GPT-5.4 Nano is $1.3 cheaper per 1M input tokens (86.7% lower; 7.5x difference).
API cost decision in 10 seconds
NewMistral Medium 3.5 vs GPT-5.4 Nano
Pick GPT-5.4 Nano when budget and context both matter.
Pricing data updated:
Prices normalized to USD per 1M tokens
Sample workload: 1M input + 500K output
Budget verdict
Pick GPT-5.4 Nano when budget and context both matter.
On the standard 1M input plus 500K output workload, GPT-5.4 Nano is estimated at $0.82 vs $5.25 for Mistral Medium 3.5, saving $4.42 (84.3% lower).
Cost-first pickGPT-5.4 Nano
Context-first pickGPT-5.4 Nano
Sample savings$4.4284.3%
10x traffic gap$44.25
GPT-5.4 Nano is cheaper on the standard workload and also has the larger context window. At 10x that traffic, the same price gap is about $44.25. Use the calculator below to replace the sample workload with your own token volume.
Cost sensitivity
Workload Sensitivity
GPT-5.4 Nano stays cheaper across input-heavy, balanced, and output-heavy sample workloads.
| Workload shape | Token mix | Better pick | Mistral Medium 3.5 | GPT-5.4 Nano |
|---|---|---|---|---|
| Input-heavy / RAG | 5M input + 500K output | GPT-5.4 Nano | $11.25 | $1.62 |
| Balanced workload | 1M input + 1M output | GPT-5.4 Nano | $9 | $1.45 |
| Output-heavy chatbot | 1M input + 5M output | GPT-5.4 Nano | $39 | $6.45 |
GPT-5.4 Nano is $6.25 cheaper per 1M output tokens (83.3% lower; 6x difference).
GPT-5.4 Nano has 137.86K more context (1.53x larger).
GPT-5.4 Nano is $4.42 cheaper on the standard workload (84.3% 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
GPT-5.4 Nano has the lower input price; GPT-5.4 Nano has the lower output price; GPT-5.4 Nano offers the larger context window. For the 1M input plus 500K output sample, GPT-5.4 Nano is cheaper for the standard workload.
For a 1M input token plus 500K output token workload, the estimated API cost is $5.25 for Mistral Medium 3.5 and $0.82 for GPT-5.4 Nano.
Choose Mistral Medium 3.5 when its provider, model quality, latency, or availability is more important than the numeric price/context winner.
Choose GPT-5.4 Nano when you care most about lower input-token price, lower output-token price, and larger context window.
- On the standard 1M input plus 500K output workload, GPT-5.4 Nano is estimated at $0.82 vs $5.25 for Mistral Medium 3.5, saving $4.42 (84.3% lower).
- GPT-5.4 Nano is $4.42 cheaper on the standard workload (84.3% lower).
- GPT-5.4 Nano is $1.3 cheaper per 1M input tokens (86.7% lower; 7.5x difference).
- GPT-5.4 Nano is $6.25 cheaper per 1M output tokens (83.3% lower; 6x difference).
- GPT-5.4 Nano has 137.86K more context (1.53x larger).
| Feature | NewMistral Medium 3.5 (Mistral) | GPT-5.4 Nano (OpenAI) |
|---|---|---|
| Input Price prompt tokens per 1M | $1.5 | $0.2 |
| Completion Price per 1M tokens | $7.5 | $1.25 |
| Sample Workload Cost 1M input + 500K output | $5.25 | $0.82 |
| Context Window | 262.14K | 400K |
| Release Date |
Use-Case Decision Matrix
| Use case | Better pick | Why |
|---|---|---|
| Budget-constrained production | GPT-5.4 Nano | On the standard 1M input plus 500K output workload, GPT-5.4 Nano is estimated at $0.82 vs $5.25 for Mistral Medium 3.5, saving $4.42 (84.3% lower). |
| High-volume input processing | GPT-5.4 Nano | Lower prompt-token price matters most when prompts, retrieved passages, or documents dominate the bill. |
| Long responses and chatbots | GPT-5.4 Nano | Lower output-token price matters most when assistants generate many completion tokens. |
| RAG or long-document work | GPT-5.4 Nano | A larger context window leaves more room for retrieved passages, conversation history, or source files. |
Related Alternatives
- Mistral Nemo can replace Mistral Medium 3.5 when lower sample workload cost matters most: $0.04.
- Mistral Small 3 can replace Mistral Medium 3.5 when lower sample workload cost matters most: $0.09.
- Ministral 3 3B 2512 can replace Mistral Medium 3.5 when lower sample workload cost matters most: $0.15.
- Mistral Small 3.2 24B can replace Mistral Medium 3.5 when lower sample workload cost matters most: $0.17.
- Llama 4 Scout offers 10M context with $0.23 sample workload cost.
- Grok 4.20 Multi-Agent offers 2M context with $5 sample workload cost.
- Grok 4.20 offers 2M context with $2.5 sample workload cost.
- Owl Alpha offers 1.05M context with $0 sample workload cost.
- No popular competitor is currently available.
Cheaper alternatives
Review low-cost models sorted by a standard 1M input plus 500K output workload.
Open cheapest modelsLarger context alternatives
Find models with larger context windows for RAG, long documents, and codebase review.
Open largest context modelsProvider catalogs
Compare models within provider hubs before choosing a final API vendor.
Open provider hubsMistral catalog
Review all tracked Mistral models before deciding whether this matchup is the right shortlist.
Open Mistral modelsOpenAI catalog
Check other OpenAI models with comparable pricing, context, or release timing.
Open OpenAI modelsMistral Medium 3.5 is a dense 128B instruction-following model from Mistral AI. It supports text and image inputs with text output, and is designed for agentic workflows, coding, and complex...
GPT-5.4 nano is the most lightweight and cost-efficient variant of the GPT-5.4 family, optimized for speed-critical and high-volume tasks. It supports text and image inputs and is designed for low-latency...