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MiniMax M2 vs o4 Mini

MiniMax M2 leads o4 Mini on the Artificial Analysis Intelligence Index, 18.6 to 16.7, and MiniMax M2 costs 4.3x less per output token ($1.02 vs $4.40 per million). Updated October 21, 2026; 45 benchmarks have a result for both.

Replace MiniMax M2 Replace o4 Mini
MiniMax M2MiniMax
Coding
No data
Overall
No data
Output $/M
$1.02
22
o4 MiniOpenAI
Coding
No data
Overall
43.0
Output $/M
$4.40
23
vs boards won of 45 shared

MiniMax M2 or o4 Mini: which to pick

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

Pick MiniMax M2 for output tokens 4.3x cheaper ($1.02 vs $4.40 per million) and a larger context window (205K against 200K tokens).

Model AMiniMax M2MiniMaxNot benchmarked1 independent benchmark$0.702 per solved taskModel Bo4 MiniOpenAINot benchmarkedNo coding benchmarkNo cost per solved task
Shared results
45
MiniMax M2 only
5
o4 Mini only
53
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
MiniMax M2 not benchmarked, o4 Mini not benchmarked.
Widest category
Agentic work, 31.3 points apart on average over 1 shared benchmark.
Widest single gap
τ²-Bench Telecom: MiniMax M2 86.8% against o4 Mini 55.6%, 31.3 points apart on a 0 to 100 scale.
Output price
MiniMax M2 $1.02 against o4 Mini $4.40 per million output tokens, 4.3x apart.
Context window
MiniMax M2 takes 205K tokens, o4 Mini 200K.

