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DeepSeek V4 Flash 0423 vs Mistral Medium 3.5

DeepSeek V4 Flash 0423 leads Mistral Medium 3.5 on the Artificial Analysis Intelligence Index, 24.4 to 14.2, and DeepSeek V4 Flash 0423 costs 26.8x less per output token ($0.28 vs $7.50 per million). Updated October 21, 2026; 46 benchmarks have a result for both.

Replace DeepSeek V4 Flash 0423 Replace Mistral Medium 3.5
DeepSeek V4 Flash 0423DeepSeek
Coding
No data
Overall
No data
Output $/M
$0.28
37
Mistral Medium 3.5Mistral AI
Coding
25.5
Overall
37.3
Output $/M
$7.50
9
vs boards won of 46 shared

DeepSeek V4 Flash 0423 or Mistral Medium 3.5: which to pick

Only Mistral Medium 3.5 has a coding score, 25.5 on the Vibe Coding Index; DeepSeek V4 Flash 0423 has none, so the two cannot be ranked on coding.

Pick DeepSeek V4 Flash 0423 for output tokens 26.8x cheaper ($0.28 vs $7.50 per million) and a larger context window (1.05M against 262K tokens).

Model ADeepSeek V4 Flash 0423DeepSeekNot benchmarked1 independent benchmarkNo cost per solved taskModel BMistral Medium 3.5Mistral AI25.5/1003 independent benchmarks$6.02 per solved task
Shared results
46
DeepSeek V4 Flash 0423 only
3
Mistral Medium 3.5 only
35
Like-for-like categories
8 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, Mistral Medium 3.5 25.5 from 3 benchmarks.
Widest category
Coding, 21.7 points apart on average over 7 shared benchmarks.
Widest single gap
LMArena WebDev: React: DeepSeek V4 Flash 0423 1585 against Mistral Medium 3.5 1254, 55.1 points apart on a 0 to 100 scale.
Output price
DeepSeek V4 Flash 0423 $0.28 against Mistral Medium 3.5 $7.50 per million output tokens, 26.8x apart.
Context window
DeepSeek V4 Flash 0423 takes 1.05M tokens, Mistral Medium 3.5 262K.

