MiniMax M1 vs Mercury 2
API pricing, benchmark indices and specs — updated 19 October 2026.
minimax · A · API-only
Input / 1M
$0.55
Output / 1M
$2.20
AA index
11.7
proprietary · 1M context
inception · B · API-only
Input / 1M
$0.25
Output / 1M
$0.75
AA index
10.8
proprietary · 128K context
Specification comparison
Differences are highlighted; identical values are muted.
| Specification | MiniMax M1 | Mercury 2 |
|---|---|---|
| Deployment | API-only (closed weights) | API-only (closed weights) |
| Parameters | n/a — API-only | n/a — API-only |
| Architecture | n/a — API-only | n/a — API-only |
| Context length | 1,000,000 | 128,000 |
| Licence | Proprietary | Proprietary |
| Commercial use | Per API terms | Per API terms |
| Languages | n/a — API-only | n/a — API-only |
| Downloads 30d | n/a — API-only | n/a — API-only |
| Downloads all time | n/a — API-only | n/a — API-only |
| Quantizations on the Hub | n/a — API-only | n/a — API-only |
| Gated | n/a — API-only | n/a — API-only |
| First seen on the Hub | n/a — API-only | n/a — API-only |
| API input price / 1M tokens | $0.55 | $0.25 |
| API output price / 1M tokens | $2.20 | $0.75 |
| Est. cost per 1M input + 1M output tokens | $2.75 | $1.00 |
| Cached input / 1M tokens | — | $0.025 |
| AA Intelligence Index | 11.7 | 10.8 |
| AA Coding Index | — | 31.1 |
| AA Agentic Index | — | 1.6 |
| Max output tokens | 40,000 | 50,000 |
| API providers | 2 | 1 |
| Tool calling | Yes | Yes |
| Reasoning mode | Yes | Yes |
API cost
Estimated cost of 1M input + 1M output tokens via OpenRouter
MiniMax M1
$2.75
Mercury 2
$1.00
Mercury 2 is 2.8× cheaper at list price.