Pick Hunyuan Hy3 for frontier-level reported reasoning and science (gpqa diamond 90.4) at low active-parameter cost or runs a 295b model at the cost of a 21b — only 21b parameters active per token. Pick MiniMax M3 for open-weight 428b moe (~23b active per token) with a 1m-token context or native multimodal input — text, image and video. On a tight budget at scale, Hunyuan Hy3 is the value pick.
Hunyuan Hy3 (Tencent) and MiniMax M3 (MiniMax) are two of the models people most often weigh against each other in 2026. Hunyuan Hy3 is a 295B Apache-2.0 open MoE that reaches frontier reasoning quality while running at roughly 21B active-parameter cost. MiniMax M3 is miniMax's open-weight 428B multimodal model with a 1M context — strong reported coding (59.0 SWE-Bench Pro) at low entry pricing. They diverge most on price and context window — each quantified below from the models' real specs.
Key differences
Context window: MiniMax M3 holds 4.1× more — 1M (~1,573 pages) vs 256K (~384 pages). But effective recall usually fades long before the advertised ceiling, so the bigger number only helps if the model reasons over it.
Recency: Hunyuan Hy3 is the newer model by about 35 days (released July 6, 2026), usually meaning fresher training data and capabilities.
Specifications
Spec
Hunyuan Hy3
MiniMax M3
Provider
Tencent (China)
MiniMax (China)
Released
July 6, 2026
June 2026
Context window
256K (~384 pages)
1M (~1,573 pages)
Price (in/out)
Open weight (self-host / free)
$0.3/$1.2 per 1M tokens
Open weight?
Yes — self-hostable
Yes — self-hostable
Modalities
text, code
text, image, video, code
SWE-Bench Verified
Not published
Not published
MRCR v2 @ 1M
Not published
Not published
Who wins what
Frontier-level reported reasoning and science (GPQA Diamond 90.4) at low active-parameter cost: Hunyuan Hy3 — MiniMax M3 is comparatively weak here — miniMax's own reported 80.5 SWE-Bench Verified figure is vendor-stated, not independently verified
Runs a 295B model at the cost of a 21B — only 21B parameters active per token: Hunyuan Hy3 — MiniMax M3 is comparatively weak here — price doubles to $0.60/$2.40 above 512K tokens — not flat across 1M
Clean, unrestricted Apache-2.0 license with no geographic carve-out: Hunyuan Hy3 — A 295B Apache-2.0 open MoE that reaches frontier reasoning quality while running at roughly 21B active-parameter cost — and it is the newer of the two.
Open-weight 428B MoE (~23B active per token) with a 1M-token context: MiniMax M3 — Its 1M window holds about 4.1× more than Hunyuan Hy3's 256K in a single prompt.
Native multimodal input — text, image and video: MiniMax M3 — MiniMax's open-weight 428B multimodal model with a 1M context — strong reported coding (59.0 SWE-Bench Pro) at low entry pricing — and it carries the larger 1M context.
Reports 59.0 on SWE-Bench Pro (a strong open-weight score), surpassing GPT-5.5: MiniMax M3 — Hunyuan Hy3 is comparatively weak here — benchmarks are largely self-reported, and the ultra-low hosted pricing is a limited promotion
Lowest cost at scale: Hunyuan Hy3 — Its weights are open, so at volume you pay for your own hardware instead of MiniMax M3's $0.3/$1.2 per 1M tokens.
Largest single-prompt input: MiniMax M3 — Its 1M window is about 4.1× larger than Hunyuan Hy3's 256K, fitting roughly 1,573 pages in one prompt.
Which should you pick?
A cost-sensitive startup shipping high volume: Hunyuan Hy3 — At Open weight (self-host / free) it undercuts MiniMax M3, and on millions of tokens that margin decides the monthly bill.
Someone analysing very long documents or codebases: MiniMax M3 — Larger 1M window fits more in one prompt.
Anyone whose priority is frontier-level reported reasoning and science (gpqa diamond 90.4) at low active-parameter cost: Hunyuan Hy3 — It is specifically built for that.
Anyone whose priority is open-weight 428b moe (~23b active per token) with a 1m-token context: MiniMax M3 — That is its strongest area.
Hunyuan Hy3: where it fits
A 295B Apache-2.0 open MoE that reaches frontier reasoning quality while running at roughly 21B active-parameter cost. Released July 6, 2026 by Tencent, it is built for frontier-level reported reasoning and science (GPQA Diamond 90.4) at low active-parameter cost, runs a 295B model at the cost of a 21B — only 21B parameters active per token, clean, unrestricted Apache-2.0 license with no geographic carve-out, and broad day-one ecosystem support plus an FP8 checkpoint.
Its trade-offs are real: benchmarks are largely self-reported, and the ultra-low hosted pricing is a limited promotion, and the hosted API is China-jurisdiction, and self-hosting a 295B MoE still needs serious hardware. As an open-weight model, its running cost is your own hardware rather than a per-token fee.
