MiniMax: Models Intelligence, Performance & Price

MiniMax
MiniMax

Analysis of MiniMax's models across key metrics including quality, price, output speed, latency, context window & more. This analysis is intended to support you in choosing the best model provided by MiniMax for your use-case.

Most Intelligent

Updated
#1
MiniMax-M3
MiniMax-M3
44
#2
MiniMax-M2.7
MiniMax-M2.7
38
#3
MiniMax-M2.5
MiniMax-M2.5
34
#4
MiniMax-M2.1
MiniMax-M2.1
31
#5
MiniMax-M2
MiniMax-M2
28

Intelligence index

Total 5 models

Fastest

#1
MiniMax-M2.5
MiniMax-M2.5
91 t/s
#2
MiniMax-M2
MiniMax-M2
87 t/s
#3
MiniMax-M3
MiniMax-M3
85 t/s
#4
MiniMax-M2.1
MiniMax-M2.1
83 t/s
#5
MiniMax-M2.7
MiniMax-M2.7
61 t/s

Output speed

Total 5 models

Lowest Price

#1
MiniMax-M2.5
MiniMax-M2.5
$0.20
#2
MiniMax-M3
MiniMax-M3
$0.22
#3
MiniMax-M2.7
MiniMax-M2.7
$0.22
#4
MiniMax-M2.1
MiniMax-M2.1
$0.39
#5
MiniMax-M2
MiniMax-M2
$0.39

Blended price (per 1M tokens)

Total 5 models

Indicates a reasoning model

MiniMax offers 5 models, each with different intelligence, performance, and pricing characteristics. Below is a comparison of the key metrics across models.

  • For intelligence, the top models on MiniMax are MiniMax-M3 (44), MiniMax-M2.7 (38), MiniMax-M2.5 (34).
  • For output speed, the fastest models are MiniMax-M2.5 (91 t/s), MiniMax-M2 (87 t/s), MiniMax-M3 (85 t/s).
  • For latency, MiniMax-M2 (1.66s), MiniMax-M2.1 (1.71s), MiniMax-M2.7 (1.79s) offer the lowest time to first token.
  • For pricing, MiniMax-M2.5 ($0.20), MiniMax-M3 ($0.22), MiniMax-M2.7 ($0.22) offer the lowest blended prices per 1M tokens.
  • For context window size, MiniMax-M3 (512k), MiniMax-M2.7 (205k), MiniMax-M2.5 (205k) support the largest context windows on MiniMax.
  • MiniMax-M2.5 offers both the fastest output and best pricing, making it attractive for throughput-sensitive and cost-conscious applications. MiniMax-M3 leads in intelligence for tasks that require the highest quality.

Highlights

Updated

Intelligence

Artificial Analysis Intelligence Index · Higher is better

Speed

Output tokens per second · Higher is better

Price

USD per 1M tokens (blended) · Lower is better

Intelligence Evaluations

Artificial Analysis Intelligence Index

Artificial Analysis Intelligence Index v4.1 incorporates 9 evaluations: GDPval-AA v2, 𝜏³-Banking, Terminal-Bench v2.1, SciCode, Humanity's Last Exam, GPQA Diamond, CritPt, AA-Omniscience, AA-LCR
Estimate (independent evaluation forthcoming)
Reasoning models are indicated by a lightbulb icon

Artificial Analysis Intelligence Index v4.1 includes: GDPval-AA v2, 𝜏³-Banking, Terminal-Bench v2.1, SciCode, Humanity's Last Exam, GPQA Diamond, CritPt, AA-Omniscience, AA-LCR. See Intelligence Index methodology for further details, including a breakdown of each evaluation and how we run them.

Intelligence Evaluations

Intelligence evaluations measured independently by Artificial Analysis · Higher is better
GDPval-AA v2

Agentic real-world work tasks, (Elo-500)/2000

𝜏³-Banking

Agentic tool use

Terminal-Bench v2.1

Agentic coding & terminal use

SciCode

Coding

Humanity's Last Exam

Reasoning & knowledge

GPQA Diamond

Scientific reasoning

CritPt

Physics reasoning

AA-Omniscience Accuracy

Knowledge

AA-Omniscience Non-Hallucination Rate

1 - hallucination rate

AA-LCR

Long context reasoning

AA-BriefcaseNew

Agentic knowledge work, Elo

AutomationBench-AANew

Agentic SaaS workflows

Harvey LAB-AANew

Legal agentic work, task all-pass rate

EnterpriseOps-Gym-AANew

Agentic business operations

IFBench

Instruction following

APEX-Agents-AA

Long-horizon agentic tasks

ITBench-AA

Kubernetes incident root-cause analysis

MMMU-Pro

Visual reasoning

Reasoning models are indicated by a lightbulb icon.

