Model Comparison

GPT-5.4 vs Mistral SmallWhich is better in 2026?

Comparing GPT-5.4 and Mistral Small across benchmarks, pricing, and capabilities.

Verdict: GPT-5.4 vs Mistral Small — which is better?

GPT-5.4 (by OpenAI) and Mistral Small (by Mistral AI) are two of the AI models people compare most. Here is how they stack up on benchmarks, price and capabilities, and which one to pick in 2026.

On price, Mistral Small is roughly 18.7x cheaper per token on a blended 3:1 input/output basis, which adds up quickly at production volume.

GPT-5.4 also accepts a larger context window (1,000,000 input tokens), making it the stronger choice for long documents and large codebases.

Choose GPT-5.4 if…

  • you process long inputs — it offers a 1,000,000 token context window
  • you want the most recent training data — it shipped Mar 2026

Choose Mistral Small if…

  • cost matters — it's about 18.7x cheaper per token
  • you need open weights you can self-host or fine-tune
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Performance Benchmarks

Comparative analysis across standard metrics

No common benchmarks found

GPT-5.4 and Mistral Small don't have any common benchmark datasets to compare. They may have been evaluated on different testing suites.

Arena Performance

Human preference votes

Pricing Analysis

Price comparison per million tokens

Mistral Small costs less

For input processing, GPT-5.4 ($2.50/1M tokens) is 12.5x more expensive than Mistral Small ($0.20/1M tokens).

For output processing, GPT-5.4 ($15.00/1M tokens) is 25.0x more expensive than Mistral Small ($0.60/1M tokens).

In conclusion, GPT-5.4 is more expensive than Mistral Small.*

* Using a 3:1 ratio of input to output tokens

Lowest available price from all providers
Sat Jun 06 2026 • llm-stats.com
OpenAI
GPT-5.4
Input tokens$2.50
Output tokens$15.00
Best providerOpenAI
Mistral AI
Mistral Small
Input tokens$0.20
Output tokens$0.60
Best providerMistral
Notice missing or incorrect data?Start an Issue→

Context Window

Maximum input and output token capacity

GPT-5.4 accepts 1,000,000 input tokens compared to Mistral Small's 32,768 tokens. GPT-5.4 can generate longer responses up to 128,000 tokens, while Mistral Small is limited to 32,768 tokens.

OpenAI
GPT-5.4
Input1,000,000 tokens
Output128,000 tokens
Mistral AI
Mistral Small
Input32,768 tokens
Output32,768 tokens
Sat Jun 06 2026 • llm-stats.com

Input Capabilities

Supported data types and modalities

GPT-5.4 supports multimodal inputs, whereas Mistral Small does not.

GPT-5.4 can handle both text and other forms of data like images, making it suitable for multimodal applications.

GPT-5.4

Text
Images
Audio
Video

Mistral Small

Text
Images
Audio
Video

License

Usage and distribution terms

GPT-5.4 is licensed under a proprietary license, while Mistral Small uses Mistral Research License.

License differences may affect how you can use these models in commercial or open-source projects.

GPT-5.4

Proprietary

Closed source

Mistral Small

Mistral Research License

Open weights

Release Timeline

When each model was launched

GPT-5.4 was released on 2026-03-05, while Mistral Small was released on 2024-09-17.

GPT-5.4 is 18 months newer than Mistral Small.

GPT-5.4

Mar 5, 2026

3 months ago

1.5yr newer
Mistral Small

Sep 17, 2024

1.7 years ago

Knowledge Cutoff

When training data ends

Neither model specifies a knowledge cutoff date.

Unable to compare the recency of their training data.

No cutoff dates available

Provider Availability

GPT-5.4 is available from OpenAI. Mistral Small is available from Mistral AI.

GPT-5.4

openai logo
OpenAI
Input Price:Input: $2.50/1MOutput Price:Output: $15.00/1M

Mistral Small

mistral logo
Mistral
Input Price:Input: $0.20/1MOutput Price:Output: $0.60/1M
* Prices shown are per million tokens

Outputs Comparison

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Key Takeaways

OpenAI
Larger context window (1,000,000 tokens)
Supports multimodal inputs
Mistral AI
Less expensive input tokens
Less expensive output tokens
Has open weights

Detailed Comparison

AI Model Comparison Table
Feature
OpenAI
GPT-5.4
Mistral AI
Mistral Small

FAQ

Common questions about GPT-5.4 vs Mistral Small.

Which is better, GPT-5.4 or Mistral Small?

GPT-5.4 (OpenAI) and Mistral Small (Mistral AI) each have strengths in different areas. Compare their benchmark scores, pricing, context windows, and capabilities above to determine which fits your needs.

How does GPT-5.4 compare to Mistral Small in benchmarks?

GPT-5.4 scores Tau2 Telecom: 98.9%, ARC-AGI: 93.7%, Graphwalks BFS <128k: 93.0%, GPQA: 92.8%, Graphwalks parents <128k: 89.8%.

Is GPT-5.4 cheaper than Mistral Small?

Mistral Small is 12.5x cheaper for input tokens. GPT-5.4 costs $2.50/M input and $15.00/M output via openai. Mistral Small costs $0.20/M input and $0.60/M output via mistral.

What are the context window sizes for GPT-5.4 and Mistral Small?

GPT-5.4 supports 1.0M tokens and Mistral Small supports 33K tokens. A larger context window lets you process longer documents, conversations, or codebases in a single request.

What are the main differences between GPT-5.4 and Mistral Small?

Key differences include context window (1.0M vs 33K), input pricing ($2.50 vs $0.20/M), multimodal support (yes vs no), licensing (Proprietary vs Mistral Research License). See the full comparison above for benchmark-by-benchmark results.

Who makes GPT-5.4 and Mistral Small?

GPT-5.4 is developed by OpenAI and Mistral Small is developed by Mistral AI.

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