DeepSeek V3.2 vs MiniMax M3
DeepSeek against MiniMax, costed on the same three workloads. DeepSeek V3.2 is cheaper on all three workloads.
DeepSeek V3.2 has been retired by its vendor. Its column shows the last rates it was sold at, kept for reference.
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Monthly bill, side by side
| Workload | DeepSeek V3.2 | MiniMax M3 | Difference |
|---|---|---|---|
| Support chatbot 2,500 six-turn conversations a day |
$723 | $1,087 | $364 (1.5×) |
| Document summarizer 1,000 single-shot summaries a day |
$112 | $139 | $26.52 (+24%) |
| Coding agent 200 twelve-turn sessions a day |
$606 | $788 | $182 (+30%) |
No prompt caching and no batch discount on either side, so the comparison is like for like. Both figures assume 30 days a month.
The rate cards
| DeepSeek V3.2 | MiniMax M3 | |
|---|---|---|
| Input, per 1M tokens | $0.28 | $0.3 |
| Output, per 1M tokens | $0.4 | $1.2 |
| Cached input | $0.028 | $0.06 |
| Context window | 164K | 1M |
| Maximum output | 164K | 128K |
| Reasoning model | yes | yes |
| Vision | no | no |
Beyond the price
- MiniMax M3 reads up to 1M tokens of context in one request; DeepSeek V3.2 stops at 164K.
- DeepSeek V3.2 can write up to 164K tokens in one response, against 128K for MiniMax M3.
- Cached input costs 90% less than fresh input on DeepSeek V3.2 and 80% less on MiniMax M3, which matters most for workloads that resend the same prompt.
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Full detail: DeepSeek V3.2 pricing · MiniMax M3 pricing
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Common questions
Which is cheaper, DeepSeek V3.2 or MiniMax M3?
DeepSeek V3.2 is cheaper on all three workloads.
How much would DeepSeek V3.2 and MiniMax M3 cost each month?
On PromptSpend's standard workloads, per month: support chatbot: DeepSeek V3.2 $723, MiniMax M3 $1,087 (DeepSeek V3.2 is cheaper by $364); document summarizer: DeepSeek V3.2 $112, MiniMax M3 $139 (DeepSeek V3.2 is cheaper by $26.52); coding agent: DeepSeek V3.2 $606, MiniMax M3 $788 (DeepSeek V3.2 is cheaper by $182). No prompt caching and no batch discount is assumed.
How do DeepSeek V3.2 and MiniMax M3 differ apart from price?
MiniMax M3 reads up to 1M tokens of context in one request; DeepSeek V3.2 stops at 164K. DeepSeek V3.2 can write up to 164K tokens in one response, against 128K for MiniMax M3. Cached input costs 90% less than fresh input on DeepSeek V3.2 and 80% less on MiniMax M3, which matters most for workloads that resend the same prompt.