Nova 2 Lite is $0.1 cheaper per 1M input tokens (25% lower; 1.33x difference).
API cost decision in 10 seconds
Nova 2 Lite vs Mistral Medium 3.1
Pick Mistral Medium 3.1 for lower cost; pick Nova 2 Lite only if the larger context window matters more.
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Data confirmed:
Prices normalized to USD per 1M tokens
Sample workload: 1M input + 500K output
Budget verdict
Pick Mistral Medium 3.1 for lower cost; pick Nova 2 Lite only if the larger context window matters more.
On the standard 1M input plus 500K output workload, Mistral Medium 3.1 is estimated at $1.4 vs $1.55 for Nova 2 Lite, saving $0.15 (9.7% lower).
Cost-first pickMistral Medium 3.1
Context-first pickNova 2 Lite
Sample savings$0.159.7%
10x traffic gap$1.5
Nova 2 Lite has more context, but Mistral Medium 3.1 saves $0.15 on the standard workload. At 10x that traffic, the same price gap is about $1.5. Use the calculator below to replace the sample workload with your own token volume.
Cost sensitivity
Workload Sensitivity
Cost winner changes by workload shape: input-heavy / RAG favors Nova 2 Lite, balanced workload favors Mistral Medium 3.1, and output-heavy chatbot favors Mistral Medium 3.1.
| Workload shape | Token mix | Better pick | Nova 2 Lite | Mistral Medium 3.1 |
|---|---|---|---|---|
| Input-heavy / RAG | 5M input + 500K output | Nova 2 Lite | $2.75 | $3 |
| Balanced workload | 1M input + 1M output | Mistral Medium 3.1 | $2.8 | $2.4 |
| Output-heavy chatbot | 1M input + 5M output | Mistral Medium 3.1 | $12.8 | $10.4 |
Mistral Medium 3.1 is $0.5 cheaper per 1M output tokens (20% lower; 1.25x difference).
Nova 2 Lite has 868.93K more context (7.63x larger).
Mistral Medium 3.1 is $0.15 cheaper on the standard workload (9.7% lower).
Estimate your workload cost
Your Workload Cost
This estimate uses normalized public API pricing per 1M tokens. It is a planning aid, not a billing quote. Verify provider pricing, limits, and terms before production use.
Quick Decision
Nova 2 Lite has the lower input price; Mistral Medium 3.1 has the lower output price; Nova 2 Lite offers the larger context window. For the 1M input plus 500K output sample, Mistral Medium 3.1 is cheaper for the standard workload.
For a 1M input token plus 500K output token workload, the estimated API cost is $1.55 for Nova 2 Lite and $1.4 for Mistral Medium 3.1.
Choose Nova 2 Lite when you care most about lower input-token price, and larger context window.
Choose Mistral Medium 3.1 when you care most about lower output-token price.
- On the standard 1M input plus 500K output workload, Mistral Medium 3.1 is estimated at $1.4 vs $1.55 for Nova 2 Lite, saving $0.15 (9.7% lower).
- Mistral Medium 3.1 is $0.15 cheaper on the standard workload (9.7% lower).
- Nova 2 Lite is $0.1 cheaper per 1M input tokens (25% lower; 1.33x difference).
- Mistral Medium 3.1 is $0.5 cheaper per 1M output tokens (20% lower; 1.25x difference).
- Nova 2 Lite has 868.93K more context (7.63x larger).
| Feature | Nova 2 Lite (Amazon) | Mistral Medium 3.1 (Mistral) |
|---|---|---|
| Input Price prompt tokens per 1M | $0.3 | $0.4 |
| Completion Price per 1M tokens | $2.5 | $2 |
| Sample Workload Cost 1M input + 500K output | $1.55 | $1.4 |
| Context Window | 1M | 131.07K |
| Release Date | ||
| Popularity | #144 | #147 |
Use-Case Decision Matrix
| Use case | Better pick | Why |
|---|---|---|
| Budget-constrained production | Mistral Medium 3.1 | On the standard 1M input plus 500K output workload, Mistral Medium 3.1 is estimated at $1.4 vs $1.55 for Nova 2 Lite, saving $0.15 (9.7% lower). |
| High-volume input processing | Nova 2 Lite | Lower prompt-token price matters most when prompts, retrieved passages, or documents dominate the bill. |
| Long responses and chatbots | Mistral Medium 3.1 | Lower output-token price matters most when assistants generate many completion tokens. |
| RAG or long-document work | Nova 2 Lite | A larger context window leaves more room for retrieved passages, conversation history, or source files. |
Related Alternatives
- Nova Micro 1.0 can replace Nova 2 Lite when lower sample workload cost matters most: $0.11.
- Nova Lite 1.0 can replace Nova 2 Lite when lower sample workload cost matters most: $0.18.
- Mistral Nemo can replace Mistral Medium 3.1 when lower sample workload cost matters most: $0.04.
- Mistral Small 3 can replace Mistral Medium 3.1 when lower sample workload cost matters most: $0.09.
- Llama 4 Scout offers 10M context with $0.23 sample workload cost.
- Owl Alpha offers 1.05M context with $0 sample workload cost.
- DeepSeek V4 Flash offers 1.05M context with $0.2 sample workload cost.
- DeepSeek V4 Pro offers 1.05M context with $0.87 sample workload cost.
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- DeepSeek V4 Flash · DeepSeek · #2
- Claude Opus 4.7 · Anthropic · #3
- Claude Sonnet 4.6 · Anthropic · #4
Cheaper alternatives
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