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DeepSeek V4 Flash 0423 vs MiniMax M2.1

DeepSeek V4 Flash 0423 leads MiniMax M2.1 on the Artificial Analysis Intelligence Index, 24.4 to 20.9, and DeepSeek V4 Flash 0423 costs 4.3x less per output token ($0.28 vs $1.20 per million). Updated October 22, 2026; 9 benchmarks have a result for both.

Replace DeepSeek V4 Flash 0423 Replace MiniMax M2.1
DeepSeek V4 Flash 0423DeepSeek
Coding
No data
Overall
No data
Output $/M
$0.28
7
MiniMax M2.1MiniMax
Coding
No data
Overall
No data
Output $/M
$1.20
2
vs boards won of 9 shared

DeepSeek V4 Flash 0423 or MiniMax M2.1: which to pick

Neither model has a coding score yet, so the two cannot be ranked on coding.

Pick DeepSeek V4 Flash 0423 for output tokens 4.3x cheaper ($0.28 vs $1.20 per million) and a larger context window (1.05M against 205K tokens).

Model ADeepSeek V4 Flash 0423DeepSeekNot benchmarked1 independent benchmarkNo cost per solved taskModel BMiniMax M2.1MiniMaxNot benchmarked1 independent benchmark$0.59 per solved task
Shared results
9
DeepSeek V4 Flash 0423 only
40
MiniMax M2.1 only
25
Like-for-like categories
3 of 9

Only benchmarks that tested both models count toward a pick; a result only one model has is shown but not compared.

Which one for your work

Each card is decided by one number both models carry. Where only one has it, the card says so and makes no call.

At a glance

Coding index
DeepSeek V4 Flash 0423 not benchmarked, MiniMax M2.1 not benchmarked.
Widest category
Web design, 4.8 points apart on average over 7 shared benchmarks.
Widest single gap
Design Arena: data viz: DeepSeek V4 Flash 0423 1127 against MiniMax M2.1 1206, 9.9 points apart on a 0 to 100 scale.
Output price
DeepSeek V4 Flash 0423 $0.28 against MiniMax M2.1 $1.20 per million output tokens, 4.3x apart.
Context window
DeepSeek V4 Flash 0423 takes 1.05M tokens, MiniMax M2.1 205K.

Benchmark by benchmark

First the score: boards each model leads, per category, where both have a result. Then every board, a category to a fold; bars are each result on a 0 to 100 scale, so compare the two in a row, not one row with another.

