Mistral Medium 3.5 vs GPT-5.4 mini

Mistral Medium 3.5 versus GPT-5.4 mini specifications and price.
metric	Mistral Medium 3.5	GPT-5.4 mini
Input / 1M	$1.50	$0.75
Output / 1M	$7.50	$4.50
Context	262K	400K
Cost @ typical workload	$1,200/mo	$675/mo
Modality	text + image	text + image
Price source	list	list
Provider	Mistral	OpenAI

Which should you pick?

On a typical workload, GPT-5.4 mini costs $675/mo against Mistral Medium 3.5's $1,200/mo — roughly 1.8× cheaper. But the ranking depends on your output-to-input ratio: output is the pricier direction for both, so an output-heavy job (code generation, long answers) widens the gap while an input-heavy one (summarization, retrieval) narrows it. If you need to fit more in a single prompt, GPT-5.4 mini has the larger 400K-token window (~600 pages).

These are list and routed market prices, not measured outcomes. Two models at the same rate can still cost different amounts to finish the same task, because verbose or reasoning-heavy models emit more tokens. That gap is exactly what measured cost-per-task captures.

Frequently asked questions

Is Mistral Medium 3.5 or GPT-5.4 mini cheaper?

For a typical workload (1,500 input + 500 output tokens × 200,000 requests/month), GPT-5.4 mini costs $675/mo versus $1,200/mo for Mistral Medium 3.5 — about 1.8× less. Because output is priced higher than input, the winner can flip if your workload writes much more or less than this; check your own numbers in the calculator.

What's the main difference between Mistral Medium 3.5 and GPT-5.4 mini?

On price, Mistral Medium 3.5 is $1.50/$7.50 per 1M (in/out) and GPT-5.4 mini is $0.75/$4.50. GPT-5.4 mini has the larger context window at 400K tokens.

More comparisons

Mistral Medium 3.5 and GPT-5.4 mini — full specs and price history.
API cost calculator — compare on your own workload.
All comparisons — the full head-to-head index.