MiniMax-M2.5 vs o3 vs Qwen3.5 Plus
Qwen3.5 Plus comes out ahead, 66 to 61 and 58 on our weighted score, though MiniMax-M2.5 is 42% cheaper per token.
MiniMaxMiniMax-M2.5
61/100- ECI146.7
- Price$0.30 / $1.20
- Context205K
OpenAIo3
58/100- ECI146.9
- Price$2.00 / $8.00
- Context200K
- Our pick
Alibaba (Qwen)Qwen3.5 Plus
66/100- ECI146.8
- Price$0.40 / $2.40
- Context1M
Qwen3.5 Plus is our pick
Qwen3.5 Plus is the better all-round choice, scoring 66/100 against MiniMax-M2.5 (61) and o3 (58). It leads on context window. MiniMax-M2.5 wins on price. o3 wins on inputs & features. The score weighs capability 50%, price 25%, inputs & features 15%, context window 10%.
- Capabilityo3Capabilities Index (ECI): o3 146.9 · Qwen3.5 Plus 146.8 · MiniMax-M2.5 146.7
- Lowest priceMiniMax-M2.5MiniMax-M2.5 $0.525 · Qwen3.5 Plus $0.90 · o3 $3.50 per 1M tokens (3:1 blend)
- Longest contextQwen3.5 PlusQwen3.5 Plus 1,000,000 · MiniMax-M2.5 204,800 · o3 200,000 tokens
- Widest inputso3 and Qwen3.5 PlusMiniMax-M2.5: Text · o3: Text, Images, PDFs · Qwen3.5 Plus: Text, Images, Video
- Self-hostingMiniMax-M2.5Publishes downloadable weights
| Measure | Weight | MiniMax-M2.5 | o3 | Qwen3.5 Plus |
|---|---|---|---|---|
| CapabilityCapabilities Index (ECI) | 50% | 74 | 74 | 74 |
| Price | 25% | 63 | 24 | 52 |
| Inputs & features | 15% | 35 | 80 | 70 |
| Context window | 10% | 32 | 32 | 60 |
| Overall | 100% | 61/100 | 58/100 | 66/100 |
Every spec in one table
Highlighted cells lead their row. Dashes mean the data is not published.
| Specification | MiniMax-M2.5MiniMax | o3OpenAI | Qwen3.5 PlusAlibaba (Qwen) |
|---|---|---|---|
| Capability | |||
| Capabilities Index (ECI) | 146.7 | 146.9 (best) | 146.8 |
| ECI rank | #66 of 148 | #63 of 148 (best) | #65 of 148 |
| GPQA DiamondGraduate-level science questions | — | 81.8% | 84.9% (best) |
| FrontierMath Tiers 1–3Research-level mathematics | — | 33.3% | — |
| OTIS Mock AIME 2024–2025Competition mathematics | — | 84.4% | 86.7% (best) |
| SWE-bench VerifiedFixing real GitHub issues | — | 62.3% | — |
| SimpleQA VerifiedShort factual questions | — | 49.4% (best) | 25.4% |
| Price per million tokens | |||
| Input | $0.30 (best) | $2.00 | $0.40 |
| Output | $1.20 (best) | $8.00 | $2.40 |
| Cached input | $0.03 (best) | $0.50 | — |
| Blended (3:1) | $0.525 (best) | $3.50 | $0.90 |
| Long-context rate | Same rate | Same rate | Same rate |
| Price source | Official MiniMax (minimax.io) API | Official OpenAI API | Official Alibaba API |
| Limits | |||
| Context window | 204,800 tokens | 200,000 tokens | 1,000,000 tokens (best) |
| Max output | 131,072 tokens (best) | 100,000 tokens | 65,536 tokens |
| Inputs and features | |||
| Text | Yes | Yes | Yes |
| Images | No | Yes | Yes |
| PDFs | No | Yes | No |
| Audio | No | No | No |
| Video | No | No | Yes |
| Reasoning | Yes | Yeslow · medium · high | Yes |
| Tool calling | Yes | Yes | Yes |
| Structured output | No | Yes | No |
| Availability | |||
| Weights | Open | Proprietary | Proprietary |
| API model ID | MiniMax-M2.5 | o3 | qwen3.5-plus |
| API providers | 21 (best) | 18 | 10 |
| Released | Feb 12, 2026 | Apr 16, 2025 | Feb 16, 2026 |
| Knowledge cutoff | — | May 2024 | Apr 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
- o3$36.00
- Qwen3.5 Plus$8.80
Which should you choose?
Which is better: MiniMax-M2.5, o3 or Qwen3.5 Plus?
Qwen3.5 Plus is the better all-round choice, scoring 66/100 against MiniMax-M2.5 (61) and o3 (58). It leads on context window. MiniMax-M2.5 wins on price. o3 wins on inputs & features. The score weighs capability 50%, price 25%, inputs & features 15%, context window 10%.
Which is cheaper, MiniMax-M2.5, o3 or Qwen3.5 Plus?
MiniMax-M2.5 is cheaper at $0.30 input / $1.20 output per million tokens (official MiniMax (minimax.io) API price). Qwen3.5 Plus costs $0.40 input / $2.40 output per million tokens (official Alibaba 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 $0.525 per million tokens for MiniMax-M2.5 versus $0.90 for Qwen3.5 Plus (1.7× as much) and $3.50 for o3 (6.7× as much).
Which scores higher on benchmarks?
o3 scores higher on the Capabilities Index (ECI): o3 146.9 (#63 of 148), Qwen3.5 Plus 146.8 (#65 of 148) and MiniMax-M2.5 146.7 (#66 of 148). The confidence ranges of the top two overlap (144.9–148.6 vs 144.6–148.1), so treat the gap as small.
Which is better for coding?
There are no published SWE-bench Verified results for MiniMax-M2.5 and Qwen3.5 Plus 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?
Qwen3.5 Plus has the largest context window at 1,000,000 tokens, against 204,800 for MiniMax-M2.5 and 200,000 for o3. Maximum output per response: MiniMax-M2.5 up to 131,072, o3 up to 100,000, Qwen3.5 Plus up to 65,536 tokens.
Which can read images, PDFs, audio or video?
MiniMax-M2.5 accepts text; o3 accepts text, images and PDFs; Qwen3.5 Plus accepts text, images and video. o3 handles the widest range of inputs.
Are any of these open source?
MiniMax-M2.5 publishes its weights and can be self-hosted; o3 and Qwen3.5 Plus is proprietary.
Which is newer?
Qwen3.5 Plus is the newest, released Feb 16, 2026. MiniMax-M2.5 came out Feb 12, 2026; o3 came out Apr 16, 2025. Knowledge cutoff: o3 May 2024, Qwen3.5 Plus Apr 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.
