Pick DeepSeek V4-Flash for exceptional value — artificial analysis intelligence index 52 at just $0.14/$0.28 per million tokens or mit-licensed open weights — free to self-host or run via a western host. Pick Hunyuan Hy4 Preview for gpqa diamond (92.3) or terminal-bench (85.4). On a tight budget at scale, DeepSeek V4-Flash is the value pick.
DeepSeek V4-Flash (DeepSeek) and Hunyuan Hy4 Preview (Tencent) are two of the models people most often weigh against each other in 2026. DeepSeek V4-Flash is deepSeek's MIT-licensed open-weight model — arguably the best value-per-intelligence available, scoring 52 on the independent AA Index at just $0.14/$0.28 per million tokens. Hunyuan Hy4 Preview is tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline. Their biggest split is price, and the breakdown below shows exactly how that plays out for your workload.
Key differences
Price: DeepSeek V4-Flash is about 3.8× cheaper on input ($0.22/$0.66 per 1M tokens vs $0.834/$2.501 per 1M tokens) — meaningful once you are processing millions of tokens a month.
Context window: both advertise 1M (~1,500 pages). Tie on paper — test on your own long inputs, since usable recall varies by model.
Recency: Hunyuan Hy4 Preview is the newer model by about 28 days (released August 28, 2026), usually meaning fresher training data and capabilities.
Specifications
Spec
DeepSeek V4-Flash
Hunyuan Hy4 Preview
Provider
DeepSeek (China)
Tencent (China)
Released
July 31, 2026
August 28, 2026
Context window
1M (~1,500 pages)
1M+ tokens (~1,500 pages)
Price (in/out)
$0.22/$0.66 per 1M tokens
$0.834/$2.501 per 1M tokens
Open weight?
Yes — self-hostable
Yes — self-hostable
Modalities
text, code
text
SWE-Bench Verified
Not published
Not published
MRCR v2 @ 1M
Not published
Not published
Who wins what
Exceptional value — Artificial Analysis Intelligence Index 52 at just $0.14/$0.28 per million tokens: DeepSeek V4-Flash — At $0.22/$0.66 per 1M tokens it undercuts Hunyuan Hy4 Preview ($0.834/$2.501 per 1M tokens), and that gap compounds at volume.
MIT-licensed open weights — free to self-host or run via a Western host: DeepSeek V4-Flash — DeepSeek's MIT-licensed open-weight model — arguably the best value-per-intelligence available, scoring 52 on the independent AA Index at just $0.14/$0.28 per million tokens — and it runs cheaper at $0.22/$0.66 per 1M tokens.
1M-token context window: DeepSeek V4-Flash — DeepSeek V4-Flash lists 1M-token context window among its strengths; Hunyuan Hy4 Preview does not.
GPQA Diamond (92.3): Hunyuan Hy4 Preview — Tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline — and it is the newer of the two.
Terminal-Bench (85.4): Hunyuan Hy4 Preview — DeepSeek V4-Flash is comparatively weak here — coding/agentic figures like Terminal-Bench 82.7 are DeepSeek's own, not independently reproduced
SWE-bench Multilingual (82.9): Hunyuan Hy4 Preview — Hunyuan Hy4 Preview lists sWE-bench Multilingual (82.9) among its strengths; DeepSeek V4-Flash does not.
Lowest cost at scale: DeepSeek V4-Flash — At $0.22/$0.66 per 1M tokens, it is the cheaper of the two — the gap dominates the bill on high-volume workloads.
Which should you pick?
A cost-sensitive startup shipping high volume: DeepSeek V4-Flash — At $0.22/$0.66 per 1M tokens it undercuts Hunyuan Hy4 Preview, and on millions of tokens that margin decides the monthly bill.
Anyone whose priority is exceptional value — artificial analysis intelligence index 52 at just $0.14/$0.28 per million tokens: DeepSeek V4-Flash — It is specifically built for that.
Anyone whose priority is gpqa diamond (92.3): Hunyuan Hy4 Preview — That is its strongest area.
DeepSeek V4-Flash: where it fits
DeepSeek's MIT-licensed open-weight model — arguably the best value-per-intelligence available, scoring 52 on the independent AA Index at just $0.14/$0.28 per million tokens. Released July 31, 2026 by DeepSeek, it is built for exceptional value — Artificial Analysis Intelligence Index 52 at just $0.14/$0.28 per million tokens, mIT-licensed open weights — free to self-host or run via a Western host, 1M-token context window, and strong coding and agentic performance for the price (DeepSeek reports 82.7 on Terminal-Bench 2.1).
Its trade-offs are real: coding/agentic figures like Terminal-Bench 82.7 are DeepSeek's own, not independently reproduced, text and code focused — not a full multimodal model, deepSeek's own hosted API stores data in China; self-host or use a Western host for privacy, and below the top frontier models on overall intelligence. At $0.22 in / $0.66 out per million tokens, it sits in the budget price band.
Hunyuan Hy4 Preview: where it fits
Tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline. Released August 28, 2026 by Tencent, it is built for gPQA Diamond (92.3), terminal-Bench (85.4), sWE-bench Multilingual (82.9), and large jump in long-horizon coding vs prior Hunyuan model (DeepSWE 28.0 to 64.3).
