DeepSeek-V3.2 (Thinking) vs o3-mini
DeepSeek-V3.2 (Thinking) leads the LLM Stats Score 32.6 to 21.5. DeepSeek-V3.2 (Thinking) is 6.1x cheaper per token.
DeepSeek · OpenAI · Updated for 2026
Which is better?
DeepSeek-V3.2 (Thinking) leads the overall LLM Stats Score 32.6 to 21.5, ranking #110 overall.
In the 2 individual benchmarks reported for both models, DeepSeek-V3.2 (Thinking) wins 2; this is a narrower head-to-head signal than the composite indexes.
On price, DeepSeek-V3.2 (Thinking) is roughly 6.1x cheaper per token on a blended 3:1 input/output basis, which adds up quickly at production volume.
o3-mini also accepts a larger context window (200,000 input tokens), making it the stronger choice for long documents and large codebases.
Based on current LLM Stats indexes, shared benchmarks, pricing, and model metadata for 2026.
Choose DeepSeek-V3.2 (Thinking)
- overall performance matters — it scores 32.6 and ranks #110 on LLM Stats
- your work emphasizes reasoning and coding — it leads those capability indexes
- you value its reported benchmark strengths — it wins 2 of 2 exact shared results
- cost matters — it's about 6.1x cheaper per token
- you want the most recent training data — it shipped Dec 2025
- you need open weights you can self-host or fine-tune
Choose o3-mini
- you process long inputs — it offers a 200,000 token context window
At a glance
The differences that matter most.
Capability indexes
Additional strengths measured across groups of related public benchmarks
Individual benchmarks
14 reported for DeepSeek-V3.2 (Thinking) · 25 for o3-mini
DeepSeek-V3.2 (Thinking) outperforms in 2 benchmarks (GPQA, SWE-Bench Verified), while o3-mini is better at 0 benchmarks.
DeepSeek-V3.2 (Thinking) significantly outperforms across most benchmarks.
Human preference
Blind head-to-head votes and playground preference scores
Pricing Analysis
Price comparison per million tokens
For input processing, DeepSeek-V3.2 (Thinking) ($0.28/1M tokens) is 3.9x cheaper than o3-mini ($1.10/1M tokens).
For output processing, DeepSeek-V3.2 (Thinking) ($0.42/1M tokens) is 10.5x cheaper than o3-mini ($4.40/1M tokens).
In conclusion, o3-mini is more expensive than DeepSeek-V3.2 (Thinking).*
* Using a 3:1 ratio of input to output tokens
Context Window
Maximum input and output token capacity
o3-mini accepts 200,000 input tokens compared to DeepSeek-V3.2 (Thinking)'s 131,072 tokens. o3-mini can generate longer responses up to 100,000 tokens, while DeepSeek-V3.2 (Thinking) is limited to 65,536 tokens.
License
Usage and distribution terms
DeepSeek-V3.2 (Thinking) is licensed under MIT, while o3-mini uses a proprietary license.
License differences may affect how you can use these models in commercial or open-source projects.
MIT
Open weights
Proprietary
Closed source
Release Timeline
When each model was launched
DeepSeek-V3.2 (Thinking) was released on 2025-12-01, while o3-mini was released on 2025-01-30.
DeepSeek-V3.2 (Thinking) is 10 months newer than o3-mini.
Dec 1, 2025
9 months ago
10mo newerJan 30, 2025
1.6 years ago
Knowledge Cutoff
When training data ends
o3-mini has a documented knowledge cutoff of 2023-09-30, while DeepSeek-V3.2 (Thinking)'s cutoff date is not specified.
We can confirm o3-mini's training data extends to 2023-09-30, but cannot make a direct comparison without DeepSeek-V3.2 (Thinking)'s cutoff date.
—
Sep 2023
Provider Availability
DeepSeek-V3.2 (Thinking) is available from DeepSeek. o3-mini is available from Azure, OpenAI.
DeepSeek-V3.2 (Thinking)
o3-mini
Outputs Comparison
Judge for yourself.
Run your own prompts against DeepSeek-V3.2 (Thinking) and o3-mini side-by-side, then vote on the output you prefer.
FAQ
Common questions about DeepSeek-V3.2 (Thinking) vs o3-mini.