DeepSeek V4 vs Hunyuan Hy4
DeepSeek · China | Tencent · China · Updated June 2026
Quick verdict
Pick DeepSeek V4 for near-frontier coding at ~1/12 the cost or open mit-licensed weights you can self-host. Pick Hunyuan Hy4 for first hunyuan model with vision and computer use, adding image input to the text-only hy4 preview or tencent-reported gains over the preview of 19.1% on gamedev and 9.8% on gamelogic. Choose DeepSeek V4 if you need self-hosting or data privacy; Hunyuan Hy4 if you want a managed API.
DeepSeek V4 (DeepSeek) and Hunyuan Hy4 (Tencent) are two of the models people most often weigh against each other in 2026. DeepSeek V4 is china's open-weight price earthquake — near-frontier capability at roughly a twelfth of GPT-5.5's cost. Hunyuan Hy4 is tencent's November 4, 2026 full Hy4 release - a 1M-context model that adds vision and computer use at about $0.90/$2.70, with weights promised but not yet public. They diverge most on price, context window and open vs. closed weights — each quantified below from the models' real specs.
Key differences at a glance
- ▸Price: DeepSeek V4 is about 1.4× cheaper on input ($0.66/$1.98 per 1M tokens vs $0.9/$2.7 per 1M tokens) — modest, but it adds up at steady volume.
- ▸Context window: 1M vs 1M tokens — within a few percent of each other, so treat this as a tie and test on your own long inputs, since usable recall varies by model.
- ▸Recency: Hunyuan Hy4 is the newer model by about 6 months (released November 4, 2026), usually meaning fresher training data and capabilities.
Side-by-side specs
| Spec | DeepSeek V4 | Hunyuan Hy4 |
|---|---|---|
| Provider | DeepSeek (China) | Tencent (China) |
| Released | April 24, 2026 | November 4, 2026 |
| Context window | 1M (~1,500 pages) | 1M tokens (~1,573 pages) |
| Price (in/out) | $0.66/$1.98 per 1M tokens | $0.9/$2.7 per 1M tokens |
| Open weight? | Yes — self-hostable | No — API only |
| Modalities | text, code | text, image, code |
| SWE-Bench Verified | 80.6% | Not published |
| MRCR v2 @ 1M | Not published | Not published |
Who wins what
Near-frontier coding at ~1/12 the cost
DeepSeek V4
At $0.66/$1.98 per 1M tokens it undercuts Hunyuan Hy4 ($0.9/$2.7 per 1M tokens), and that gap compounds at volume.
Open MIT-licensed weights you can self-host
DeepSeek V4
Open weights make this possible at all — Hunyuan Hy4 is API-only, so it cannot leave the vendor's servers.
No long-context surcharge
DeepSeek V4
China's open-weight price earthquake — near-frontier capability at roughly a twelfth of GPT-5.5's cost — and it runs cheaper at $0.66/$1.98 per 1M tokens.
First Hunyuan model with vision and computer use, adding image input to the text-only Hy4 Preview
Hunyuan Hy4
Tencent's November 4, 2026 full Hy4 release - a 1M-context model that adds vision and computer use at about $0.90/$2.70, with weights promised but not yet public — and it is the newer of the two.
Tencent-reported gains over the preview of 19.1% on GameDev and 9.8% on GameLogic
Hunyuan Hy4
Hunyuan Hy4 lists tencent-reported gains over the preview of 19.1% on GameDev and 9.8% on GameLogic among its strengths; DeepSeek V4 does not.
Tencent-reported financial evaluation of 3.04, ahead of DeepSeek V4.1 Flash 1017 at 2.97
Hunyuan Hy4
DeepSeek V4 is comparatively weak here — this generic 'V4' entry mirrors DeepSeek V4-Pro's specs - see DeepSeek V4-Pro and DeepSeek V4-Flash for DeepSeek's actual named product tiers
Lowest cost at scale
DeepSeek V4
At $0.66/$1.98 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
At $0.66/$1.98 per 1M tokens it undercuts Hunyuan Hy4, and on millions of tokens that margin decides the monthly bill.
Someone analysing very long documents or codebases
→ Hunyuan Hy4
Larger 1M tokens window fits more in one prompt.
