ZMIME
Comparison · 2 models · Updated Oct 4, 2026

MiniMax-M2 Her vs Mistral Small 3.2

Mistral Small 3.2 comes out ahead, 64 to 45 on our weighted score, and it is the cheaper option too.

  1. MiniMax

    MiniMax-M2 Her

    Released Jan 23, 2026

    45/100
    • ECI—
    • Price$0.30 / $1.20
    • Context66K
    Full specs Remove MiniMax-M2 Her
  2. Our pick

    Mistral AI

    Mistral Small 3.2

    Released Jun 20, 2025

    64/100
    • ECI131.7
    • Price$0.10 / $0.30
    • Context128K
    Full specs Remove Mistral Small 3.2

  3. Add a model

    Make it a three-way comparison.

01 — Verdict

Mistral Small 3.2 is our pick

Mistral Small 3.2 is the better all-round choice, scoring 64/100 against MiniMax-M2 Her (45). 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 3.2Mistral Small 3.2 $0.15 · MiniMax-M2 Her $0.525 per 1M tokens (3:1 blend)
  • Longest contextMistral Small 3.2Mistral Small 3.2 128,000 · MiniMax-M2 Her 65,536 tokens
  • Widest inputsMistral Small 3.2MiniMax-M2 Her: Text · Mistral Small 3.2: Text, Images
  • Self-hostingMistral Small 3.2Publishes downloadable weights
How the score is built
MeasureWeightMiniMax-M2 HerMistral Small 3.2
Price50%6389
Inputs & features30%3550
Context window20%1224
Overall100%45/10064/100

Left out because at least one model lacks the data: capability. The remaining weights were rescaled.

02 — Side by side

Every spec in one table

Highlighted cells lead their row. Dashes mean the data is not published.

MiniMax-M2 Her vs Mistral Small 3.2 specifications side by side
SpecificationMiniMax-M2 HerMiniMaxMistral Small 3.2Mistral AI
Capability
Capabilities Index (ECI)—131.7
ECI rank—#123 of 148
GPQA DiamondGraduate-level science questions—49.1%
OTIS Mock AIME 2024–2025Competition mathematics—30.3%
Price per million tokens
Input$0.30$0.10 (best)
Output$1.20$0.30 (best)
Cached input——
Blended (3:1)$0.525$0.15 (best)
Long-context rateSame rateSame rate
Price sourceMedian of 4 providersOfficial Mistral API
Limits
Context window65,536 tokens128,000 tokens (best)
Max output2,048 tokens16,384 tokens (best)
Inputs and features
TextYesYes
ImagesNoYes
PDFsNoNo
AudioNoNo
VideoNoNo
ReasoningYesNo
Tool callingYesYes
Structured outputNoNo
Availability
WeightsProprietaryOpen
API model ID—mistral-small-2506
API providers46 (best)
ReleasedJan 23, 2026Jun 20, 2025
Knowledge cutoff—Mar 2025
03 — Cost

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 Her$5.40
  • Mistral Small 3.2$1.60
04 — Questions

Which should you choose?

Which is better: MiniMax-M2 Her or Mistral Small 3.2?

Mistral Small 3.2 is the better all-round choice, scoring 64/100 against MiniMax-M2 Her (45). 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, MiniMax-M2 Her or Mistral Small 3.2?

Mistral Small 3.2 is cheaper at $0.10 input / $0.30 output per million tokens (official Mistral API price). MiniMax-M2 Her costs $0.30 input / $1.20 output per million tokens (median across 4 API providers). At a typical mix of three input tokens to one output token, that is $0.15 per million tokens for Mistral Small 3.2 versus $0.525 for MiniMax-M2 Her (3.5× as much).

Which scores higher on benchmarks?

There is no independent benchmark that covers both models yet. MiniMax-M2 Her has not been scored yet and Mistral Small 3.2 has an ECI of 131.7.

Which is better for coding?

There are no published SWE-bench Verified results for MiniMax-M2 Her and Mistral Small 3.2 yet, so there is no like-for-like coding score. Test both on a sample of your own tasks. Both support tool calling for agent workflows.

Which has the bigger context window?

Mistral Small 3.2 has the largest context window at 128,000 tokens, against 65,536 for MiniMax-M2 Her. Maximum output per response: MiniMax-M2 Her up to 2,048, Mistral Small 3.2 up to 16,384 tokens.

Which can read images, PDFs, audio or video?

MiniMax-M2 Her accepts text; Mistral Small 3.2 accepts text and images. Mistral Small 3.2 handles the widest range of inputs.

Are any of these open source?

Mistral Small 3.2 publishes its weights and can be self-hosted; MiniMax-M2 Her is proprietary.

Which is newer?

MiniMax-M2 Her is the newest, released Jan 23, 2026. Mistral Small 3.2 came out Jun 20, 2025. Knowledge cutoff: Mistral Small 3.2 Mar 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.

05 — Keep comparing

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