Boards won, where both have a result
CategoryDeepSeek V4 Flash 0423BarsMiniMax M2.1Ties
Coding10
Intelligence10
Web design52
All shared boards72
CodingLike-for-likeSix of these boards feed the Vibe Coding Index10
Coding benchmarks for DeepSeek V4 Flash 0423 and MiniMax M2.1
BenchmarkDeepSeek V4 Flash 0423MiniMax M2.1Leader
LMArena WebDev1582Not measuredOnly DeepSeek V4 Flash 0423 measured
AA Coding Index52.0Not measuredOnly DeepSeek V4 Flash 0423 measured
LiveCodeBench (Vals AI)Not measured81.8%Only MiniMax M2.1 measured
SWE-bench Verified (Vals AI)Not measured74.8%Only MiniMax M2.1 measured
LiveCodeBench (Artificial Analysis run)Not measured81.0%Only MiniMax M2.1 measured
Terminal-Bench Hard (Artificial Analysis run)Not measured28.8%Only MiniMax M2.1 measured
Terminal-BenchNot measured36.6%Only MiniMax M2.1 measured
WeirdML45.6%Not measuredOnly DeepSeek V4 Flash 0423 measured
ALE-Bench678.2623.8DeepSeek V4 Flash 0423
LMArena Text: coding1457Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: software and IT1453Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena WebDev: React1585Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena WebDev: HTML1558Not measuredOnly DeepSeek V4 Flash 0423 measured
Neither model has a result on the other 26 boards here
IntelligenceLike-for-likePublic boards, shown as published, kept out of the index10
Intelligence benchmarks for DeepSeek V4 Flash 0423 and MiniMax M2.1
BenchmarkDeepSeek V4 Flash 0423MiniMax M2.1Leader
AA Intelligence Index24.420.9DeepSeek V4 Flash 0423
Epoch Capabilities Index146.1Not measuredOnly DeepSeek V4 Flash 0423 measured
Agentic workDirectional onlyPublic boards, shown as published, kept out of the index2 boards, none shared
Agentic work benchmarks for DeepSeek V4 Flash 0423 and MiniMax M2.1
BenchmarkDeepSeek V4 Flash 0423MiniMax M2.1Leader
AA Agentic Index26.3Not measuredOnly DeepSeek V4 Flash 0423 measured
τ²-Bench TelecomNot measured85.4%Only MiniMax M2.1 measured
Neither model has a result on the other 39 boards here
ReasoningDirectional onlyPublic boards, shown as published, kept out of the index8 boards, none shared
Reasoning benchmarks for DeepSeek V4 Flash 0423 and MiniMax M2.1
BenchmarkDeepSeek V4 Flash 0423MiniMax M2.1Leader
GPQA DiamondNot measured78.5%Only MiniMax M2.1 measured
GPQA Diamond (Artificial Analysis run)Not measured83.0%Only MiniMax M2.1 measured
Humanity's Last Exam (Artificial Analysis run)Not measured23.2%Only MiniMax M2.1 measured
SimpleBench46.3%Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: hard prompts1444Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: expert1441Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: hard prompts in English1449Not measuredOnly DeepSeek V4 Flash 0423 measured
Kagi LLM Benchmark52.2%Not measuredOnly DeepSeek V4 Flash 0423 measured
Neither model has a result on the other 14 boards here
MathDirectional onlyPublic boards, shown as published, kept out of the index7 boards, none shared
Math benchmarks for DeepSeek V4 Flash 0423 and MiniMax M2.1
BenchmarkDeepSeek V4 Flash 0423MiniMax M2.1Leader
AIMENot measured77.9%Only MiniMax M2.1 measured
MATH 500 (Vals AI)Not measured89.0%Only MiniMax M2.1 measured
MGSM (Vals AI)Not measured87.8%Only MiniMax M2.1 measured
AA Math IndexNot measured82.7Only MiniMax M2.1 measured
AIME 2025 (Artificial Analysis run)Not measured82.7%Only MiniMax M2.1 measured
LMArena Text: math1426Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: mathematical work1432Not measuredOnly DeepSeek V4 Flash 0423 measured
Neither model has a result on the other 6 boards here
KnowledgeDirectional onlyPublic boards, shown as published, kept out of the index12 boards, none shared
Knowledge benchmarks for DeepSeek V4 Flash 0423 and MiniMax M2.1
BenchmarkDeepSeek V4 Flash 0423MiniMax M2.1Leader
MMLU ProNot measured87.0%Only MiniMax M2.1 measured
LegalBench (Vals AI)Not measured75.5%Only MiniMax M2.1 measured
CaseLaw (Vals AI)Not measured55.8%Only MiniMax M2.1 measured
CorpFin (Vals AI)Not measured58.9%Only MiniMax M2.1 measured
TaxEval (Vals AI)Not measured66.3%Only MiniMax M2.1 measured
MedQA (Vals AI)Not measured91.2%Only MiniMax M2.1 measured
MedCode (Vals AI)Not measured34.1%Only MiniMax M2.1 measured
MMLU Pro (Artificial Analysis run)Not measured87.5%Only MiniMax M2.1 measured
LMArena Text: science1446Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: medicine and healthcare1448Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: legal and government1439Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: business and finance1425Not measuredOnly DeepSeek V4 Flash 0423 measured
Neither model has a result on the other 6 boards here
Web designLike-for-likePublic boards, shown as published, kept out of the index52
Web design benchmarks for DeepSeek V4 Flash 0423 and MiniMax M2.1
BenchmarkDeepSeek V4 Flash 0423MiniMax M2.1Leader
Design Arena: websites12071201DeepSeek V4 Flash 0423
Design Arena: UI components11621220MiniMax M2.1
Design Arena: game dev11961134DeepSeek V4 Flash 0423
Design Arena: data viz11271206MiniMax M2.1
Design Arena: 3D11881164DeepSeek V4 Flash 0423
Design Arena: all code categories12051190DeepSeek V4 Flash 0423
Design Arena: SVG11551131DeepSeek V4 Flash 0423
Design Arena: ASCII art1109Not measuredOnly DeepSeek V4 Flash 0423 measured
Neither model has a result on the other 1 board here
GeneralDirectional onlyPublic boards, shown as published, kept out of the index22 boards, none shared
General benchmarks for DeepSeek V4 Flash 0423 and MiniMax M2.1
BenchmarkDeepSeek V4 Flash 0423MiniMax M2.1Leader
MedScribe (Vals AI)Not measured80.8%Only MiniMax M2.1 measured
IFBenchNot measured69.9%Only MiniMax M2.1 measured
Long context reasoning (AA-LCR)Not measured67.7%Only MiniMax M2.1 measured
DTBench86.4%Not measuredOnly DeepSeek V4 Flash 0423 measured
LMCA35.9%Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text1432Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: instruction following1421Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: creative writing1403Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: English1441Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: non-English1419Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: Chinese1463Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: German1419Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: Japanese1389Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: Korean1383Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: French1439Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: Spanish1436Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: Russian1427Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: Polish1436Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: multi-turn1449Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: longer queries1434Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: writing and language1410Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: entertainment and media1400Not measuredOnly DeepSeek V4 Flash 0423 measured
Neither model has a result on the other 24 boards here
Image generationNot comparablePublic boards, shown as published, kept out of the index0 boards, none shared
Image generation benchmarks for DeepSeek V4 Flash 0423 and MiniMax M2.1
BenchmarkDeepSeek V4 Flash 0423MiniMax M2.1Leader
Neither model has a result on 5 boards here

