Mercury Edit 2 vs Mistral Small 4
Mistral Small 4 comes out ahead, 64 to 35 on our weighted score, and it is the cheaper option too.
InceptionMercury Edit 2
35/100- ECI—
- Price$0.25 / $0.75
- Context32K
- Our pick
Mistral AIMistral Small 4
64/100- ECI—
- Price$0.15 / $0.60
- Context256K
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Make it a three-way comparison.
Mistral Small 4 is our pick
Mistral Small 4 is the better all-round choice, scoring 64/100 against Mercury Edit 2 (35). It leads on price, 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 priceMistral Small 4Mistral Small 4 $0.263 · Mercury Edit 2 $0.375 per 1M tokens (3:1 blend)
- Longest contextMistral Small 4Mistral Small 4 256,000 · Mercury Edit 2 32,000 tokens
- Widest inputsMistral Small 4Mercury Edit 2: Text · Mistral Small 4: Text, Images
- Self-hostingMistral Small 4Publishes downloadable weights
| Measure | Weight | Mercury Edit 2 | Mistral Small 4 |
|---|---|---|---|
| Price | 50% | 70 | 77 |
| Inputs & features | 30% | 0 | 60 |
| Context window | 20% | 0 | 36 |
| Overall | 100% | 35/100 | 64/100 |
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 | Mercury Edit 2Inception | Mistral Small 4Mistral AI |
|---|---|---|
| Capability | ||
| Capabilities Index (ECI) | — | — |
| ECI rank | — | — |
| Price per million tokens | ||
| Input | $0.25 | $0.15 (best) |
| Output | $0.75 | $0.60 (best) |
| Cached input | $0.025 | $0.015 (best) |
| Blended (3:1) | $0.375 | $0.263 (best) |
| Long-context rate | Same rate | Same rate |
| Price source | Official Inception API | Official Mistral API |
| Limits | ||
| Context window | 32,000 tokens | 256,000 tokens (best) |
| Max output | 8,192 tokens | 256,000 tokens (best) |
| Inputs and features | ||
| Text | Yes | Yes |
| Images | No | Yes |
| PDFs | No | No |
| Audio | No | No |
| Video | No | No |
| Reasoning | No | Yeshigh |
| Tool calling | No | Yes |
| Structured output | No | No |
| Availability | ||
| Weights | Proprietary | Open |
| API model ID | mercury-edit-2 | mistral-small-2603 |
| API providers | 1 | 16 (best) |
| Released | Mar 30, 2026 | Mar 16, 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.
- Mercury Edit 2$4.00
- Mistral Small 4$2.70
Which should you choose?
Which is better: Mercury Edit 2 or Mistral Small 4?
Mistral Small 4 is the better all-round choice, scoring 64/100 against Mercury Edit 2 (35). It leads on price, 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, Mercury Edit 2 or Mistral Small 4?
Mistral Small 4 is cheaper at $0.15 input / $0.60 output per million tokens (official Mistral API price). Mercury Edit 2 costs $0.25 input / $0.75 output per million tokens (official Inception API price). At a typical mix of three input tokens to one output token, that is $0.263 per million tokens for Mistral Small 4 versus $0.375 for Mercury Edit 2 (1.4× as much).
Which scores higher on benchmarks?
There is no independent benchmark that covers both models yet. Mercury Edit 2 has not been scored yet and Mistral Small 4 has not been scored yet.
Which is better for coding?
There are no published SWE-bench Verified results for Mercury Edit 2 and Mistral Small 4 yet, so there is no like-for-like coding score. Test both on a sample of your own tasks. Note that Mercury Edit 2 does not support tool calling, which most coding agents need.
Which has the bigger context window?
Mistral Small 4 has the largest context window at 256,000 tokens, against 32,000 for Mercury Edit 2. Maximum output per response: Mercury Edit 2 up to 8,192, Mistral Small 4 up to 256,000 tokens.
Which can read images, PDFs, audio or video?
Mercury Edit 2 accepts text; Mistral Small 4 accepts text and images. Mistral Small 4 handles the widest range of inputs.
Are any of these open source?
Mistral Small 4 publishes its weights and can be self-hosted; Mercury Edit 2 is proprietary.
Which is newer?
Mercury Edit 2 is the newest, released Mar 30, 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.