A team with data-privacy or self-hosting needs
→ DeepSeek V4
Open weights let you run it on your own hardware; Hunyuan Hy4 is API-only.
Anyone whose priority is near-frontier coding at ~1/12 the cost
→ DeepSeek V4
It is specifically built for that.
Anyone whose priority is first hunyuan model with vision and computer use, adding image input to the text-only hy4 preview
→ Hunyuan Hy4
That is its strongest area.
DeepSeek V4: where it fits
China's open-weight price earthquake — near-frontier capability at roughly a twelfth of GPT-5.5's cost. Released April 24, 2026 by DeepSeek, it is built for near-frontier coding at ~1/12 the cost, open MIT-licensed weights you can self-host, no long-context surcharge, and highest LiveCodeBench result.
Its trade-offs are real: this generic 'V4' entry mirrors DeepSeek V4-Pro's specs - see DeepSeek V4-Pro and DeepSeek V4-Flash for DeepSeek's actual named product tiers, trails the very best on hardest agentic coding, and text/code focused, less multimodal. At $0.66 in / $1.98 out per million tokens, it sits in the budget price band.
Hunyuan Hy4: where it fits
Tencent's November 4, 2026 full Hy4 release - a 1M-context model that adds vision and computer use at about $0.90/$2.70, with weights promised but not yet public. Released November 4, 2026 by Tencent, it is built for first Hunyuan model with vision and computer use, adding image input to the text-only Hy4 Preview, tencent-reported gains over the preview of 19.1% on GameDev and 9.8% on GameLogic, tencent-reported financial evaluation of 3.04, ahead of DeepSeek V4.1 Flash 1017 at 2.97, and about $0.90/$2.70 per million tokens, with 50% off on Tencent Cloud TokenHub through December 31, 2026 (OpenRouter lists $0.417/$1.25 with that discount).
Its trade-offs: weights not public as of November 5, 2026 - Tencent says weights and system cards will come in the coming days, and no license is announced yet, only the earlier Hy4 Preview is downloadable today (Apache 2.0), published improvements are Tencent's own and mostly relative to the preview, with no SWE-bench Verified figure, and sources differ on list price: Tencent says about $0.90/$2.70, while OpenRouter and Vals show $0.83/$2.50. At $0.9 in / $2.7 out per million tokens, it sits in the budget price band.
The bottom line for this matchup
The defining split here is open vs. closed. DeepSeek V4 gives you weights you control — self-host it, fine-tune it, keep data in-house, pay only for hardware. Hunyuan Hy4 gives you a managed, always-updated API with no infrastructure to run. Teams with GPUs, privacy requirements, or huge volume often favour the open model; teams that want zero ops and the latest capabilities favour the closed one. Capability is close enough that this operational question, not the benchmark, usually decides it.
Want both DeepSeek V4 and Hunyuan Hy4 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.
See pricingFrequently asked questions
Is DeepSeek V4 or Hunyuan Hy4 better for coding?
Public SWE-Bench figures are not available for Hunyuan Hy4, so the honest test is your own repository — run an identical real bug through both. By design, DeepSeek V4 leans toward near-frontier coding at ~1/12 the cost while Hunyuan Hy4 leans toward first hunyuan model with vision and computer use, adding image input to the text-only hy4 preview, and that positioning usually predicts which feels better on your codebase.
Which is cheaper, DeepSeek V4 or Hunyuan Hy4?
DeepSeek V4 is open-weight, so self-hosting means no per-token fee (you pay for hardware instead), while Hunyuan Hy4 is API-metered at $0.9/$2.7 per 1M tokens. For most teams without GPUs, the API model is cheaper to start; at very high volume, self-hosting can win.
Which has the bigger context window?
Effectively neither — 1M vs 1M tokens is a difference of a few percent. Remember advertised ≠ usable: recall typically degrades before the ceiling.
Can I use both DeepSeek V4 and Hunyuan Hy4 together?
Yes — a multi-model platform like LumiChats gives you DeepSeek V4, Hunyuan Hy4 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 or Hunyuan Hy4?
Hunyuan Hy4 — released November 4, 2026, about 6 months after DeepSeek V4.
Related comparisons
Specifications and benchmarks reflect publicly reported figures as of June 2026 and may change as providers release updates. Always verify on your own workload.