DeepSeek V3.2 vs DeepSeek V4
Benchmarks, API pricing and specs, head to head. Data updated 2026-06-10.
DeepSeek V3.2
68.4DeepSeek · Sep 2025
The sparse-attention release that halved DeepSeek's already-lowest-in-class prices while keeping GPT-class quality.
DeepSeek V4
DeepSeek · Mar 2026
The open-weights shock of 2026: ~81% SWE-bench Verified, a 1M context and MIT license at $0.30/$0.50 per million tokens.
The verdict
DeepSeek V4 wins 1 of the 1 benchmarks these models share, against 0 for DeepSeek V3.2. DeepSeek V3.2 is about 1.1x cheaper per blended million tokens (3:1 input:output mix). DeepSeek V4 also takes 1M of context versus 128K for DeepSeek V3.2.
Benchmark head-to-head 0–1
Specs & pricing
| DeepSeek V3.2 | DeepSeek V4 | |
|---|---|---|
| modhub Index | 68.4 | — |
| Input price / 1M | $0.28 | $0.3 |
| Output price / 1M | $0.42 | $0.5 |
| Context window | 128K | 1M |
| Max output | 64K | 64K |
| Open weights | yes (MIT) | yes (MIT) |
| Reasoning model | yes | yes |
| Multimodal input | text | text |
| Knowledge cutoff | Jul 2025 | Dec 2025 |
| Released | Sep 2025 | Mar 2026 |
| Example monthly cost* | $3.43 | $3.75 |
* 10M input + 1.5M output tokens per month at list prices, no caching. Green = better value on that row.
Frequently asked questions
- Which is better, DeepSeek V3.2 or DeepSeek V4?
- DeepSeek V4 wins 1 of the 1 benchmarks these models share, against 0 for DeepSeek V3.2. DeepSeek V3.2 is about 1.1x cheaper per blended million tokens (3:1 input:output mix). DeepSeek V4 also takes 1M of context versus 128K for DeepSeek V3.2.
- Which is cheaper, DeepSeek V3.2 or DeepSeek V4?
- DeepSeek V3.2 costs $0.28/$0.42 per million input/output tokens, while DeepSeek V4 costs $0.3/$0.5. For a typical workload of 10M input and 1.5M output tokens per month, that's $3.43 versus $3.75.
- Which model is better for coding, DeepSeek V3.2 or DeepSeek V4?
- On SWE-bench Verified — the standard agentic-coding benchmark — DeepSeek V4 scores ~81% versus 67.8% for DeepSeek V3.2, making DeepSeek V4 the stronger pick for coding agents.