API cost decision in 10 seconds

NewMistral Large 4 vs Fugu Ultra v2

Pick Mistral Large 4 when budget and context both matter.

Page updated:  Data confirmed:  Prices normalized to USD per 1M tokens Sample workload: 1M input + 500K output

Budget verdict

Pick Mistral Large 4 when budget and context both matter.

On the standard 1M input plus 500K output workload, Mistral Large 4 is estimated at $1.73 vs $20 for Fugu Ultra v2, saving $18.27 (91.4% lower).

Cost-first pickMistral Large 4
Context-first pickMistral Large 4
Sample savings$18.2791.4%
10x traffic gap$182.75

Mistral Large 4 is cheaper on the standard workload and also has the larger context window. At 10x that traffic, the same price gap is about $182.75. Use the calculator below to replace the sample workload with your own token volume.

Cost sensitivity

Workload Sensitivity

Same prices, different token mixes.

Mistral Large 4 stays cheaper across input-heavy, balanced, and output-heavy sample workloads.

Workload shapeToken mixBetter pickMistral Large 4Fugu Ultra v2
Input-heavy / RAG5M input + 500K outputMistral Large 4$4.45$40
Balanced workload1M input + 1M outputMistral Large 4$2.77$35
Output-heavy chatbot1M input + 5M outputMistral Large 4$11.13$155
Cheaper input Mistral Large 4 $0.68 vs $5 / 1M

Mistral Large 4 is $4.32 cheaper per 1M input tokens (86.4% lower; 7.35x difference).

Cheaper output Mistral Large 4 $2.09 vs $30 / 1M

Mistral Large 4 is $27.91 cheaper per 1M output tokens (93% lower; 14.4x difference).

Larger context Mistral Large 4 1.05M vs 1M

Mistral Large 4 has 48.58K more context (1.05x larger).

Sample workload Mistral Large 4 $1.73 vs $20

Mistral Large 4 is $18.27 cheaper on the standard workload (91.4% lower).

Estimate your workload cost

Your Workload Cost

Prices are normalized to USD per 1M tokens.
Mistral Large 4 Calculating… Estimated API cost
Fugu Ultra v2 Calculating… Estimated API cost
Cheaper for this workload Calculating… Difference: calculating…

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

Verdict

Mistral Large 4 has the lower input price; Mistral Large 4 has the lower output price; Mistral Large 4 offers the larger context window. For the 1M input plus 500K output sample, Mistral Large 4 is cheaper for the standard workload.

For a 1M input token plus 500K output token workload, the estimated API cost is $1.73 for Mistral Large 4 and $20 for Fugu Ultra v2.

Best Fit

Choose Mistral Large 4 when you care most about lower input-token price, lower output-token price, and larger context window.

Choose Fugu Ultra v2 when its provider, model quality, latency, or availability is more important than the numeric price/context winner.

Decision Notes
  • On the standard 1M input plus 500K output workload, Mistral Large 4 is estimated at $1.73 vs $20 for Fugu Ultra v2, saving $18.27 (91.4% lower).
  • Mistral Large 4 is $18.27 cheaper on the standard workload (91.4% lower).
  • Mistral Large 4 is $4.32 cheaper per 1M input tokens (86.4% lower; 7.35x difference).
  • Mistral Large 4 is $27.91 cheaper per 1M output tokens (93% lower; 14.4x difference).
  • Mistral Large 4 has 48.58K more context (1.05x larger).
Head-to-Head Specs
FeatureNewMistral Large 4
(Mistral)		Fugu Ultra v2
(Sakana)
Input Price
prompt tokens per 1M		$0.68$5
Completion Price
per 1M tokens		$2.09$30
Sample Workload Cost
1M input + 500K output		$1.73$20
Context Window1.05M1M
Release Date

Use-Case Decision Matrix

Use caseBetter pickWhy
Budget-constrained productionMistral Large 4On the standard 1M input plus 500K output workload, Mistral Large 4 is estimated at $1.73 vs $20 for Fugu Ultra v2, saving $18.27 (91.4% lower).
High-volume input processingMistral Large 4Lower prompt-token price matters most when prompts, retrieved passages, or documents dominate the bill.
Long responses and chatbotsMistral Large 4Lower output-token price matters most when assistants generate many completion tokens.
RAG or long-document workMistral Large 4A larger context window leaves more room for retrieved passages, conversation history, or source files.

Related Alternatives

Same-provider lower-cost swaps
  • Mistral Nemo can replace Mistral Large 4 when lower sample workload cost matters most: $0.04.
  • Mistral Small 3 can replace Mistral Large 4 when lower sample workload cost matters most: $0.09.
  • Ministral 3 8B 2512 (batch) can replace Mistral Large 4 when lower sample workload cost matters most: $0.11.
  • Ministral 3 3B 2512 can replace Mistral Large 4 when lower sample workload cost matters most: $0.15.
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Cheaper alternatives

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Larger context alternatives

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Provider catalogs

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Mistral catalog

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Sakana catalog

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Mistral Large 4

Mistral Large 4 is a frontier multimodal (text and image input) model from Mistral AI built for reasoning, coding, and agentic workloads. It offers a 1M-token context window with up...

Fugu Ultra v2

Fugu Ultra v2 is the higher-performance model in Sakana AI's Fugu family. Rather than a single monolithic model, Fugu is a learned multi-agent orchestration system: a language model trained to...