Its trade-offs: text-only, no native vision support, labeled a 'preview', not yet Tencent's finalized GA flagship, and sWE-Marathon score still low in absolute terms (31.9) despite a large relative jump. At $0.834 in / $2.501 out per million tokens, it sits in the budget price band.
The bottom line for this matchup
DeepSeek V4-Flash and Hunyuan Hy4 Preview overlap enough that the right pick depends on your specific job. DeepSeek V4-Flash costs less per token; and each leads in its own area — DeepSeek V4-Flash for exceptional value — artificial analysis intelligence index 52 at just $0.14/$0.28 per million tokens, Hunyuan Hy4 Preview for gpqa diamond (92.3). Rather than crowning one, run the same hard task through both once and let the results decide.
Frequently asked questions
Is DeepSeek V4-Flash or Hunyuan Hy4 Preview better for coding?
Public SWE-Bench figures are not available for either model, so the honest test is your own repository — run an identical real bug through both. By design, DeepSeek V4-Flash leans toward exceptional value — artificial analysis intelligence index 52 at just $0.14/$0.28 per million tokens while Hunyuan Hy4 Preview leans toward gpqa diamond (92.3), and that positioning usually predicts which feels better on your codebase.
Which is cheaper, DeepSeek V4-Flash or Hunyuan Hy4 Preview?
DeepSeek V4-Flash is cheaper — $0.22/$0.66 per 1M tokens vs $0.834/$2.501 per 1M tokens, roughly 3.8× apart on input.
Which has the bigger context window?
Both advertise 1M (~1,500 pages). Remember advertised ≠ usable: recall typically degrades before the ceiling.
Can I use both DeepSeek V4-Flash and Hunyuan Hy4 Preview together?
Yes — a multi-model platform like LumiChats gives you DeepSeek V4-Flash, Hunyuan Hy4 Preview and 40+ others under one ₹69/day pass (about $1/day), so you can draft with one and cross-check with the other instead of buying two subscriptions.
Which is newer, DeepSeek V4-Flash or Hunyuan Hy4 Preview?
Hunyuan Hy4 Preview — released August 28, 2026, about 28 days after DeepSeek V4-Flash.
DeepSeek V4-Flash vs Hunyuan Hy4 Preview
DeepSeek · China | Tencent · China · Updated June 2026
Quick verdict
Pick DeepSeek V4-Flash for exceptional value — artificial analysis intelligence index 52 at just $0.14/$0.28 per million tokens or mit-licensed open weights — free to self-host or run via a western host. Pick Hunyuan Hy4 Preview for gpqa diamond (92.3) or terminal-bench (85.4). On a tight budget at scale, DeepSeek V4-Flash is the value pick.
DeepSeek V4-Flash (DeepSeek) and Hunyuan Hy4 Preview (Tencent) are two of the models people most often weigh against each other in 2026. DeepSeek V4-Flash is deepSeek's MIT-licensed open-weight model — arguably the best value-per-intelligence available, scoring 52 on the independent AA Index at just $0.14/$0.28 per million tokens. Hunyuan Hy4 Preview is tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline. Their biggest split is price, and the breakdown below shows exactly how that plays out for your workload.
Key differences at a glance
▸Price: DeepSeek V4-Flash is about 3.8× cheaper on input ($0.22/$0.66 per 1M tokens vs $0.834/$2.501 per 1M tokens) — meaningful once you are processing millions of tokens a month.
▸Context window: both advertise 1M (~1,500 pages). Tie on paper — test on your own long inputs, since usable recall varies by model.
▸Recency: Hunyuan Hy4 Preview is the newer model by about 28 days (released August 28, 2026), usually meaning fresher training data and capabilities.
Side-by-side specs
Spec
DeepSeek V4-Flash
Hunyuan Hy4 Preview
Provider
DeepSeek (China)
Tencent (China)
Released
July 31, 2026
August 28, 2026
Context window
1M (~1,500 pages)
1M+ tokens (~1,500 pages)
Price (in/out)
$0.22/$0.66 per 1M tokens
$0.834/$2.501 per 1M tokens
Open weight?
Yes — self-hostable
Yes — self-hostable
Modalities
text, code
text
SWE-Bench Verified
Not published
Not published
MRCR v2 @ 1M
Not published
Not published
Who wins what
Exceptional value — Artificial Analysis Intelligence Index 52 at just $0.14/$0.28 per million tokens
DeepSeek V4-Flash
At $0.22/$0.66 per 1M tokens it undercuts Hunyuan Hy4 Preview ($0.834/$2.501 per 1M tokens), and that gap compounds at volume.
MIT-licensed open weights — free to self-host or run via a Western host
DeepSeek V4-Flash
DeepSeek's MIT-licensed open-weight model — arguably the best value-per-intelligence available, scoring 52 on the independent AA Index at just $0.14/$0.28 per million tokens — and it runs cheaper at $0.22/$0.66 per 1M tokens.