MiniMax M3: where it fits
MiniMax's open-weight 428B multimodal model with a 1M context — strong reported coding (59.0 SWE-Bench Pro) at low entry pricing. Released June 2026 by MiniMax, it is built for open-weight 428B MoE (~23B active per token) with a 1M-token context, native multimodal input — text, image and video, reports 59.0 on SWE-Bench Pro (a strong open-weight score), surpassing GPT-5.5, and low entry pricing at $0.30/$1.20 per million up to 512K tokens.
Its trade-offs: price doubles to $0.60/$2.40 above 512K tokens — not flat across 1M, miniMax's own reported 80.5 SWE-Bench Verified figure is vendor-stated, not independently verified, sWE-Bench Pro is a different, harder benchmark than SWE-Bench Verified, and newer than M2.7 but with less independent testing so far. At $0.3 in / $1.2 out per million tokens, it sits in the budget price band.
The bottom line for this matchup
Hunyuan Hy3 and MiniMax M3 overlap enough that the right pick depends on your specific job. Hunyuan Hy3 costs less per token; MiniMax M3 holds the larger context; and each leads in its own area — Hunyuan Hy3 for frontier-level reported reasoning and science (gpqa diamond 90.4) at low active-parameter cost, MiniMax M3 for open-weight 428b moe (~23b active per token) with a 1m-token context. Rather than crowning one, run the same hard task through both once and let the results decide.
Frequently asked questions
Is Hunyuan Hy3 or MiniMax M3 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, Hunyuan Hy3 leans toward frontier-level reported reasoning and science (gpqa diamond 90.4) at low active-parameter cost while MiniMax M3 leans toward open-weight 428b moe (~23b active per token) with a 1m-token context, and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Hunyuan Hy3 or MiniMax M3?
Hunyuan Hy3 is cheaper — Open weight (self-host / free) vs $0.3/$1.2 per 1M tokens.
Which has the bigger context window?
MiniMax M3 — 1M vs 256K, about 4.1× larger. Useful only if the model actually reasons over the full window, which not all do.
Can I use both Hunyuan Hy3 and MiniMax M3 together?
Yes — a multi-model platform like LumiChats gives you Hunyuan Hy3, MiniMax M3 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, Hunyuan Hy3 or MiniMax M3?
Hunyuan Hy3 — released July 6, 2026, about 35 days after MiniMax M3.
Hunyuan Hy3 vs MiniMax M3
Tencent · China | MiniMax · China · Updated June 2026
Quick verdict
Pick Hunyuan Hy3 for frontier-level reported reasoning and science (gpqa diamond 90.4) at low active-parameter cost or runs a 295b model at the cost of a 21b — only 21b parameters active per token. Pick MiniMax M3 for open-weight 428b moe (~23b active per token) with a 1m-token context or native multimodal input — text, image and video. On a tight budget at scale, Hunyuan Hy3 is the value pick.
Hunyuan Hy3 (Tencent) and MiniMax M3 (MiniMax) are two of the models people most often weigh against each other in 2026. Hunyuan Hy3 is a 295B Apache-2.0 open MoE that reaches frontier reasoning quality while running at roughly 21B active-parameter cost. MiniMax M3 is miniMax's open-weight 428B multimodal model with a 1M context — strong reported coding (59.0 SWE-Bench Pro) at low entry pricing. They diverge most on price and context window — each quantified below from the models' real specs.
Key differences at a glance
▸Context window: MiniMax M3 holds 4.1× more — 1M (~1,573 pages) vs 256K (~384 pages). But effective recall usually fades long before the advertised ceiling, so the bigger number only helps if the model reasons over it.
▸Recency: Hunyuan Hy3 is the newer model by about 35 days (released July 6, 2026), usually meaning fresher training data and capabilities.
Side-by-side specs
Spec
Hunyuan Hy3
MiniMax M3
Provider
Tencent (China)
MiniMax (China)
Released
July 6, 2026
June 2026
Context window
256K (~384 pages)
1M (~1,573 pages)
Price (in/out)
Open weight (self-host / free)
$0.3/$1.2 per 1M tokens
Open weight?
Yes — self-hostable
Yes — self-hostable
Modalities
text, code
text, image, video, code
SWE-Bench Verified
Not published
Not published
MRCR v2 @ 1M
Not published
Not published
Who wins what
Frontier-level reported reasoning and science (GPQA Diamond 90.4) at low active-parameter cost
Hunyuan Hy3
MiniMax M3 is comparatively weak here — miniMax's own reported 80.5 SWE-Bench Verified figure is vendor-stated, not independently verified
Runs a 295B model at the cost of a 21B — only 21B parameters active per token
Hunyuan Hy3
MiniMax M3 is comparatively weak here — price doubles to $0.60/$2.40 above 512K tokens — not flat across 1M
Clean, unrestricted Apache-2.0 license with no geographic carve-out
Hunyuan Hy3
A 295B Apache-2.0 open MoE that reaches frontier reasoning quality while running at roughly 21B active-parameter cost — and it is the newer of the two.