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
CategoryMiniMax M2Barso4 MiniTies
Coding32
Intelligence10
Agentic work10
Reasoning24
Math04
Knowledge23
Web design60
General710
All shared boards2223
CodingLike-for-likeSix of these boards feed the Vibe Coding Index32
Coding benchmarks for MiniMax M2 and o4 Mini
BenchmarkMiniMax M2o4 MiniLeader
Aider polyglotNot measured72.0%Only o4 Mini measured
SWE-bench Verified61.0%64.6%o4 Mini
SWE-bench MultimodalNot measured33.9%Only o4 Mini measured
LMArena WebDev1297Not measuredOnly MiniMax M2 measured
LiveCodeBench (Vals AI)Not measured82.2%Only o4 Mini measured
LiveCodeBench (Artificial Analysis run)82.6%85.9%o4 Mini
Terminal-Bench Hard (Artificial Analysis run)25.8%15.2%MiniMax M2
Terminal-Bench30.0%Not measuredOnly MiniMax M2 measured
GSO-BenchNot measured3.6%Only o4 Mini measured
WeirdMLNot measured52.6%Only o4 Mini measured
LMArena Text: coding13711368MiniMax M2
LMArena Text: software and IT13731367MiniMax M2
LMArena WebDev: HTML1306Not measuredOnly MiniMax M2 measured
SciCodeNot measured10.8%Only o4 Mini measured
Neither model has a result on the other 25 boards here
IntelligenceLike-for-likePublic boards, shown as published, kept out of the index10
Intelligence benchmarks for MiniMax M2 and o4 Mini
BenchmarkMiniMax M2o4 MiniLeader
AA Intelligence Index18.616.7MiniMax M2
Epoch Capabilities IndexNot measured145.5Only o4 Mini measured
Agentic workLike-for-likePublic boards, shown as published, kept out of the index10
Agentic work benchmarks for MiniMax M2 and o4 Mini
BenchmarkMiniMax M2o4 MiniLeader
τ²-Bench Telecom86.8%55.6%MiniMax M2
METR time horizonsNot measured63.9%Only o4 Mini measured
Vending-Bench 2$161Not measuredOnly MiniMax M2 measured
Berkeley Function Calling Leaderboard (BFCL)Not measured53.2%Only o4 Mini measured
Neither model has a result on the other 37 boards here
ReasoningLike-for-likePublic boards, shown as published, kept out of the index24
Reasoning benchmarks for MiniMax M2 and o4 Mini
BenchmarkMiniMax M2o4 MiniLeader
GPQA DiamondNot measured74.5%Only o4 Mini measured
MMMU Pro (Vals AI)Not measured79.7%Only o4 Mini measured
GPQA Diamond (Artificial Analysis run)77.7%78.4%o4 Mini
Humanity's Last Exam (Artificial Analysis run)13.7%16.5%o4 Mini
GPQA Diamond (Epoch AI run)Not measured79.6%Only o4 Mini measured
ARC-AGINot measured58.7%Only o4 Mini measured
ARC-AGI-2Not measured6.1%Only o4 Mini measured
SimpleBenchNot measured38.7%Only o4 Mini measured
Chess puzzlesNot measured22.0%Only o4 Mini measured
Mystery game puzzlesNot measured5.0%Only o4 Mini measured
VPCTNot measured57.5%Only o4 Mini measured
LMArena Text: hard prompts13571351MiniMax M2
LMArena Text: expert13381343o4 Mini
LMArena Text: hard prompts in English13761366MiniMax M2
LMArena Vision: diagramsNot measured1197Only o4 Mini measured
LMArena Vision: homeworkNot measured1234Only o4 Mini measured
Kagi LLM Benchmark57.8%67.6%o4 Mini
Neither model has a result on the other 5 boards here
MathLike-for-likePublic boards, shown as published, kept out of the index04
Math benchmarks for MiniMax M2 and o4 Mini
BenchmarkMiniMax M2o4 MiniLeader
AIMENot measured83.7%Only o4 Mini measured
MATH 500 (Vals AI)Not measured94.2%Only o4 Mini measured
MGSM (Vals AI)Not measured93.4%Only o4 Mini measured
AA Math Index78.390.7o4 Mini
AIME 2025 (Artificial Analysis run)78.3%90.7%o4 Mini
OTIS Mock AIMENot measured81.7%Only o4 Mini measured
FrontierMath, tiers 1 to 3Not measured36.1%Only o4 Mini measured
FrontierMath, tier 4Not measured4.9%Only o4 Mini measured
MATH level 5Not measured97.8%Only o4 Mini measured
LMArena Text: math13511389o4 Mini
LMArena Text: mathematical work13681379o4 Mini
Neither model has a result on the other 2 boards here
KnowledgeLike-for-likePublic boards, shown as published, kept out of the index23
Knowledge benchmarks for MiniMax M2 and o4 Mini
BenchmarkMiniMax M2o4 MiniLeader
MMLU ProNot measured80.6%Only o4 Mini measured
LegalBench (Vals AI)Not measured79.2%Only o4 Mini measured
CorpFin (Vals AI)Not measured59.0%Only o4 Mini measured
TaxEval (Vals AI)Not measured74.8%Only o4 Mini measured
MortgageTax (Vals AI)Not measured64.8%Only o4 Mini measured
MedQA (Vals AI)Not measured96.0%Only o4 Mini measured
MedCode (Vals AI)Not measured33.8%Only o4 Mini measured
MMLU Pro (Artificial Analysis run)82.0%83.2%o4 Mini
SimpleQA VerifiedNot measured19.6%Only o4 Mini measured
GeoBenchNot measured64.0%Only o4 Mini measured
LMArena Text: science13481354o4 Mini
LMArena Text: medicine and healthcare13671361MiniMax M2
LMArena Text: legal and government13491350o4 Mini
LMArena Text: business and finance13361325MiniMax M2
FACTS Benchmark SuiteNot measured28.1%Only o4 Mini measured
Neither model has a result on the other 3 boards here
Web designLike-for-likePublic boards, shown as published, kept out of the index60
Web design benchmarks for MiniMax M2 and o4 Mini
BenchmarkMiniMax M2o4 MiniLeader
Design Arena: websites1143985MiniMax M2
Design Arena: UI components1136983MiniMax M2
Design Arena: game dev11181003MiniMax M2
Design Arena: data viz1140990MiniMax M2
Design Arena: 3D1098854MiniMax M2
Design Arena: all code categories1135976MiniMax M2
Design Arena: SVG1100Not measuredOnly 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 index710
General benchmarks for MiniMax M2 and o4 Mini
BenchmarkMiniMax M2o4 MiniLeader
SAGE (Vals AI)Not measured41.1%Only o4 Mini measured
MedScribe (Vals AI)Not measured69.1%Only o4 Mini measured
IFBench72.3%68.7%MiniMax M2
Long context reasoning (AA-LCR)64.3%61.0%MiniMax M2
DTBenchNot measured77.6%Only o4 Mini measured
LMCANot measured26.5%Only o4 Mini measured
Fiction.LiveBenchNot measured77.8%Only o4 Mini measured
Creative writing (Lech Mazur)Not measured75.0%Only o4 Mini measured
LMArena Text13401353o4 Mini
LMArena Text: instruction following13291320MiniMax M2
LMArena Text: creative writing12861294o4 Mini
LMArena VisionNot measured1194Only o4 Mini measured
LMArena Text: English13641367o4 Mini
LMArena Text: non-English13131337o4 Mini
LMArena Text: Chinese13661354MiniMax M2
LMArena Text: German13571336MiniMax M2
LMArena Text: JapaneseNot measured1308Only o4 Mini measured
LMArena Text: KoreanNot measured1312Only o4 Mini measured
LMArena Text: French13361364o4 Mini
LMArena Text: Spanish13261346o4 Mini
LMArena Text: Russian13301334o4 Mini
LMArena Text: Polish13121358o4 Mini
LMArena Text: multi-turn13611350MiniMax M2
LMArena Text: longer queries13311315MiniMax M2
LMArena Text: writing and language12951316o4 Mini
LMArena Text: entertainment and media12981308o4 Mini
LMArena Vision: EnglishNot measured1200Only o4 Mini measured
LMArena Vision: ChineseNot measured1218Only o4 Mini measured
LMArena Vision: reading textNot measured1197Only o4 Mini measured
LMArena Vision: humorNot measured1199Only o4 Mini measured
LMArena Vision: captioningNot measured1204Only o4 Mini measured
LMArena Vision: recognizing thingsNot measured1218Only o4 Mini measured
LMArena Vision: creative writingNot measured1166Only o4 Mini measured
Neither model has a result on the other 13 boards here
Image generationNot comparablePublic boards, shown as published, kept out of the index0 boards, none shared
Image generation benchmarks for MiniMax M2 and o4 Mini
BenchmarkMiniMax M2o4 MiniLeader
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

