Toast 1 vs Mercury 2.5
Mercury 2.5 comes out ahead, 55 to 45 on our weighted score, and it is the cheaper option too.
Mixedbread
Toast 1
45/100- ECI—
- Price$0.30 / $0.72
- Context131K
- Our pick
InceptionMercury 2.5
55/100- ECI—
- Price$0.20 / $0.75
- Context260K
Add a model
Make it a three-way comparison.
Mercury 2.5 is our pick
Mercury 2.5 is the better all-round choice, scoring 55/100 against Toast 1 (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 priceMercury 2.5Mercury 2.5 $0.338 · Toast 1 $0.405 per 1M tokens (3:1 blend)
- Longest contextMercury 2.5Mercury 2.5 260,000 · Toast 1 131,000 tokens
- Widest inputsSame inputsToast 1: Text · Mercury 2.5: Text
- Self-hostingNo open weightsBoth are available only through APIs
| Measure | Weight | Toast 1 | Mercury 2.5 |
|---|---|---|---|
| Price | 50% | 66 | 69 |
| Inputs & features | 30% | 25 | 45 |
| Context window | 20% | 24 | 36 |
| Overall | 100% | 45/100 | 55/100 |
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 | Toast 1Mixedbread | Mercury 2.5Inception |
|---|---|---|
| Capability | ||
| Capabilities Index (ECI) | — | — |
| ECI rank | — | — |
| Price per million tokens | ||
| Input | $0.30 | $0.20 (best) |
| Output | $0.72 (best) | $0.75 |
| Cached input | — | $0.02 |
| Blended (3:1) | $0.405 | $0.338 (best) |
| Long-context rate | Same rate | Same rate |
| Price source | Median of 1 providers | Official Inception API |
| Limits | ||
| Context window | 131,000 tokens | 260,000 tokens (best) |
| Max output | 4,000 tokens | 65,536 tokens (best) |
| Inputs and features | ||
| Text | Yes | Yes |
| Images | No | No |
| PDFs | No | No |
| Audio | No | No |
| Video | No | No |
| Reasoning | No | Yeslow · medium · high |
| Tool calling | Yes | Yes |
| Structured output | No | Yes |
| Availability | ||
| Weights | Proprietary | Proprietary |
| API model ID | — | mercury-2.5 |
| API providers | 1 | 6 (best) |
| Released | Aug 13, 2026 | Sep 8, 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.
- Toast 1$4.44
- Mercury 2.5$3.50
Which should you choose?
Which is better: Toast 1 or Mercury 2.5?
Mercury 2.5 is the better all-round choice, scoring 55/100 against Toast 1 (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, Toast 1 or Mercury 2.5?
Mercury 2.5 is cheaper at $0.20 input / $0.75 output per million tokens (official Inception API price). Toast 1 costs $0.30 input / $0.72 output per million tokens (median across 1 API provider). At a typical mix of three input tokens to one output token, that is $0.338 per million tokens for Mercury 2.5 versus $0.405 for Toast 1 (1.2× as much).
Which scores higher on benchmarks?
There is no independent benchmark that covers both models yet. Toast 1 has not been scored yet and Mercury 2.5 has not been scored yet.
Which is better for coding?
There are no published SWE-bench Verified results for Toast 1 and Mercury 2.5 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?
Mercury 2.5 has the largest context window at 260,000 tokens, against 131,000 for Toast 1. Maximum output per response: Toast 1 up to 4,000, Mercury 2.5 up to 65,536 tokens.
Which can read images, PDFs, audio or video?
Toast 1 accepts text; Mercury 2.5 accepts text. They handle the same number of input types.
Are any of these open source?
No. Toast 1 and Mercury 2.5 are proprietary and only available through APIs and apps.
Which is newer?
Mercury 2.5 is the newest, released Sep 8, 2026. Toast 1 came out Aug 13, 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 Nov 2, 2026.
