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GPT-5.4 Nano vs MiniMax M2

GPT-5.4 Nano leads MiniMax M2 on the Artificial Analysis Intelligence Index, 20.7 to 18.6, and MiniMax M2 costs 1.2x less per output token ($1.02 vs $1.25 per million). Updated October 22, 2026; 34 benchmarks have a result for both.

Replace GPT-5.4 Nano Replace MiniMax M2
GPT-5.4 NanoOpenAI
Coding
44.8
Overall
45.7
Output $/M
$1.25
32
MiniMax M2MiniMax
Coding
No data
Overall
No data
Output $/M
$1.02
2
vs boards won of 34 shared

GPT-5.4 Nano or MiniMax M2: which to pick

Only GPT-5.4 Nano has a coding score, 44.8 on the Vibe Coding Index; MiniMax M2 has none, so the two cannot be ranked on coding.

Pick MiniMax M2 for output tokens 1.2x cheaper ($1.02 vs $1.25 per million) and work measured by τ²-Bench Telecom or Kagi LLM Benchmark, where it leads.

Model AGPT-5.4 NanoOpenAI44.8/1002 independent benchmarks$0.14 per solved taskModel BMiniMax M2MiniMaxNot benchmarked1 independent benchmark$0.702 per solved task
Shared results
34
GPT-5.4 Nano only
51
MiniMax M2 only
16
Like-for-like categories
7 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
GPT-5.4 Nano 44.8 from 2 benchmarks, MiniMax M2 not benchmarked.
Widest category
Agentic work, 10.8 points apart on average over 1 shared benchmark.
Widest single gap
Kagi LLM Benchmark: GPT-5.4 Nano 39.7% against MiniMax M2 57.8%, 18.1 points apart on a 0 to 100 scale.
Output price
GPT-5.4 Nano $1.25 against MiniMax M2 $1.02 per million output tokens, 1.2x apart.
Context window
GPT-5.4 Nano takes 400K tokens, MiniMax M2 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
CategoryGPT-5.4 NanoBarsMiniMax M2Ties
Coding30
Intelligence10
Agentic work01
Reasoning51
Math20
Knowledge40
General170
All shared boards322
CodingLike-for-likeSix of these boards feed the Vibe Coding Index30
Coding benchmarks for GPT-5.4 Nano and MiniMax M2
BenchmarkGPT-5.4 NanoMiniMax M2Leader
SWE-bench VerifiedNot measured61.0%Only MiniMax M2 measured
LMArena WebDevNot measured1297Only MiniMax M2 measured
AA Coding Index56.1Not measuredOnly GPT-5.4 Nano measured
LiveCodeBench (Vals AI)84.0%Not measuredOnly GPT-5.4 Nano measured
SWE-bench Verified (Vals AI)69.8%Not measuredOnly GPT-5.4 Nano measured
Vibe Code Bench (Vals AI)26.1%Not measuredOnly GPT-5.4 Nano measured
Code migration (Vals AI)14.5%Not measuredOnly GPT-5.4 Nano measured
Terminal-Bench 2.1 (Vals AI)41.6%Not measuredOnly GPT-5.4 Nano measured
LiveCodeBench (Artificial Analysis run)Not measured82.6%Only MiniMax M2 measured
SciCode47.2%Not measuredOnly GPT-5.4 Nano measured
Terminal-Bench Hard (Artificial Analysis run)42.4%25.8%GPT-5.4 Nano
Terminal-BenchNot measured30.0%Only MiniMax M2 measured
WeirdML49.2%Not measuredOnly GPT-5.4 Nano measured
ALE-Bench1004.5Not measuredOnly GPT-5.4 Nano measured
LMArena Text: coding14041371GPT-5.4 Nano
LMArena Text: software and IT14021373GPT-5.4 Nano
LMArena WebDev: HTMLNot measured1306Only MiniMax M2 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 GPT-5.4 Nano and MiniMax M2
BenchmarkGPT-5.4 NanoMiniMax M2Leader
AA Intelligence Index20.718.6GPT-5.4 Nano
Epoch Capabilities Index146.0Not measuredOnly GPT-5.4 Nano measured
Agentic workLike-for-likePublic boards, shown as published, kept out of the index01
Agentic work benchmarks for GPT-5.4 Nano and MiniMax M2
BenchmarkGPT-5.4 NanoMiniMax M2Leader
AA Agentic Index16.0Not measuredOnly GPT-5.4 Nano measured
Finance Agent (Vals AI)38.2%Not measuredOnly GPT-5.4 Nano measured
Tax Agent Bench (Vals AI)5.0%Not measuredOnly GPT-5.4 Nano measured
Legal Research Bench (Vals AI)6.3%Not measuredOnly GPT-5.4 Nano measured
Excel Modeling Benchmark (Vals AI)44.8%Not measuredOnly GPT-5.4 Nano measured
τ²-Bench Telecom76.0%86.8%MiniMax M2
Vending-Bench 2Not measured$161Only MiniMax M2 measured
Neither model has a result on the other 35 boards here
ReasoningLike-for-likePublic boards, shown as published, kept out of the index51
Reasoning benchmarks for GPT-5.4 Nano and MiniMax M2
BenchmarkGPT-5.4 NanoMiniMax M2Leader
GPQA Diamond77.5%Not measuredOnly GPT-5.4 Nano measured
MMMU Pro (Vals AI)73.6%Not measuredOnly GPT-5.4 Nano measured
GPQA Diamond (Artificial Analysis run)81.7%77.7%GPT-5.4 Nano
Humanity's Last Exam (Artificial Analysis run)28.3%13.7%GPT-5.4 Nano
GPQA Diamond (Epoch AI run)78.5%Not measuredOnly GPT-5.4 Nano measured
ARC-AGI51.5%Not measuredOnly GPT-5.4 Nano measured
ARC-AGI-25.7%Not measuredOnly GPT-5.4 Nano measured
Chess puzzles45.0%Not measuredOnly GPT-5.4 Nano measured
Mystery game puzzles9.0%Not measuredOnly GPT-5.4 Nano measured
LMArena Text: hard prompts13811357GPT-5.4 Nano
LMArena Text: expert13961338GPT-5.4 Nano
LMArena Text: hard prompts in English13871376GPT-5.4 Nano
LMArena Vision: diagrams1210Not measuredOnly GPT-5.4 Nano measured