MiniMax M2$0.0008Fits in one request
o4 Mini$0.0033Fits in one request

MiniMax M2 costs less

Repository review

50K input + 3K output tokens

MiniMax M2$0.016Fits in one request
o4 Mini$0.068Fits in one request

MiniMax M2 costs less

Agent loop

200K input + 10K output tokens

MiniMax M2$0.061Exceeds the context window
o4 Mini$0.264Exceeds the context window

MiniMax M2 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 MiniMax M2 and o4 Mini
SpecificationMiniMax M2OpenAI o4 Mini
MakerMiniMaxOpenAI
WeightsOpen weightsNo public weights listed
ReleasedOctober 23, 2025April 16, 2025
Context window205K200K
Input $/Mtok$0.255$1.10
Output $/Mtok$1.02$4.40
Coding indexNot benchmarkedNot benchmarked
Independent measurements behind it10
Cost per solved task$0.702Not computable
SourceOpenRouter listingOpenRouter listing

Questions

Is MiniMax M2 better than o4 Mini for coding?

Neither model has a coding score yet, so the two cannot be ranked on coding. Pick MiniMax M2 for output tokens 4.3x cheaper ($1.02 vs $4.40 per million) and a larger context window (205K against 200K tokens).

Which is cheaper, MiniMax M2 or o4 Mini?

MiniMax M2 costs $0.255 per million input tokens and $1.02 per million output tokens; o4 Mini costs $1.10 and $4.40. Cost per solved task is known for MiniMax M2 only.

Which has the bigger context window, MiniMax M2 or o4 Mini?

MiniMax M2, with 205K tokens against 200K.

How many benchmarks is the MiniMax M2 vs o4 Mini comparison based on?

45 benchmarks have a result for both models as of October 21, 2026. MiniMax M2's coding index rests on 1 independent benchmark and o4 Mini's on 0. Where only one model has a result, the page says so instead of naming a winner.

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