While model intelligence generally translates across use cases, specific evaluations may be more relevant for certain use cases.

Artificial Analysis Intelligence Index v4.1 includes: GDPval-AA v2, 𝜏³-Banking, Terminal-Bench v2.1, SciCode, Humanity's Last Exam, GPQA Diamond, CritPt, AA-Omniscience, AA-LCR. See Intelligence Index methodology for further details, including a breakdown of each evaluation and how we run them.

Intelligence vs. Price

Blended at 7:2:1 (cache-input-output) · USD per 1M tokens (blended)
Most attractive quadrant
Reasoning models are indicated by a lightbulb icon.

While higher intelligence models are typically more expensive, they do not all follow the same price-quality curve.

Artificial Analysis Intelligence Index v4.1 includes: GDPval-AA v2, 𝜏³-Banking, Terminal-Bench v2.1, SciCode, Humanity's Last Exam, GPQA Diamond, CritPt, AA-Omniscience, AA-LCR. See Intelligence Index methodology for further details, including a breakdown of each evaluation and how we run them.

Price per token, shown in USD per million tokens. Price is a blend of cache hit, input, and output token prices using the selected ratio (default 7:2:1 cache-input-output).

The blended cache price shown here uses cache hit price only. Other caching costs differ by provider:

  • Anthropic: charges a separate cache write fee, with different rates for 5-minute and 1-hour TTLs (1-hour TTL is more expensive).
  • Google (Vertex/Gemini): charges a per-hour cache storage fee in addition to cache hit pricing. Some providers also use tiered pricing for prompts above 200K tokens.
  • OpenAI, DeepSeek, others: typically charge only cache hit pricing with no write or storage fee.

See Prompt Caching for the full breakdown.

Figures represent performance of the model's first-party API (e.g. OpenAI for o1) or the median across providers where a first-party API is not available (e.g. Meta's Llama models).

Context Window

Context Window

Context window: tokens limit · Higher is better
Reasoning models are indicated by a lightbulb icon

Larger context windows are relevant to RAG (Retrieval Augmented Generation) LLM workflows which typically involve reasoning and information retrieval of large amounts of data.

Maximum number of combined input & output tokens. Output tokens commonly have a significantly lower limit (varied by model).

Pricing

Intelligence vs. Price

Blended at 7:2:1 (cache-input-output) · USD per 1M tokens (blended)
Most attractive quadrant
Reasoning models are indicated by a lightbulb icon.

While higher intelligence models are typically more expensive, they do not all follow the same price-quality curve.

Artificial Analysis Intelligence Index v4.1 includes: GDPval-AA v2, 𝜏³-Banking, Terminal-Bench v2.1, SciCode, Humanity's Last Exam, GPQA Diamond, CritPt, AA-Omniscience, AA-LCR. See Intelligence Index methodology for further details, including a breakdown of each evaluation and how we run them.

Price per token, shown in USD per million tokens. Price is a blend of cache hit, input, and output token prices using the selected ratio (default 7:2:1 cache-input-output).

The blended cache price shown here uses cache hit price only. Other caching costs differ by provider:

  • Anthropic: charges a separate cache write fee, with different rates for 5-minute and 1-hour TTLs (1-hour TTL is more expensive).
  • Google (Vertex/Gemini): charges a per-hour cache storage fee in addition to cache hit pricing. Some providers also use tiered pricing for prompts above 200K tokens.
  • OpenAI, DeepSeek, others: typically charge only cache hit pricing with no write or storage fee.

See Prompt Caching for the full breakdown.

Figures represent performance of the model's first-party API (e.g. OpenAI for o1) or the median across providers where a first-party API is not available (e.g. Meta's Llama models).

Performance Summary

Output Speed vs. Price

Output speed: output tokens per second · USD per 1M tokens (blended)
Most attractive quadrant
Reasoning models are indicated by a lightbulb icon.

Tokens per second received while the model is generating tokens (ie. after first chunk has been received from the API for models which support streaming).

Price per token, shown in USD per million tokens. Price is a blend of cache hit, input, and output token prices using the selected ratio (default 7:2:1 cache-input-output).

Speed

Measured by Output Speed (tokens per second)

Output Speed

Output tokens per second · Higher is better
Reasoning models are indicated by a lightbulb icon

Tokens per second received while the model is generating tokens (ie. after first chunk has been received from the API for models which support streaming).

Figures represent performance of the model's first-party API (e.g. OpenAI for o1) or the median across providers where a first-party API is not available (e.g. Meta's Llama models).