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 0423BarsMistral Medium 3.5Ties
Coding43
Intelligence20
Agentic work10
Reasoning40
Math02
Knowledge31
Web design80
General153
All shared boards379
CodingLike-for-likeSix of these boards feed the Vibe Coding Index43
Coding benchmarks for DeepSeek V4 Flash 0423 and Mistral Medium 3.5
BenchmarkDeepSeek V4 Flash 0423Mistral Medium 3.5Leader
LMArena WebDev15821264DeepSeek V4 Flash 0423
AA Coding Index52.046.9DeepSeek V4 Flash 0423
SWE-bench Verified (Vals AI)Not measured66.4%Only Mistral Medium 3.5 measured
Vibe Code Bench (Vals AI)Not measured2.9%Only Mistral Medium 3.5 measured
Code migration (Vals AI)Not measured5.1%Only Mistral Medium 3.5 measured
Terminal-Bench 2.1 (Vals AI)Not measured39.0%Only Mistral Medium 3.5 measured
SciCodeNot measured40.2%Only Mistral Medium 3.5 measured
Terminal-Bench Hard (Artificial Analysis run)Not measured33.3%Only Mistral Medium 3.5 measured
WeirdML45.6%Not measuredOnly DeepSeek V4 Flash 0423 measured
ALE-Bench678.2764.0Mistral Medium 3.5
LMArena Text: coding14571460Mistral Medium 3.5
LMArena Text: software and IT14531458Mistral Medium 3.5
LMArena WebDev: React15851254DeepSeek V4 Flash 0423
LMArena WebDev: HTML15581308DeepSeek V4 Flash 0423
Neither model has a result on the other 25 boards here
IntelligenceLike-for-likePublic boards, shown as published, kept out of the index20
Intelligence benchmarks for DeepSeek V4 Flash 0423 and Mistral Medium 3.5
BenchmarkDeepSeek V4 Flash 0423Mistral Medium 3.5Leader
AA Intelligence Index24.414.2DeepSeek V4 Flash 0423
Epoch Capabilities Index146.1141.4DeepSeek V4 Flash 0423
Agentic workLike-for-likePublic boards, shown as published, kept out of the index10
Agentic work benchmarks for DeepSeek V4 Flash 0423 and Mistral Medium 3.5
BenchmarkDeepSeek V4 Flash 0423Mistral Medium 3.5Leader
AA Agentic Index26.37.0DeepSeek V4 Flash 0423
Finance Agent (Vals AI)Not measured32.1%Only Mistral Medium 3.5 measured
Tax Agent Bench (Vals AI)Not measured4.5%Only Mistral Medium 3.5 measured
Legal Research Bench (Vals AI)Not measured9.1%Only Mistral Medium 3.5 measured
Excel Modeling Benchmark (Vals AI)Not measured11.2%Only Mistral Medium 3.5 measured
τ²-Bench TelecomNot measured94.2%Only Mistral Medium 3.5 measured
Neither model has a result on the other 35 boards here
ReasoningLike-for-likePublic boards, shown as published, kept out of the index40
Reasoning benchmarks for DeepSeek V4 Flash 0423 and Mistral Medium 3.5
BenchmarkDeepSeek V4 Flash 0423Mistral Medium 3.5Leader
GPQA DiamondNot measured34.9%Only Mistral Medium 3.5 measured
GPQA Diamond (Artificial Analysis run)Not measured74.8%Only Mistral Medium 3.5 measured
Humanity's Last Exam (Artificial Analysis run)Not measured13.8%Only Mistral Medium 3.5 measured
SimpleBench46.3%Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: hard prompts14441436DeepSeek V4 Flash 0423
LMArena Text: expert14411432DeepSeek V4 Flash 0423
LMArena Text: hard prompts in English14491445DeepSeek V4 Flash 0423
LMArena Vision: diagramsNot measured1254Only Mistral Medium 3.5 measured
LMArena Vision: homeworkNot measured1230Only Mistral Medium 3.5 measured
Kagi LLM Benchmark52.2%41.4%DeepSeek V4 Flash 0423
Neither model has a result on the other 12 boards here
MathLike-for-likePublic boards, shown as published, kept out of the index02
Math benchmarks for DeepSeek V4 Flash 0423 and Mistral Medium 3.5
BenchmarkDeepSeek V4 Flash 0423Mistral Medium 3.5Leader
ProofBenchNot measured9.0%Only Mistral Medium 3.5 measured
LMArena Text: math14261431Mistral Medium 3.5
LMArena Text: mathematical work14321440Mistral Medium 3.5
Neither model has a result on the other 10 boards here
KnowledgeLike-for-likePublic boards, shown as published, kept out of the index31
Knowledge benchmarks for DeepSeek V4 Flash 0423 and Mistral Medium 3.5
BenchmarkDeepSeek V4 Flash 0423Mistral Medium 3.5Leader
MMLU ProNot measured75.3%Only Mistral Medium 3.5 measured
CaseLaw (Vals AI)Not measured44.2%Only Mistral Medium 3.5 measured
CorpFin (Vals AI)Not measured58.8%Only Mistral Medium 3.5 measured
TaxEval (Vals AI)Not measured68.0%Only Mistral Medium 3.5 measured
MortgageTax (Vals AI)Not measured28.9%Only Mistral Medium 3.5 measured
MedCode (Vals AI)Not measured33.8%Only Mistral Medium 3.5 measured
LMArena Text: science14461428DeepSeek V4 Flash 0423
LMArena Text: medicine and healthcare14481409DeepSeek V4 Flash 0423
LMArena Text: legal and government14391437DeepSeek V4 Flash 0423
LMArena Text: business and finance14251426Mistral Medium 3.5
Neither model has a result on the other 8 boards here
Web designLike-for-likePublic boards, shown as published, kept out of the index80
Web design benchmarks for DeepSeek V4 Flash 0423 and Mistral Medium 3.5
BenchmarkDeepSeek V4 Flash 0423Mistral Medium 3.5Leader
Design Arena: websites12081142DeepSeek V4 Flash 0423
Design Arena: UI components11651079DeepSeek V4 Flash 0423
Design Arena: game dev11971079DeepSeek V4 Flash 0423
Design Arena: data viz11271120DeepSeek V4 Flash 0423
Design Arena: 3D11891061DeepSeek V4 Flash 0423
Design Arena: all code categories12051121DeepSeek V4 Flash 0423
Design Arena: SVG1155950DeepSeek V4 Flash 0423
Design Arena: ASCII art11091063DeepSeek V4 Flash 0423
Neither model has a result on the other 1 board here
GeneralLike-for-likePublic boards, shown as published, kept out of the index153
General benchmarks for DeepSeek V4 Flash 0423 and Mistral Medium 3.5
BenchmarkDeepSeek V4 Flash 0423Mistral Medium 3.5Leader
SAGE (Vals AI)Not measured37.6%Only Mistral Medium 3.5 measured
MedScribe (Vals AI)Not measured67.7%Only Mistral Medium 3.5 measured
Vals Multimodal IndexNot measured34.8%Only Mistral Medium 3.5 measured
IFBenchNot measured68.8%Only Mistral Medium 3.5 measured
Long context reasoning (AA-LCR)Not measured69.3%Only Mistral Medium 3.5 measured
DTBench86.4%75.5%DeepSeek V4 Flash 0423
LMCA35.9%26.1%DeepSeek V4 Flash 0423
Surface Evolver BenchNot measured26.9%Only Mistral Medium 3.5 measured
LMArena Text14321421DeepSeek V4 Flash 0423
LMArena Text: instruction following14211415DeepSeek V4 Flash 0423
LMArena Text: creative writing14031374DeepSeek V4 Flash 0423
LMArena VisionNot measured1222Only Mistral Medium 3.5 measured
LMArena Text: English14411433DeepSeek V4 Flash 0423
LMArena Text: non-English14191404DeepSeek V4 Flash 0423
LMArena Text: Chinese14631444DeepSeek V4 Flash 0423
LMArena Text: German14191453Mistral Medium 3.5
LMArena Text: Japanese1389Not measuredOnly DeepSeek V4 Flash 0423 measured
LMArena Text: Korean13831384Mistral Medium 3.5
LMArena Text: French14391448Mistral Medium 3.5
LMArena Text: Spanish14361411DeepSeek V4 Flash 0423
LMArena Text: Russian14271395DeepSeek V4 Flash 0423
LMArena Text: Polish14361430DeepSeek V4 Flash 0423
LMArena Text: multi-turn14491423DeepSeek V4 Flash 0423
LMArena Text: longer queries14341415DeepSeek V4 Flash 0423
LMArena Text: writing and language14101384DeepSeek V4 Flash 0423
LMArena Text: entertainment and media14001382DeepSeek V4 Flash 0423
LMArena Vision: EnglishNot measured1240Only Mistral Medium 3.5 measured
LMArena Vision: ChineseNot measured1244Only Mistral Medium 3.5 measured
LMArena Vision: reading textNot measured1233Only Mistral Medium 3.5 measured
LMArena Vision: humorNot measured1216Only Mistral Medium 3.5 measured
LMArena Vision: creative writingNot measured1198Only Mistral Medium 3.5 measured
Neither model has a result on the other 15 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 Mistral Medium 3.5
BenchmarkDeepSeek V4 Flash 0423Mistral Medium 3.5Leader
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
Mistral Medium 3.5$0.0053Fits in one request