What each workload costs

Three fixed token mixes at each model's listed price, so per-token rates become a bill.

Chat turn

1K input + 500 output tokens

DeepSeek V4 Flash 0423$0.0003Fits in one request
MiniMax M2.1$0.0009Fits in one request

DeepSeek V4 Flash 0423 costs less

Repository review

50K input + 3K output tokens

DeepSeek V4 Flash 0423$0.0078Fits in one request
MiniMax M2.1$0.019Fits in one request

DeepSeek V4 Flash 0423 costs less

Agent loop

200K input + 10K output tokens

DeepSeek V4 Flash 0423$0.031Fits in one request
MiniMax M2.1$0.072Exceeds the context window

DeepSeek V4 Flash 0423 costs less

Listed OpenRouter rates, without cache or batch discounts. A workload that does not fit a model's context window would need splitting.

Specification differences

The leading value in a row is marked; a row with a missing value names no leader. Our two rows are marked in red.

Specifications of DeepSeek V4 Flash 0423 and MiniMax M2.1
SpecificationDeepSeek V4 Flash 0423MiniMax M2.1
MakerDeepSeekMiniMax
WeightsOpen weightsOpen weights
ReleasedApril 24, 2026December 23, 2025
Context window1.05M205K
Input $/Mtok$0.14$0.30
Output $/Mtok$0.28$1.20
Coding indexNot benchmarkedNot benchmarked
Independent measurements behind it11
Cost per solved taskNot computable$0.59
SourceOpenRouter listingOpenRouter listing

Questions

Is DeepSeek V4 Flash 0423 better than MiniMax M2.1 for coding?

Neither model has a coding score yet, so the two cannot be ranked on coding. Pick DeepSeek V4 Flash 0423 for output tokens 4.3x cheaper ($0.28 vs $1.20 per million) and a larger context window (1.05M against 205K tokens).

Which is cheaper, DeepSeek V4 Flash 0423 or MiniMax M2.1?

DeepSeek V4 Flash 0423 costs $0.14 per million input tokens and $0.28 per million output tokens; MiniMax M2.1 costs $0.30 and $1.20. Cost per solved task is known for MiniMax M2.1 only.

Which has the bigger context window, DeepSeek V4 Flash 0423 or MiniMax M2.1?

DeepSeek V4 Flash 0423, with 1.05M tokens against 205K.

How many benchmarks is the DeepSeek V4 Flash 0423 vs MiniMax M2.1 comparison based on?

9 benchmarks have a result for both models as of October 22, 2026. DeepSeek V4 Flash 0423's coding index rests on 1 independent benchmark and MiniMax M2.1's on 1. Where only one model has a result, the page says so instead of naming a winner.

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