Mistral Small 4 vs Mistral Medium 3.5: standard utility vs balanced logic costs

Lightweight utility versus balanced medium-scale logic.

Balancing speed and quality often leads developers to compare Mistral Small 4 and Mistral Medium 3.5. Let's compare their cost structures.

Cost Comparison

Based on 100,000 input tokens (50% cached), 5,000 output tokens, and 100 requests.

Mistral Small 4
$1.13
Mistral Medium 3.5
$3.20
Gemini 3.5 Flash
$5.25
Claude Haiku 4.5
$8.00
Gemini 3.1 Pro (<=200k)
$17.00
GPT-5.4
$21.25
Claude Sonnet 4.6
$24.00
Claude Opus 4.7
$40.00
GPT-5.5
$42.50
Option A
Mistral Small 4
Wins 3 of 4 compared specs
Option B
Mistral Medium 3.5
Wins 0 of 4 compared specs

Side-by-side specs

SpecMistral Small 4Mistral Medium 3.5
Input Cost (per M)$0.15 (better on this spec)$0.40
Output Cost (per M)$0.60 (better on this spec)$2.00
Cached Input (per M)$0.015 (better on this spec)$0.04
Batch Discount50%50%

How they differ

Mistral Small 4 costs $0.15 per million input tokens and $0.60 per million output tokens. Mistral Medium 3.5 is priced at $0.40 per million input tokens and $2.00 per million output tokens. Both support a 90% caching discount and a 50% batch discount.

Verdict

Mistral Small 4 is the clear budget winner. Use Mistral Medium 3.5 for tasks requiring a step up in translation or conversational quality without paying premium frontier prices.

Which should you pick?

Choose Mistral Small 4

Sentiment analysis, high-caching search routing, and standard text summaries.

Choose Mistral Medium 3.5

Intermediate multilingual text generation, conversational assistants, and detailed reports.

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