Open-weight 428B MoE (~23B active per token) with a 1M-token context
MiniMax M3
Its 1M window holds about 4.1× more than Hunyuan Hy3's 256K in a single prompt.
Native multimodal input — text, image and video
MiniMax M3
MiniMax's open-weight 428B multimodal model with a 1M context — strong reported coding (59.0 SWE-Bench Pro) at low entry pricing — and it carries the larger 1M context.
Reports 59.0 on SWE-Bench Pro (a strong open-weight score), surpassing GPT-5.5
MiniMax M3
Hunyuan Hy3 is comparatively weak here — benchmarks are largely self-reported, and the ultra-low hosted pricing is a limited promotion
Lowest cost at scale
Hunyuan Hy3
Its weights are open, so at volume you pay for your own hardware instead of MiniMax M3's $0.3/$1.2 per 1M tokens.
Largest single-prompt input
MiniMax M3
Its 1M window is about 4.1× larger than Hunyuan Hy3's 256K, fitting roughly 1,573 pages in one prompt.
Which should you pick?
A cost-sensitive startup shipping high volume
→ Hunyuan Hy3
At Open weight (self-host / free) it undercuts MiniMax M3, and on millions of tokens that margin decides the monthly bill.
Someone analysing very long documents or codebases
→ MiniMax M3
Larger 1M window fits more in one prompt.
Anyone whose priority is frontier-level reported reasoning and science (gpqa diamond 90.4) at low active-parameter cost
→ Hunyuan Hy3
It is specifically built for that.
Anyone whose priority is open-weight 428b moe (~23b active per token) with a 1m-token context
→ MiniMax M3
That is its strongest area.
Hunyuan Hy3: where it fits
A 295B Apache-2.0 open MoE that reaches frontier reasoning quality while running at roughly 21B active-parameter cost. Released July 6, 2026 by Tencent, it is built for frontier-level reported reasoning and science (GPQA Diamond 90.4) at low active-parameter cost, runs a 295B model at the cost of a 21B — only 21B parameters active per token, clean, unrestricted Apache-2.0 license with no geographic carve-out, and broad day-one ecosystem support plus an FP8 checkpoint.
Its trade-offs are real: benchmarks are largely self-reported, and the ultra-low hosted pricing is a limited promotion, and the hosted API is China-jurisdiction, and self-hosting a 295B MoE still needs serious hardware. As an open-weight model, its running cost is your own hardware rather than a per-token fee.
MiniMax M3: where it fits
MiniMax's open-weight 428B multimodal model with a 1M context — strong reported coding (59.0 SWE-Bench Pro) at low entry pricing. Released June 2026 by MiniMax, it is built for open-weight 428B MoE (~23B active per token) with a 1M-token context, native multimodal input — text, image and video, reports 59.0 on SWE-Bench Pro (a strong open-weight score), surpassing GPT-5.5, and low entry pricing at $0.30/$1.20 per million up to 512K tokens.
Its trade-offs: price doubles to $0.60/$2.40 above 512K tokens — not flat across 1M, miniMax's own reported 80.5 SWE-Bench Verified figure is vendor-stated, not independently verified, sWE-Bench Pro is a different, harder benchmark than SWE-Bench Verified, and newer than M2.7 but with less independent testing so far. At $0.3 in / $1.2 out per million tokens, it sits in the budget price band.
The bottom line for this matchup
Hunyuan Hy3 and MiniMax M3 overlap enough that the right pick depends on your specific job. Hunyuan Hy3 costs less per token; MiniMax M3 holds the larger context; and each leads in its own area — Hunyuan Hy3 for frontier-level reported reasoning and science (gpqa diamond 90.4) at low active-parameter cost, MiniMax M3 for open-weight 428b moe (~23b active per token) with a 1m-token context. Rather than crowning one, run the same hard task through both once and let the results decide.
Want both Hunyuan Hy3 and MiniMax M3 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.
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, Hunyuan Hy3 leans toward frontier-level reported reasoning and science (gpqa diamond 90.4) at low active-parameter cost while MiniMax M3 leans toward open-weight 428b moe (~23b active per token) with a 1m-token context, and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Hunyuan Hy3 or MiniMax M3?
Hunyuan Hy3 is cheaper — Open weight (self-host / free) vs $0.3/$1.2 per 1M tokens.
Which has the bigger context window?
MiniMax M3 — 1M vs 256K, about 4.1× larger. Useful only if the model actually reasons over the full window, which not all do.
Can I use both Hunyuan Hy3 and MiniMax M3 together?
Yes — a multi-model platform like LumiChats gives you Hunyuan Hy3, MiniMax M3 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, Hunyuan Hy3 or MiniMax M3?
Hunyuan Hy3 — released July 6, 2026, about 35 days after MiniMax M3.
Specifications and benchmarks reflect publicly reported figures as of June 2026 and may change as providers release updates. Always verify on your own workload.