LMArena Vision: homework1225Not measuredOnly GPT-5.4 Nano measured
Kagi LLM Benchmark39.7%57.8%MiniMax M2
Neither model has a result on the other 8 boards here
MathLike-for-likePublic boards, shown as published, kept out of the index20
Math benchmarks for GPT-5.4 Nano and MiniMax M2
BenchmarkGPT-5.4 NanoMiniMax M2Leader
AIME88.8%Not measuredOnly GPT-5.4 Nano measured
AA Math IndexNot measured78.3Only MiniMax M2 measured
AIME 2025 (Artificial Analysis run)Not measured78.3%Only MiniMax M2 measured
OTIS Mock AIME87.8%Not measuredOnly GPT-5.4 Nano measured
FrontierMath, tiers 1 to 344.9%Not measuredOnly GPT-5.4 Nano measured
FrontierMath, tier 412.2%Not measuredOnly GPT-5.4 Nano measured
ProofBench5.0%Not measuredOnly GPT-5.4 Nano measured
LMArena Text: math14051351GPT-5.4 Nano
LMArena Text: mathematical work14091368GPT-5.4 Nano
Neither model has a result on the other 5 boards here
KnowledgeLike-for-likePublic boards, shown as published, kept out of the index40
Knowledge benchmarks for GPT-5.4 Nano and MiniMax M2
BenchmarkGPT-5.4 NanoMiniMax M2Leader
MMLU Pro77.2%Not measuredOnly GPT-5.4 Nano measured
LegalBench (Vals AI)77.9%Not measuredOnly GPT-5.4 Nano measured
CaseLaw (Vals AI)51.9%Not measuredOnly GPT-5.4 Nano measured
CorpFin (Vals AI)61.2%Not measuredOnly GPT-5.4 Nano measured
TaxEval (Vals AI)67.4%Not measuredOnly GPT-5.4 Nano measured
MortgageTax (Vals AI)59.1%Not measuredOnly GPT-5.4 Nano measured
MedCode (Vals AI)41.0%Not measuredOnly GPT-5.4 Nano measured
MMLU Pro (Artificial Analysis run)Not measured82.0%Only MiniMax M2 measured
SimpleQA Verified11.7%Not measuredOnly GPT-5.4 Nano measured
LMArena Text: science13741348GPT-5.4 Nano
LMArena Text: medicine and healthcare13691367GPT-5.4 Nano
LMArena Text: legal and government13681349GPT-5.4 Nano
LMArena Text: business and finance13661336GPT-5.4 Nano
Neither model has a result on the other 7 boards here
Web designDirectional onlyPublic boards, shown as published, kept out of the index7 boards, none shared
Web design benchmarks for GPT-5.4 Nano and MiniMax M2
BenchmarkGPT-5.4 NanoMiniMax M2Leader
Design Arena: websitesNot measured1143Only MiniMax M2 measured
Design Arena: UI componentsNot measured1134Only MiniMax M2 measured
Design Arena: game devNot measured1118Only MiniMax M2 measured
Design Arena: data vizNot measured1140Only MiniMax M2 measured
Design Arena: 3DNot measured1098Only MiniMax M2 measured
Design Arena: all code categoriesNot measured1135Only MiniMax M2 measured
Design Arena: SVGNot measured1100Only MiniMax M2 measured
Neither model has a result on the other 2 boards here
GeneralLike-for-likePublic boards, shown as published, kept out of the index170
General benchmarks for GPT-5.4 Nano and MiniMax M2
BenchmarkGPT-5.4 NanoMiniMax M2Leader
SAGE (Vals AI)38.1%Not measuredOnly GPT-5.4 Nano measured
MedScribe (Vals AI)77.1%Not measuredOnly GPT-5.4 Nano measured
Vals Multimodal Index47.6%Not measuredOnly GPT-5.4 Nano measured
IFBench75.9%72.3%GPT-5.4 Nano
Long context reasoning (AA-LCR)76.7%64.3%GPT-5.4 Nano
DTBench80.3%Not measuredOnly GPT-5.4 Nano measured
LMCA36.9%Not measuredOnly GPT-5.4 Nano measured
LMArena Text13721340GPT-5.4 Nano
LMArena Text: instruction following13621329GPT-5.4 Nano
LMArena Text: creative writing13151286GPT-5.4 Nano
LMArena Vision1196Not measuredOnly GPT-5.4 Nano measured
LMArena Text: English13811364GPT-5.4 Nano
LMArena Text: non-English13591313GPT-5.4 Nano
LMArena Text: Chinese13911366GPT-5.4 Nano
LMArena Text: German13681357GPT-5.4 Nano
LMArena Text: Japanese1343Not measuredOnly GPT-5.4 Nano measured
LMArena Text: Korean1321Not measuredOnly GPT-5.4 Nano measured
LMArena Text: French13951336GPT-5.4 Nano
LMArena Text: Spanish13711326GPT-5.4 Nano
LMArena Text: Russian13631330GPT-5.4 Nano
LMArena Text: Polish13661312GPT-5.4 Nano
LMArena Text: multi-turn13821361GPT-5.4 Nano
LMArena Text: longer queries13651331GPT-5.4 Nano
LMArena Text: writing and language13381295GPT-5.4 Nano
LMArena Text: entertainment and media13251298GPT-5.4 Nano
LMArena Vision: English1202Not measuredOnly GPT-5.4 Nano measured
LMArena Vision: Chinese1232Not measuredOnly GPT-5.4 Nano measured
LMArena Vision: reading text1204Not measuredOnly GPT-5.4 Nano measured
LMArena Vision: humor1161Not measuredOnly GPT-5.4 Nano measured
LMArena Vision: recognizing things1141Not measuredOnly GPT-5.4 Nano measured
LMArena Vision: creative writing1159Not measuredOnly GPT-5.4 Nano measured
Neither model has a result on the other 17 boards here
Image generationNot comparablePublic boards, shown as published, kept out of the index0 boards, none shared
Image generation benchmarks for GPT-5.4 Nano and MiniMax M2
BenchmarkGPT-5.4 NanoMiniMax M2Leader
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