DeepSeek V4 Flash 0423 costs less

Repository review

50K input + 3K output tokens

DeepSeek V4 Flash 0423$0.0073Fits in one request
Mistral Medium 3.5$0.098Fits in one request

DeepSeek V4 Flash 0423 costs less

Agent loop

200K input + 10K output tokens

DeepSeek V4 Flash 0423$0.029Fits in one request
Mistral Medium 3.5$0.375Fits in one request

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 Mistral Medium 3.5
SpecificationDeepSeek V4 Flash 0423Mistral Medium 3.5
MakerDeepSeekMistral AI
WeightsOpen weightsNo public weights listed
ReleasedApril 24, 2026April 30, 2026
Context window1.05M262K
Input $/Mtok$0.13$1.50
Output $/Mtok$0.28$7.50
Coding indexNot benchmarked25.5
Independent measurements behind it13
Cost per solved taskNot computable$6.02
SourceOpenRouter listingOpenRouter listing

Questions

Is DeepSeek V4 Flash 0423 better than Mistral Medium 3.5 for coding?

Only Mistral Medium 3.5 has a coding score, 25.5 on the Vibe Coding Index; DeepSeek V4 Flash 0423 has none, so the two cannot be ranked on coding. Pick DeepSeek V4 Flash 0423 for output tokens 26.8x cheaper ($0.28 vs $7.50 per million) and a larger context window (1.05M against 262K tokens).

Which is cheaper, DeepSeek V4 Flash 0423 or Mistral Medium 3.5?

DeepSeek V4 Flash 0423 costs $0.13 per million input tokens and $0.28 per million output tokens; Mistral Medium 3.5 costs $1.50 and $7.50. Cost per solved task is known for Mistral Medium 3.5 only.

Which has the bigger context window, DeepSeek V4 Flash 0423 or Mistral Medium 3.5?

DeepSeek V4 Flash 0423, with 1.05M tokens against 262K.

How many benchmarks is the DeepSeek V4 Flash 0423 vs Mistral Medium 3.5 comparison based on?

46 benchmarks have a result for both models as of October 21, 2026. DeepSeek V4 Flash 0423's coding index rests on 1 independent benchmark and Mistral Medium 3.5's on 3. Where only one model has a result, the page says so instead of naming a winner.

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