DeepSeek V3.1 Terminus vs MiniMax M2

DeepSeek V3.1 Terminus at $0.310 in and $1.15 out and MiniMax M2 at $0.293 in and $1.17 out — per million tokens, from the same wallet.

DeepSeek V3.1 Terminus

DeepSeek

0.25¢

for a client proposal

$0.310 in · $1.15 out / 1M

131K context · released September 2025

Full page →

MiniMax M2

MiniMax

0.24¢

for a client proposal

$0.293 in · $1.17 out / 1M

205K context · released October 2025

Full page →

Asking all both at once — identical prompt, identical context — costs about 0.49¢ for a typical client proposal.

At a glance

Cheapest input: MiniMax M2 at $0.293 per million tokens.
Cheapest output: DeepSeek V3.1 Terminus at $1.15 per million tokens.
Largest context: MiniMax M2 at 205K tokens — about 290 pages.

Cost per task

Estimated totals at the rates above. Solid bar is input, lighter bar is output.

Quick code fix

2K in · 500 out

DeepSeek V3.1 Terminus

0.12¢

MiniMax M2

0.12¢

Draft a client proposal from notes

5K in · 800 out

DeepSeek V3.1 Terminus

0.25¢

MiniMax M2

0.24¢

Context-heavy session (Alyph workspace)

155K in · 4K out

DeepSeek V3.1 Terminus

needs 155K ctx

MiniMax M2

$0.05

Analyze a 50-page legal contract

35K in · 1K out

DeepSeek V3.1 Terminus

1.2¢

MiniMax M2

1.1¢

Large architecture refactor

250K in · 3K out

DeepSeek V3.1 Terminus

needs 250K ctx

MiniMax M2

needs 250K ctx

Solid part of each bar is input tokens, the lighter part is output. Models that don’t fit a task are marked instead of priced.

Cost vs Token Amount

Drag the slider to adjust the split between input and output workload.

80% Input20% Output

DeepSeek V3.1 Terminus

MiniMax M2

Adjust the ratio slider to change how output tokens influence the final price for equivalent workloads.

Pricing

DeepSeek V3.1 Terminus

MiniMax M2

Input / 1M tokens

$0.310

$0.293

Output / 1M tokens

$1.15

$1.17

Cached input / 1M

$0.155

—

Specs

DeepSeek V3.1 Terminus

MiniMax M2

Provider

DeepSeek

MiniMax

Released

September 2025

October 2025

Context window

131K

205K

Max output

33K

131K

Input

Text

Output

Text

Reasoning

Shows its thinking

Knowledge cutoff

2025-03-31

—

Try it with real numbers

2K tokens in · 500 tokens out.

DeepSeek V3.1 Terminus

DeepSeek

0.12¢

for this task

52% input · 48% output

Full pricing →

MiniMax M2

MiniMax

0.12¢

for this task

50% input · 50% output

Full pricing →

All 2, same prompt and context: 0.24¢. That is the entire cost of the comparison.

Your $5 welcome credit covers about 2,110 of these.

Which should you pick?

For long documents, MiniMax M2 has the largest context window here — 205K tokens.

On price, MiniMax M2 is the cheapest of the two on a typical task, at about 0.24¢.

Or don’t pick. Send the identical prompt to all both, read the answers side by side, and keep the winner. How to run a fair bake-off →

DeepSeek V3.1 Terminus pricing →MiniMax M2 pricing →Add Lyria 3 Clip Preview Add Grok 4.20

Questions, answered

Which is cheaper, DeepSeek V3.1 Terminus or MiniMax M2?

On a typical client proposal (5K tokens in, 800 out): MiniMax M2 at 0.24¢; DeepSeek V3.1 Terminus at 0.25¢. Long prompts can change the order when long-context rates apply.

Which has the largest context window?

MiniMax M2 — 205K tokens, about 290 pages.

Can I run DeepSeek V3.1 Terminus and MiniMax M2 side by side on Alyph?

Yes — that is what Alyph is built for: the identical prompt with identical context to all 2, answers rendered side by side, billed from one wallet. This exact combination costs about 0.49¢ for a typical task.

Ask both at once

Identical prompt, identical context, answers side by side — about 0.49¢ for a typical client proposal. Free to start, with $5 of credit.