Mistral Medium 3.5 vs Mistral Small 4 pricing

Mistral Medium 3.5 and Mistral Small 4 side by side: token prices, cache and batch prices, limits, and the monthly cost of your own workload.

For this workload Mistral Small 4 costs $24.30 a month and Mistral Medium 3.5 costs $270: 11 times as much.

Attribute	Mistral Medium 3.5	Mistral Small 4
Provider	Mistral	Mistral
Input, per 1M tokens	$1.50	$0.15
Output, per 1M tokens	$7.50	$0.60
Cached input (read)	not listed	$0.015
Batch (input / output)	$0.75 / $3.75	$0.075 / $0.30
Provider list price (input / output)	$1.50 / $7.50	$0.15 / $0.60
Context window	262,144	262,144
Maximum output	209,715	209,715
Accepts	text, image, file	text, image
Intelligence Index (Artificial Analysis)	14.2	11.3
Your cost per month	$270	$24.30lowest

Unit

Currency

The cost uses each model’s published cache-read price for the cached share and normal input price where none is published. Full detail: Mistral Medium 3.5 pricing and Mistral Small 4 pricing.

Collected 3 Oct 2026, 08:40 UTC from the OpenRouter models API (466 entries). 99 models are cross-checked against provider list prices in the LiteLLM price table.

How to read this comparison

A lower price per token does not settle which model is cheaper for you. The two models can differ in how the bill splits between input and output: one may have cheaper input and dearer output than the other. Which side wins depends on how long your prompts are compared with the answers you ask for, so set the workload above to your own traffic before reading the last row.

If your requests repeat a long prefix, such as a system prompt or a document, raise “From cache”. The share you set is billed at each model’s cache-read price when one is published, which can change the result when only one of the two offers it. Reasoning models bill hidden thinking as output: for those, raise the output tokens to what your requests really consume.

Price is one axis. Context window, maximum output and accepted inputs are listed because they decide whether a model can do the job at all; the Intelligence Index, where shown, is a third-party score from Artificial Analysis and not a judgement by this site.

Related comparisons

Questions and answers

Which is cheaper, Mistral Medium 3.5 or Mistral Small 4?

For 1,000 requests a day with 3,000 input and 600 output tokens each, Mistral Medium 3.5 costs $270 a month and Mistral Small 4 costs $24.30, so Mistral Small 4 is cheaper for that workload. A different mix of input and output can change the answer; use the simulator on this page.

What are the prices per million tokens?

Mistral Medium 3.5: $1.50 input and $7.50 output. Mistral Small 4: $0.15 input and $0.60 output. These are the OpenRouter prices at the collection of 3 Oct 2026, 08:40 UTC.

Which one has the larger context window?

Both accept 262,144 tokens.

Do both offer a cached-input price?

Mistral Medium 3.5: no cache-read price listed. Mistral Small 4: $0.015 per million cached input tokens.

Does this comparison say which model is better?

No. It compares prices and limits. Quality depends on your task; where OpenRouter relays the Artificial Analysis Intelligence Index for a model, the table shows it as a third-party reference.