DeepSeek V3.2 vs GPT-5.4 mini
Price and specs side by side · USD per 1M tokens · verified 2026-10-11
// side by side
| metric | DeepSeek V3.2 | GPT-5.4 mini |
|---|
| input / 1M | $0.62 | $0.75 |
| output / 1M | $1.85 | $4.50 |
| blended (3:1) | $0.9275 | $1.6875 |
| cache read / 1M | — | $0.075 |
| context | 163.8K | 400K |
| max output | 81.9K | 128K |
| input types | text | text · image |
| reasoning | yes | yes |
| tool calling | yes | yes |
| structured output | yes | yes |
| open weights | yes | no |
| released | 2025-12-01 | 2026-03-17 |
| knowledge cutoff | 2024-07 | 2025-08-31 |
| lab | DeepSeek | OpenAI |
// monthly cost scenarios
| workload | tokens in / out | DeepSeek V3.2 | GPT-5.4 mini |
|---|
| Chatbot | 10M / 2M | $9.90 | $16.50 |
| RAG app | 50M / 5M | $40.25 | $60.00 |
| Coding agent | 20M / 10M | $30.90 | $60.00 |
// verdict
- DeepSeek V3.2 is 45% cheaper than GPT-5.4 mini on a blended 3:1 input/output basis.
- GPT-5.4 mini has the larger context window (400K vs 163.8K tokens).
- Only GPT-5.4 mini accepts image input.