As of August 20, 2026, MiniMax M2 and MiniMax M2.5 have the same blended API cost at $1.50 per 1 million input plus 1 million output tokens. MiniMax M2 is $0.30 / $1.20 per million tokens versus MiniMax M2.5 at $0.30 / $1.20. Source: https://anotherwrapper.com/tools/llm-pricing
Source: AnotherWrapper LLM pricing (https://anotherwrapper.com/tools/llm-pricing)
MiniMax M2
MiniMax
Input
$0.30
Output
$1.20
MiniMax M2.5
MiniMax
Input
$0.30
Output
$1.20
Token pricing, specs, and benchmarks side by side
MiniMax M2MiniMax M2.5Verdict
MiniMax M2 offers significantly lower pricing, while MiniMax M2.5 leads on benchmark performance. Your choice depends on whether cost efficiency or raw capability matters more for your use case.
As of August 20, 2026, MiniMax M2 is 0% cheaper on blended LLM API pricing. MiniMax M2 costs $0.30 per million input tokens and $1.20 per million output tokens ($1.50 blended 1M-in + 1M-out). MiniMax M2.5 costs $0.30 / $1.20 per million tokens ($1.50 blended). Sources: https://anotherwrapper.com/tools/llm-pricing and https://anotherwrapper.com/tools/llm-pricing. The cheapest LLM for your app still depends on how many output tokens you generate.
MiniMax M2 MiniMax API pricing is $0.30 input and $1.20 output per million tokens via MiniMax. MiniMax M2.5 MiniMax API pricing is $0.30 input and $1.20 output per million tokens via MiniMax. Use those four numbers, not ChatGPT Plus or Claude Pro subscription prices, when you are comparing APIs.
MiniMax M2.5 leads on SWE-bench Verified: MiniMax M2 at 69.4% vs MiniMax M2.5 at 80.2%. SWE-bench measures real GitHub fixes; LiveCodeBench measures contest programming.
MiniMax M2 supports a 1M token context window, while MiniMax M2.5 supports 1M tokens. Both models have the same context window size. Filling a larger window bills more input tokens, so the cheaper-per-million model can still cost more on long documents.
MiniMax M2.5 leads on 5 of 8 shared benchmarks versus MiniMax M2's 3 wins. Check the comparison table for GPQA Diamond, SWE-bench, MMLU, HLE, and the other evals we track. Token price and benchmark score together are the usual LLM comparison, not either number alone.
Both MiniMax M2 and MiniMax M2.5 are production API models. For cost-sensitive production traffic, MiniMax M2 has better economics on the blended 1M-in + 1M-out scale. For maximum capability, weight the benchmark table for your domain. Many production stacks route cheap models for drafts and a frontier model for the hard turn, which is usually cheaper than sending everything to the expensive API.
Yes. Call MiniMax M2 through MiniMax and MiniMax M2.5 through MiniMax with separate API keys, or through a gateway that already wraps both. Keep prompts in tokens, not characters, when you estimate the invoice. AnotherWrapper templates can swap providers without rewriting auth and billing.
List rates are the latest published MiniMax API pricing and MiniMax API pricing, quoted per million tokens. Official rate sheets: https://anotherwrapper.com/tools/llm-pricing and https://anotherwrapper.com/tools/llm-pricing. Prompt caching, batch APIs, and committed-use discounts can change the invoice. Benchmark scores are from official publications and independent evals, updated as new numbers land.
MiniMax M2 supports up to 1M output tokens per request, while MiniMax M2.5 supports up to 1M output tokens. Output tokens are usually the expensive half of API pricing, so a higher max output cap is a capability, not a discount.
MiniMax M2 runs at approximately 70 tokens/second while MiniMax M2.5 runs at 100 tokens/second. MiniMax M2.5 is faster in raw throughput. Throughput (tokens per second) and time-to-first-token are why two models with the same per-million-token price can still feel different in chat and agents.
Use the model pickers at the top of this LLM comparison. Search any model in the index and the URL updates. Open MiniMax M2 or MiniMax M2.5 from the sidebar for the single-model API pricing page, or go back to the LLM pricing table to sort by cheapest blended cost.
This comparison covers API pricing, context window, throughput, and benchmark scores. MiniMax M2 costs $0.30/M input and $1.20/M output. MiniMax M2.5 costs $0.30/M input and $1.20/M output.
Rank both on the LLM leaderboard, SWE-bench, and Humanity's Last Exam.
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