1M-token context window
DeepSeek V4-Flash
DeepSeek V4-Flash lists 1M-token context window among its strengths; Hunyuan Hy4 Preview does not.
GPQA Diamond (92.3)
Hunyuan Hy4 Preview
Tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline — and it is the newer of the two.
Terminal-Bench (85.4)
Hunyuan Hy4 Preview
DeepSeek V4-Flash is comparatively weak here — coding/agentic figures like Terminal-Bench 82.7 are DeepSeek's own, not independently reproduced
SWE-bench Multilingual (82.9)
Hunyuan Hy4 Preview
Hunyuan Hy4 Preview lists sWE-bench Multilingual (82.9) among its strengths; DeepSeek V4-Flash does not.
Lowest cost at scale
DeepSeek V4-Flash
At $0.22/$0.66 per 1M tokens, it is the cheaper of the two — the gap dominates the bill on high-volume workloads.
Which should you pick?
A cost-sensitive startup shipping high volume
→ DeepSeek V4-Flash
At $0.22/$0.66 per 1M tokens it undercuts Hunyuan Hy4 Preview, and on millions of tokens that margin decides the monthly bill.
Anyone whose priority is exceptional value — artificial analysis intelligence index 52 at just $0.14/$0.28 per million tokens
→ DeepSeek V4-Flash
It is specifically built for that.
Anyone whose priority is gpqa diamond (92.3)
→ Hunyuan Hy4 Preview
That is its strongest area.
DeepSeek V4-Flash: where it fits
DeepSeek's MIT-licensed open-weight model — arguably the best value-per-intelligence available, scoring 52 on the independent AA Index at just $0.14/$0.28 per million tokens. Released July 31, 2026 by DeepSeek, it is built for exceptional value — Artificial Analysis Intelligence Index 52 at just $0.14/$0.28 per million tokens, mIT-licensed open weights — free to self-host or run via a Western host, 1M-token context window, and strong coding and agentic performance for the price (DeepSeek reports 82.7 on Terminal-Bench 2.1).
Its trade-offs are real: coding/agentic figures like Terminal-Bench 82.7 are DeepSeek's own, not independently reproduced, text and code focused — not a full multimodal model, deepSeek's own hosted API stores data in China; self-host or use a Western host for privacy, and below the top frontier models on overall intelligence. At $0.22 in / $0.66 out per million tokens, it sits in the budget price band.
Hunyuan Hy4 Preview: where it fits
Tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline. Released August 28, 2026 by Tencent, it is built for gPQA Diamond (92.3), terminal-Bench (85.4), sWE-bench Multilingual (82.9), and large jump in long-horizon coding vs prior Hunyuan model (DeepSWE 28.0 to 64.3).
Its trade-offs: text-only, no native vision support, labeled a 'preview', not yet Tencent's finalized GA flagship, and sWE-Marathon score still low in absolute terms (31.9) despite a large relative jump. At $0.834 in / $2.501 out per million tokens, it sits in the budget price band.
The bottom line for this matchup
DeepSeek V4-Flash and Hunyuan Hy4 Preview overlap enough that the right pick depends on your specific job. DeepSeek V4-Flash costs less per token; and each leads in its own area — DeepSeek V4-Flash for exceptional value — artificial analysis intelligence index 52 at just $0.14/$0.28 per million tokens, Hunyuan Hy4 Preview for gpqa diamond (92.3). Rather than crowning one, run the same hard task through both once and let the results decide.
Want both DeepSeek V4-Flash and Hunyuan Hy4 Preview without two subscriptions? LumiChats gives you these plus 40+ models under one ₹69/day pass (about $1/day) — draft with one, cross-check with the other.
Is DeepSeek V4-Flash or Hunyuan Hy4 Preview better for coding?
Public SWE-Bench figures are not available for either model, so the honest test is your own repository — run an identical real bug through both. By design, DeepSeek V4-Flash leans toward exceptional value — artificial analysis intelligence index 52 at just $0.14/$0.28 per million tokens while Hunyuan Hy4 Preview leans toward gpqa diamond (92.3), and that positioning usually predicts which feels better on your codebase.
Which is cheaper, DeepSeek V4-Flash or Hunyuan Hy4 Preview?
DeepSeek V4-Flash is cheaper — $0.22/$0.66 per 1M tokens vs $0.834/$2.501 per 1M tokens, roughly 3.8× apart on input.
Which has the bigger context window?
Both advertise 1M (~1,500 pages). Remember advertised ≠ usable: recall typically degrades before the ceiling.
Can I use both DeepSeek V4-Flash and Hunyuan Hy4 Preview together?
Yes — a multi-model platform like LumiChats gives you DeepSeek V4-Flash, Hunyuan Hy4 Preview and 40+ others under one ₹69/day pass (about $1/day), so you can draft with one and cross-check with the other instead of buying two subscriptions.
Which is newer, DeepSeek V4-Flash or Hunyuan Hy4 Preview?
Hunyuan Hy4 Preview — released August 28, 2026, about 28 days after DeepSeek V4-Flash.
Specifications and benchmarks reflect publicly reported figures as of June 2026 and may change as providers release updates. Always verify on your own workload.