Comparison · prices as of 2026-07-04 · re-verified 2026-08-18
GPT-5 mini vs DeepSeek V3.2
On price alone, DeepSeek V3.2 (DeepSeek) runs about 49% cheaper than GPT-5 mini for a typical chat workload (2K input + 500 output tokens, 1,000 requests/day). Whether that's the right trade depends on the capability gap — the breakdown below shows where each one wins.
Price per million tokens
| Spec | GPT-5 mini | DeepSeek V3.2 |
|---|---|---|
| Input / MTok | $0.25 | $0.28 |
| Output / MTok | $2 | $0.42 |
| Context window | 400K | 128K |
| Max output | 128K | 8K |
| Class | workhorse | workhorse |
Estimated monthly cost by workload
Same models, three realistic usage levels. The gap between them scales with volume, so the right pick can change as you grow.
| Workload | GPT-5 mini | DeepSeek V3.2 | Cheaper |
|---|---|---|---|
| Light — chatbot 0.5K in / 0.2K out · 200 req/day | $3.15 | $1.34 | DeepSeek V3.2 |
| Typical — assistant 2K in / 0.5K out · 1K req/day | $45.00 | $23.10 | DeepSeek V3.2 |
| Heavy — RAG / agent 8K in / 2K out · 5K req/day | $900 | $462 | DeepSeek V3.2 |
Which should you pick?
- Cheapest overall: DeepSeek V3.2 — about 49% less per month on a typical assistant workload.
- Input-heavy work (long-context RAG, summarization): GPT-5 mini wins on input at $0.25/MTok. Output-heavy work (drafting, code generation): DeepSeek V3.2 wins on output at $0.42/MTok.
- Largest context window: GPT-5 mini at 400K tokens vs 128K — the one to pick if you feed in whole documents or codebases.
Frequently asked questions
Is GPT-5 mini or DeepSeek V3.2 cheaper?
DeepSeek V3.2 is cheaper — roughly 49% less per month on a typical assistant workload (2K input + 500 output tokens, 1,000 requests/day).
What do GPT-5 mini and DeepSeek V3.2 cost per million tokens?
GPT-5 mini is $0.25 per million input tokens and $2 per million output. DeepSeek V3.2 is $0.28 input and $0.42 output. Prices are first-party API list rates as of 2026-07-04.
Which has the larger context window, GPT-5 mini or DeepSeek V3.2?
GPT-5 mini does, at 400K tokens versus 128K for DeepSeek V3.2.
When should I choose GPT-5 mini over DeepSeek V3.2?
Both are workhorse-class models, so choose GPT-5 mini when it measurably wins on your own evals or you prefer its provider (OpenAI); otherwise DeepSeek V3.2 does the same job for less.
Related comparisons
Sources: OpenAI pricing · DeepSeek pricing. Run your own numbers in the cost calculator.