LongCat-2.5-Preview vs MiniMax-M3.1-Flash-Preview vs Step 5 Preview
Step 5 Preview comes out ahead, 72 to 66 and 60 on our weighted score, though LongCat-2.5-Preview is 9% cheaper per token.
Meituan (LongCat)LongCat-2.5-Preview
60/100- ECI—
- Price$0.75 / $2.95
- Context1M
MiniMaxMiniMax-M3.1-Flash-Preview
66/100- ECI—
- Price—
- Context1M
- Our pick
StepFunStep 5 Preview
72/100- ECI—
- Price$1.00 / $2.70
- Context1M
Step 5 Preview is our pick
Step 5 Preview is the better all-round choice, scoring 72/100 against MiniMax-M3.1-Flash-Preview (66) and LongCat-2.5-Preview (60). It leads on inputs & features. The score weighs inputs & features 60%, context window 40%. 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 priceLongCat-2.5-PreviewLongCat-2.5-Preview $1.30 · Step 5 Preview $1.43 per 1M tokens (3:1 blend) · MiniMax-M3.1-Flash-Preview unpriced
- Longest contextAbout the sameLongCat-2.5-Preview 1,000,000 · MiniMax-M3.1-Flash-Preview 1,000,000 · Step 5 Preview 1,000,000 tokens
- Widest inputsMiniMax-M3.1-Flash-Preview and Step 5 PreviewLongCat-2.5-Preview: Text, Images · MiniMax-M3.1-Flash-Preview: Text, Images, Video · Step 5 Preview: Text, Images, Video
- Self-hostingNo open weightsAll three are available only through APIs
| Measure | Weight | LongCat-2.5-Preview | MiniMax-M3.1-Flash-Preview | Step 5 Preview |
|---|---|---|---|---|
| Inputs & features | 60% | 60 | 70 | 80 |
| Context window | 40% | 60 | 60 | 60 |
| Overall | 100% | 60/100 | 66/100 | 72/100 |
Left out because at least one model lacks the data: capability and price. The remaining weights were rescaled.
Every spec in one table
Highlighted cells lead their row. Dashes mean the data is not published.
| Specification | LongCat-2.5-PreviewMeituan (LongCat) | MiniMax-M3.1-Flash-PreviewMiniMax | Step 5 PreviewStepFun |
|---|---|---|---|
| Capability | |||
| Capabilities Index (ECI) | — | — | — |
| ECI rank | — | — | — |
| Price per million tokens | |||
| Input | $0.75 (best) | — | $1.00 |
| Output | $2.95 | — | $2.70 (best) |
| Cached input | — | — | $0.05 |
| Blended (3:1) | $1.30 (best) | — | $1.43 |
| Long-context rate | Same rate | — | Same rate |
| Price source | Median of 1 providers | — | Official StepFun (Global) API |
| Limits | |||
| Context window | 1,000,000 tokens | 1,000,000 tokens | 1,000,000 tokens |
| Max output | 131,072 tokens | 512,000 tokens | 1,000,000 tokens (best) |
| Inputs and features | |||
| Text | Yes | Yes | Yes |
| Images | Yes | Yes | Yes |
| PDFs | No | No | No |
| Audio | No | No | No |
| Video | No | Yes | Yes |
| Reasoning | Yes | Yes | Yeslow · medium · high |
| Tool calling | Yes | Yes | Yes |
| Structured output | No | No | Yes |
| Availability | |||
| Weights | Proprietary | Proprietary | Proprietary |
| API model ID | — | — | step-5-preview |
| API providers | 2 | — | 7 (best) |
| Released | Sep 25, 2026 | Sep 27, 2026 | Sep 16, 2026 |
| Knowledge cutoff | — | — | — |
What would a month cost?
Enter your expected volume in millions of tokens. List prices only; caching and batch discounts would lower these.
- LongCat-2.5-Preview$13.40
- MiniMax-M3.1-Flash-Preview—
- Step 5 Preview$15.40
Which should you choose?
Which is better: LongCat-2.5-Preview, MiniMax-M3.1-Flash-Preview or Step 5 Preview?
Step 5 Preview is the better all-round choice, scoring 72/100 against MiniMax-M3.1-Flash-Preview (66) and LongCat-2.5-Preview (60). It leads on inputs & features. The score weighs inputs & features 60%, context window 40%. None of the shared benchmarks cover every model here yet, so capability is left out of this verdict.
Which is cheaper, LongCat-2.5-Preview, MiniMax-M3.1-Flash-Preview or Step 5 Preview?
LongCat-2.5-Preview is cheaper at $0.75 input / $2.95 output per million tokens (median across 1 API provider). Step 5 Preview costs $1.00 input / $2.70 output per million tokens (official StepFun (Global) API price). At a typical mix of three input tokens to one output token, that is $1.30 per million tokens for LongCat-2.5-Preview versus $1.43 for Step 5 Preview (1.1× as much). MiniMax-M3.1-Flash-Preview has no published per-token price.
Which scores higher on benchmarks?
There is no independent benchmark that covers all three models yet. LongCat-2.5-Preview has not been scored yet, MiniMax-M3.1-Flash-Preview has not been scored yet and Step 5 Preview has not been scored yet.
Which is better for coding?
There are no published SWE-bench Verified results for LongCat-2.5-Preview, MiniMax-M3.1-Flash-Preview and Step 5 Preview 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?
LongCat-2.5-Preview, MiniMax-M3.1-Flash-Preview and Step 5 Preview share the same 1,000,000-token context window. Maximum output per response: LongCat-2.5-Preview up to 131,072, MiniMax-M3.1-Flash-Preview up to 512,000, Step 5 Preview up to 1,000,000 tokens.
Which can read images, PDFs, audio or video?
LongCat-2.5-Preview accepts text and images; MiniMax-M3.1-Flash-Preview accepts text, images and video; Step 5 Preview accepts text, images and video. MiniMax-M3.1-Flash-Preview handles the widest range of inputs.
Are any of these open source?
No. LongCat-2.5-Preview, MiniMax-M3.1-Flash-Preview and Step 5 Preview are proprietary and only available through APIs and apps.
Which is newer?
MiniMax-M3.1-Flash-Preview is the newest, released Sep 27, 2026. LongCat-2.5-Preview came out Sep 25, 2026; Step 5 Preview came out Sep 16, 2026.
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.
Related comparisons
- LongCat-2.5-Preview vs Hy4 previewTencent
- LongCat-2.5-Preview vs Sakana NamazuSakana AI
- LongCat-2.5-Preview vs Motif 3Motif Technologies
- MiniMax-M3.1-Flash-Preview vs Ling 3.1 FlashinclusionAI
- MiniMax-M3.1-Flash-Preview vs Qwen 3.8 Max PrimeAlibaba (Qwen)
- MiniMax-M3.1-Flash-Preview vs MiMo-V2.6-FlashXiaomi