GPT-5.4 Nano$0.0008Fits in one request
MiniMax M2$0.0008Fits in one request

MiniMax M2 costs less

Repository review

50K input + 3K output tokens

GPT-5.4 Nano$0.014Fits in one request
MiniMax M2$0.016Fits in one request

GPT-5.4 Nano costs less

Agent loop

200K input + 10K output tokens

GPT-5.4 Nano$0.052Fits in one request
MiniMax M2$0.061Exceeds the context window

GPT-5.4 Nano 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 GPT-5.4 Nano and MiniMax M2
SpecificationOpenAI GPT-5.4 NanoMiniMax M2
MakerOpenAIMiniMax
WeightsNo public weights listedOpen weights
ReleasedMarch 17, 2026October 23, 2025
Context window400K205K
Input $/Mtok$0.20$0.255
Output $/Mtok$1.25$1.02
Coding index44.8Not benchmarked
Independent measurements behind it21
Cost per solved task$0.14$0.702
SourceOpenRouter listingOpenRouter listing

Questions

Is GPT-5.4 Nano better than MiniMax M2 for coding?

Only GPT-5.4 Nano has a coding score, 44.8 on the Vibe Coding Index; MiniMax M2 has none, so the two cannot be ranked on coding. Pick MiniMax M2 for output tokens 1.2x cheaper ($1.02 vs $1.25 per million) and work measured by τ²-Bench Telecom or Kagi LLM Benchmark, where it leads.

Which is cheaper, GPT-5.4 Nano or MiniMax M2?

GPT-5.4 Nano costs $0.20 per million input tokens and $1.25 per million output tokens; MiniMax M2 costs $0.255 and $1.02. Per solved SWE-bench Verified task, GPT-5.4 Nano costs $0.14 and MiniMax M2 $0.702.

Which has the bigger context window, GPT-5.4 Nano or MiniMax M2?

GPT-5.4 Nano, with 400K tokens against 205K.

How many benchmarks is the GPT-5.4 Nano vs MiniMax M2 comparison based on?

34 benchmarks have a result for both models as of October 22, 2026. GPT-5.4 Nano's coding index rests on 2 independent benchmarks and MiniMax M2's on 1. Where only one model has a result, the page says so instead of naming a winner.

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