MiniMax-M2.5 vs GPT-5.4 mini vs GPT-5.4 nano
GPT-5.4 nano comes out ahead, 68 to 63 and 61 on our weighted score, and it is the cheaper option too.
MiniMaxMiniMax-M2.5
61/100- ECI146.7
- Price$0.30 / $1.20
- Context205K
OpenAIGPT-5.4 mini
63/100- ECI148.8
- Price$0.75 / $4.50
- Context400K
- Our pickOpenAI
GPT-5.4 nano
68/100- ECI145.8
- Price$0.20 / $1.25
- Context400K
GPT-5.4 nano is our pick
GPT-5.4 nano is the better all-round choice, scoring 68/100 against GPT-5.4 mini (63) and MiniMax-M2.5 (61). It leads on price. GPT-5.4 mini wins on capability. The score weighs capability 50%, price 25%, inputs & features 15%, context window 10%.
- CapabilityGPT-5.4 miniCapabilities Index (ECI): GPT-5.4 mini 148.8 · MiniMax-M2.5 146.7 · GPT-5.4 nano 145.8
- Lowest priceGPT-5.4 nanoGPT-5.4 nano $0.463 · MiniMax-M2.5 $0.525 · GPT-5.4 mini $1.69 per 1M tokens (3:1 blend)
- Longest contextGPT-5.4 mini and GPT-5.4 nanoGPT-5.4 mini 400,000 · GPT-5.4 nano 400,000 · MiniMax-M2.5 204,800 tokens
- Widest inputsGPT-5.4 mini and GPT-5.4 nanoMiniMax-M2.5: Text · GPT-5.4 mini: Text, Images · GPT-5.4 nano: Text, Images
- Self-hostingMiniMax-M2.5Publishes downloadable weights
| Measure | Weight | MiniMax-M2.5 | GPT-5.4 mini | GPT-5.4 nano |
|---|---|---|---|---|
| CapabilityCapabilities Index (ECI) | 50% | 74 | 77 | 73 |
| Price | 25% | 63 | 39 | 66 |
| Inputs & features | 15% | 35 | 70 | 70 |
| Context window | 10% | 32 | 44 | 44 |
| Overall | 100% | 61/100 | 63/100 | 68/100 |
Every spec in one table
Highlighted cells lead their row. Dashes mean the data is not published.
| Specification | MiniMax-M2.5MiniMax | GPT-5.4 miniOpenAI | GPT-5.4 nanoOpenAI |
|---|---|---|---|
| Capability | |||
| Capabilities Index (ECI) | 146.7 | 148.8 (best) | 145.8 |
| ECI rank | #66 of 148 | #56 of 148 (best) | #75 of 148 |
| GPQA DiamondGraduate-level science questions | — | 86.9% (best) | 78.5% |
| FrontierMath Tiers 1–3Research-level mathematics | — | 51.2% (best) | 44.9% |
| OTIS Mock AIME 2024–2025Competition mathematics | — | 88.9% (best) | 87.8% |
| SimpleQA VerifiedShort factual questions | — | 29.4% (best) | 11.7% |
| Price per million tokens | |||
| Input | $0.30 | $0.75 | $0.20 (best) |
| Output | $1.20 (best) | $4.50 | $1.25 |
| Cached input | $0.03 | $0.075 | $0.02 (best) |
| Blended (3:1) | $0.525 | $1.69 | $0.463 (best) |
| Long-context rate | Same rate | Same rate | Same rate |
| Price source | Official MiniMax (minimax.io) API | Official OpenAI API | Official OpenAI API |
| Limits | |||
| Context window | 204,800 tokens | 400,000 tokens (best) | 400,000 tokens (best) |
| Max output | 131,072 tokens (best) | 128,000 tokens | 128,000 tokens |
| Inputs and features | |||
| Text | Yes | Yes | Yes |
| Images | No | Yes | Yes |
| PDFs | No | No | No |
| Audio | No | No | No |
| Video | No | No | No |
| Reasoning | Yes | Yeslow · medium · high · xhigh | Yeslow · medium · high · xhigh |
| Tool calling | Yes | Yes | Yes |
| Structured output | No | Yes | Yes |
| Availability | |||
| Weights | Open | Proprietary | Proprietary |
| API model ID | MiniMax-M2.5 | gpt-5.4-mini | gpt-5.4-nano |
| API providers | 21 | 29 (best) | 26 |
| Released | Feb 12, 2026 | Mar 17, 2026 | Mar 17, 2026 |
| Knowledge cutoff | — | Aug 31, 2025 | Aug 31, 2025 |
What would a month cost?
Enter your expected volume in millions of tokens. List prices only; caching and batch discounts would lower these.
- MiniMax-M2.5$5.40
- GPT-5.4 mini$16.50
- GPT-5.4 nano$4.50
Which should you choose?
Which is better: MiniMax-M2.5, GPT-5.4 mini or GPT-5.4 nano?
GPT-5.4 nano is the better all-round choice, scoring 68/100 against GPT-5.4 mini (63) and MiniMax-M2.5 (61). It leads on price. GPT-5.4 mini wins on capability. The score weighs capability 50%, price 25%, inputs & features 15%, context window 10%.
Which is cheaper, MiniMax-M2.5, GPT-5.4 mini or GPT-5.4 nano?
GPT-5.4 nano is cheaper at $0.20 input / $1.25 output per million tokens (official OpenAI API price). MiniMax-M2.5 costs $0.30 input / $1.20 output per million tokens (official MiniMax (minimax.io) API price); GPT-5.4 mini costs $0.75 input / $4.50 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-M2.5 (1.1× as much) and $1.69 for GPT-5.4 mini (3.6× as much).
Which scores higher on benchmarks?
GPT-5.4 mini scores higher on the Capabilities Index (ECI): GPT-5.4 mini 148.8 (#56 of 148), MiniMax-M2.5 146.7 (#66 of 148) and GPT-5.4 nano 145.8 (#75 of 148). The confidence ranges of the top two overlap (147.1–150.5 vs 142.3–147.9), so treat the gap as small.
Which is better for coding?
There are no published SWE-bench Verified results for MiniMax-M2.5, GPT-5.4 mini and GPT-5.4 nano yet, so there is no like-for-like coding score. On overall capability, GPT-5.4 mini 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 mini and GPT-5.4 nano have the largest context windows (400,000 and 400,000 tokens), against 204,800 for MiniMax-M2.5. Maximum output per response: MiniMax-M2.5 up to 131,072, GPT-5.4 mini up to 128,000, GPT-5.4 nano up to 128,000 tokens.
Which can read images, PDFs, audio or video?
MiniMax-M2.5 accepts text; GPT-5.4 mini accepts text and images; GPT-5.4 nano accepts text and images. GPT-5.4 mini handles the widest range of inputs.
Are any of these open source?
MiniMax-M2.5 publishes its weights and can be self-hosted; GPT-5.4 mini and GPT-5.4 nano is proprietary.
Which is newer?
GPT-5.4 mini is the newest, released Mar 17, 2026. GPT-5.4 nano came out Mar 17, 2026; MiniMax-M2.5 came out Feb 12, 2026. Knowledge cutoff: GPT-5.4 mini Aug 31, 2025, GPT-5.4 nano Aug 31, 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.
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