Latency

Measured by Time (seconds) to First Token

Latency: Time To First Answer Token

Seconds to first answer token received · Accounts for reasoning model 'thinking' time
Reasoning models are indicated by a lightbulb icon

Time to first answer token received, in seconds, after API request sent. For reasoning models, this includes the 'thinking' time of the model before providing an answer. For models which do not support streaming, this represents time to receive the completion.

End-to-End Response Time

Seconds to output 500 tokens, calculated based on time to first token, 'thinking' time for reasoning models, and output speed

End-to-End Response Time vs. Price

End-to-end response time: end-to-end seconds to output 500 tokens · USD per 1M tokens (blended)
Most attractive quadrant
Reasoning models are indicated by a lightbulb icon.

Price per token, shown in USD per million tokens. Price is a blend of cache hit, input, and output token prices using the selected ratio (default 7:2:1 cache-input-output).

Seconds to receive a 500 token response. Key components:

  • Input time: Time to receive the first response token
  • Thinking time (only for reasoning models): Time reasoning models spend outputting tokens to reason prior to providing an answer. Amount of tokens based on the average reasoning tokens across a diverse set of 60 prompts (methodology details).
  • Answer time: Time to generate 500 output tokens, based on output speed

Figures represent median (P50) measurement over the past 72 hours to reflect sustained changes in performance.

Further Analysis
MiniMax logo
MiniMax-M3
512k
Open
44
$0.22
85
1.90
31.35
23.56
Model
Provider
MiniMax logo
MiniMax-M2.7
205k
Open
38
$0.22
61
1.79
50.20
40.23
Model
Provider
MiniMax logo
MiniMax-M2.5
205k
Open
34*
$0.20
91
1.81
29.18
21.89
Model
Provider
MiniMax logo
MiniMax-M2.1
205k
Open
31*
$0.39
83
1.71
32.00
24.23
Model
Provider
MiniMax logo
MiniMax-M2
205k
Open
28*
$0.39
87
1.66
30.26
22.88
Model
Provider

Key definitions

Maximum number of combined input & output tokens. Output tokens commonly have a significantly lower limit (varied by model).

Tokens per second received while the model is generating tokens (ie. after first chunk has been received from the API for models which support streaming).

Time to first token received, in seconds, after API request sent. For reasoning models which share reasoning tokens, this will be the first reasoning token. For models which do not support streaming, this represents time to receive the completion.

Price per token, shown in USD per million tokens. Price is a blend of cache hit, input, and output token prices using the selected ratio (default 7:2:1 cache-input-output).

Price per token generated by the model (received from the API), represented as USD per million Tokens.

Price per token included in the request/message sent to the API, represented as USD per million Tokens.

Metrics are 'live' and are based on the past 72 hours of measurements, measurements are taken 8 times a day for single requests and 2 times per day for parallel requests.

Frequently Asked Questions

Common questions about MiniMax

MiniMax offers 5 models that we track: MiniMax-M3, MiniMax-M2.7, MiniMax-M2.5, MiniMax-M2.1, and MiniMax-M2.

The most intelligent model available on MiniMax is MiniMax-M3 with an Intelligence Index score of 44.

The fastest model on MiniMax by output speed is MiniMax-M2.5 at 91.4 tokens per second.

The model with the lowest time to first token on MiniMax is MiniMax-M2 at 1.66s. Lower latency means faster initial response time.

The most affordable model on MiniMax by blended price is MiniMax-M2.5 at $0.20 per 1M tokens (7:2:1 cache hit/input/output ratio).

Prices on MiniMax vary up to 2x across models, from $0.20 per 1M tokens for MiniMax-M2.5 to $0.39 per 1M tokens for MiniMax-M2.

Yes, MiniMax offers an OpenAI-compatible API, making it easy to switch from OpenAI or use existing OpenAI SDK integrations.

Yes, all 5 models on MiniMax support JSON mode for structured output.

Yes, all 5 models on MiniMax support function calling (tool use).

Yes, MiniMax offers 5 reasoning models: MiniMax-M3, MiniMax-M2.7, MiniMax-M2.5, MiniMax-M2.1, and MiniMax-M2. Reasoning models use extended thinking to work through complex problems before providing an answer.

Yes, all 5 models on MiniMax are open weight models.

Yes, provider performance can vary over time due to infrastructure changes, load balancing, and updates. We continuously benchmark all providers and display historical performance trends in the "Over Time" charts.

When choosing a model on MiniMax, consider: intelligence (for quality-sensitive tasks), output speed (for throughput-intensive tasks), latency (for interactive applications requiring quick first responses), pricing (for cost-sensitive workloads), and features like context window size, JSON mode, or function calling support.