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DeepSeek V4 Pro vs Mistral Large
A straight cost comparison of DeepSeek V4 Pro (DeepSeek) and Mistral Large (Mistral AI), per 1,000,000 tokens, verified November 2026.
Rate-by-rate comparison
| Metric | DeepSeek V4 Pro | Mistral Large | Winner |
|---|---|---|---|
| Input / 1M | $1.32 | $2 | DeepSeek V4 Pro |
| Cached input / 1M | $0.044 | $0.20 | DeepSeek V4 Pro |
| Cache write / 1M |  |  | Tie |
| Output / 1M | $3.96 | $6 | DeepSeek V4 Pro |
| Context window | 1,000,000 | 128,000 | DeepSeek V4 Pro |
| Batch API | No | Yes | Mistral Large |
| Long-context tier | None | None |  |
For per-token metrics, the lower number wins. For context window and batch support, the higher or broader option wins. A dash means the provider does not publish that rate: a missing cache-write fee means writes are not billed per token, while a missing cached-input rate means cache hits bill at the full input rate.
Blended cost: 1M input + 250K output
| Model | Blended cost | Difference |
|---|---|---|
| DeepSeek V4 Pro | $2.31 | Cheaper |
| Mistral Large | $3.50 | +$1.19 |
Ten workloads, two bills
The same two models, priced across ten workloads that differ only in their input:output ratio. Nothing else changes  no retries, no system prompt, no middleware.
| Workload | DeepSeek V4 Pro | Mistral Large | Winner |
|---|---|---|---|
| Classification 100K reqs · 500 in / 10 out | $69.96 | $106 | DeepSeek V4 Pro |
| Data extraction 10K reqs · 2K in / 200 out | $34.32 | $52 | DeepSeek V4 Pro |
| Support chat 1K reqs · 4K in / 600 out | $7.66 | $11.60 | DeepSeek V4 Pro |
| Code review 2K reqs · 8K in / 1.5K out | $33 | $50 | DeepSeek V4 Pro |
| Summarisation 1K reqs · 20K in / 1K out | $30.36 | $46 | DeepSeek V4 Pro |
| Agent loop 5K reqs · 12K in / 2K out | $119 | $180 | DeepSeek V4 Pro |
| Translation 500 reqs · 15K in / 15K out | $39.60 | $60 | DeepSeek V4 Pro |
| Long-document QA 200 reqs · 120K in / 800 out | $32.31 | $48.96 | DeepSeek V4 Pro |
| Cached RAG 1K reqs · 50K in (45K cached) / 1K out | $12.60 | $25.08 | DeepSeek V4 Pro |
| Nightly batch 10K reqs · 10K in / 2K out | $211 | $160 | Mistral Large |
DeepSeek V4 Pro wins 9 of 10, Mistral Large wins 1 of 10. The winner is set by the token mix, not by the headline rate.
Where the two bills cross over
DeepSeek V4 Pro is cheaper on both sides of the mix: $1.32 vs $2 per million input tokens, and $3.96 vs $6 per million output. No input:output ratio reverses that, so on price alone the other model never becomes the better choice  it has to win on context, latency or output quality.
Cost at four scales
The same support-chat workload (4K input, 600 output per request) at four monthly volumes.
| Requests / month | DeepSeek V4 Pro | Mistral Large | Difference |
|---|---|---|---|
| 100 | $0.766 | $1.16 | DeepSeek V4 Pro cheaper by $0.394 |
| 1,000 | $7.66 | $11.60 | DeepSeek V4 Pro cheaper by $3.94 |
| 10,000 | $76.56 | $116 | DeepSeek V4 Pro cheaper by $39.44 |
| 100,000 | $766 | $1,160 | DeepSeek V4 Pro cheaper by $394 |
What caching does to each bill
Caching only helps the part of the prompt that repeats. This is the support-chat workload (1,000 requests, 4,000 input tokens each) with an increasing share of that prompt served from a warm cache, written once on the first request.
| Cached share of the prompt | DeepSeek V4 Pro | Mistral Large | Winner |
|---|---|---|---|
| 0% | $7.66 | $11.60 | DeepSeek V4 Pro |
| 50% | $5.11 | $8 | DeepSeek V4 Pro |
| 80% | $3.58 | $5.85 | DeepSeek V4 Pro |
| 95% | $2.81 | $4.77 | DeepSeek V4 Pro |
Both models publish a cached-read rate, so the discount is comparable: DeepSeek V4 Pro reads cache at $0.044 per million, Mistral Large at $0.20.
Which one should you pick?
DeepSeek V4 Pro wins on classification, data extraction, support chat, code review, summarisation, agent loop, translation, long-document qa, cached rag, while Mistral Large wins on nightly batch.
Beyond price, the two differ on input rate ($1.32 vs $2); output rate ($3.96 vs $6); cached-input rate ($0.044 vs $0.20); context window (1,000,000 vs 128,000); batch support (no vs yes).
Batch mode is available on Mistral Large, which halves the nightly job. Both publish cached-input discounts, so a stable system prompt is worth caching on either.
FAQ
Is DeepSeek V4 Pro cheaper than Mistral Large?
On a blended 1M-input-plus-250K-output workload, DeepSeek V4 Pro is cheaper by 34% ($2.31 vs $3.50). The gap changes for cache-heavy prompts and for batch jobs, as the workload table shows.
Which handles longer prompts, DeepSeek V4 Pro or Mistral Large?
Mistral Large has the larger context window (1,000,000 vs 128,000 tokens). Neither model publishes a long-context surcharge.
Do both models support prompt caching?
DeepSeek V4 Pro bills cached reads at $0.044 per 1M; Mistral Large at $0.20.
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