As of August 20, 2026, QwQ-32B-Preview is 6% cheaper per million tokens than Mistral Small. Mistral Small is $0.20 / $0.60 per million input/output tokens versus QwQ-32B-Preview at $0.15 / $0.60. Sources: https://docs.mistral.ai/platform/pricing/ and https://bailian.console.aliyun.com/
Sources: Mistral AI pricing (https://docs.mistral.ai/platform/pricing/); Qwen pricing (https://bailian.console.aliyun.com/)
Mistral Small
Mistral
Input
$0.20
Output
$0.60
QwQ-32B-Preview
Qwen
Input
$0.15
Output
$0.60
Token pricing, specs, and benchmarks side by side
Mistral SmallQwQ-32B-PreviewVerdict
Both models are closely matched on benchmarks. QwQ-32B-Preview has the pricing advantage, making it the better value unless Mistral Small's specific capabilities are critical to your workflow.
As of August 20, 2026, QwQ-32B-Preview is 6% cheaper on blended LLM API pricing. QwQ-32B-Preview costs $0.15 per million input tokens and $0.60 per million output tokens ($0.75 blended 1M-in + 1M-out). Mistral Small costs $0.20 / $0.60 per million tokens ($0.80 blended). Sources: https://docs.mistral.ai/platform/pricing/ and https://bailian.console.aliyun.com/. The cheapest LLM for your app still depends on how many output tokens you generate.
Mistral Small Mistral API pricing is $0.20 input and $0.60 output per million tokens via Mistral AI. QwQ-32B-Preview Qwen API pricing is $0.15 input and $0.60 output per million tokens via Qwen. Use those four numbers, not ChatGPT Plus or Claude Pro subscription prices, when you are comparing APIs.
QwQ-32B-Preview has a published LiveCodeBench score of 50%. Mistral Small does not have that eval on this page yet.
Mistral Small supports a 33K token context window, while QwQ-32B-Preview supports 33K 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.
Shared benchmark scores for Mistral Small and QwQ-32B-Preview are still limited. Check the comparison table for the evals each model has published. 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 Mistral Small and QwQ-32B-Preview are production API models. For cost-sensitive production traffic, QwQ-32B-Preview 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 Mistral Small through Mistral AI and QwQ-32B-Preview through Qwen 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 Mistral API pricing and Qwen API pricing, quoted per million tokens. Official rate sheets: https://docs.mistral.ai/platform/pricing/ and https://bailian.console.aliyun.com/. 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.
Mistral Small supports up to 33K output tokens per request, while QwQ-32B-Preview supports up to 33K output tokens. Output tokens are usually the expensive half of API pricing, so a higher max output cap is a capability, not a discount.
Mistral Small runs at approximately 0.1 tokens/second while QwQ-32B-Preview runs at 76.04 tokens/second. QwQ-32B-Preview 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 Mistral Small or QwQ-32B-Preview 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. Mistral Small costs $0.20/M input and $0.60/M output via Mistral AI. QwQ-32B-Preview costs $0.15/M input and $0.60/M output.
Rank both on the LLM leaderboard, SWE-bench, and Humanity's Last Exam.
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