest, released Aug 26, 2026. Hy3 came out Jul 6, 2026; Mistral Small 4 came out Mar 16, 2026. Knowledge cutoff: Mistral Small 4 Jun 2025.
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.
