Pick Hunyuan Hy4 Preview for gpqa diamond (92.3) or terminal-bench (85.4). Pick LongCat-2.0 for near-frontier agentic coding — topped openrouter anonymously as 'owl alpha' for two months or massive native 1m context at near-linear cost via sparse attention. On a tight budget at scale, LongCat-2.0 is the value pick.
Hunyuan Hy4 Preview (Tencent) and LongCat-2.0 (Meituan) are two of the models people most often weigh against each other in 2026. 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. LongCat-2.0 is a trillion-parameter, MIT-licensed open MoE delivering near-frontier agentic coding at 1M context — trained entirely on Chinese chips. Their biggest split is price, and the breakdown below shows exactly how that plays out for your workload.
Key differences
Context window: both advertise 1M+ tokens (~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 54 days (released August 28, 2026), usually meaning fresher training data and capabilities.
Specifications
Spec
Hunyuan Hy4 Preview
LongCat-2.0
Provider
Tencent (China)
Meituan (China)
Released
August 28, 2026
July 5, 2026
Context window
1M+ tokens (~1,500 pages)
1M (~1,500 pages)
Price (in/out)
$0.834/$2.501 per 1M tokens
Open weight (self-host / free)
Open weight?
Yes — self-hostable
Yes — self-hostable
Modalities
text
text, code
SWE-Bench Verified
Not published
Not published
MRCR v2 @ 1M
Not published
Not published
Who wins what
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 — LongCat-2.0 is comparatively weak here — headline scores are vendor-reported on SWE-Bench Pro, not the Verified set
SWE-bench Multilingual (82.9): Hunyuan Hy4 Preview — Hunyuan Hy4 Preview lists sWE-bench Multilingual (82.9) among its strengths; LongCat-2.0 does not.
Near-frontier agentic coding — topped OpenRouter anonymously as 'Owl Alpha' for two months: LongCat-2.0 — LongCat-2.0 lists near-frontier agentic coding — topped OpenRouter anonymously as 'Owl Alpha' for two months among its strengths; Hunyuan Hy4 Preview does not.
Massive native 1M context at near-linear cost via sparse attention: LongCat-2.0 — Hunyuan Hy4 Preview is comparatively weak here — text-only, no native vision support
Fully MIT-licensed 1.6T-parameter mixture-of-experts (about 48B active): LongCat-2.0 — LongCat-2.0 lists fully MIT-licensed 1.6T-parameter mixture-of-experts (about 48B active) among its strengths; Hunyuan Hy4 Preview does not.
Lowest cost at scale: LongCat-2.0 — Its weights are open, so at volume you pay for your own hardware instead of Hunyuan Hy4 Preview's $0.834/$2.501 per 1M tokens.
Which should you pick?
A cost-sensitive startup shipping high volume: LongCat-2.0 — At Open weight (self-host / free) it undercuts Hunyuan Hy4 Preview, and on millions of tokens that margin decides the monthly bill.
Anyone whose priority is gpqa diamond (92.3): Hunyuan Hy4 Preview — It is specifically built for that.
Anyone whose priority is near-frontier agentic coding — topped openrouter anonymously as 'owl alpha' for two months: LongCat-2.0 — That is its strongest area.
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 are real: 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.
LongCat-2.0: where it fits
A trillion-parameter, MIT-licensed open MoE delivering near-frontier agentic coding at 1M context — trained entirely on Chinese chips. Released July 5, 2026 by Meituan, it is built for near-frontier agentic coding — topped OpenRouter anonymously as 'Owl Alpha' for two months, massive native 1M context at near-linear cost via sparse attention, fully MIT-licensed 1.6T-parameter mixture-of-experts (about 48B active), and trained end to end on domestic Chinese chips, independent of Nvidia hardware.
Its trade-offs: a 1.6T model is extremely expensive to self-host, so most use leans on the China-hosted API, and headline scores are vendor-reported on SWE-Bench Pro, not the Verified set. As an open-weight model, its running cost is your own hardware rather than a per-token fee.
The bottom line for this matchup
Hunyuan Hy4 Preview and LongCat-2.0 overlap enough that the right pick depends on your specific job. LongCat-2.0 costs less per token; and each leads in its own area — Hunyuan Hy4 Preview for gpqa diamond (92.3), LongCat-2.0 for near-frontier agentic coding — topped openrouter anonymously as 'owl alpha' for two months. Rather than crowning one, run the same hard task through both once and let the results decide.
Frequently asked questions
Is Hunyuan Hy4 Preview or LongCat-2.0 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 Hy4 Preview leans toward gpqa diamond (92.3) while LongCat-2.0 leans toward near-frontier agentic coding — topped openrouter anonymously as 'owl alpha' for two months, and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Hunyuan Hy4 Preview or LongCat-2.0?
LongCat-2.0 is cheaper — $0.834/$2.501 per 1M tokens vs Open weight (self-host / free).
Which has the bigger context window?
Both advertise 1M+ tokens (~1,500 pages). Remember advertised ≠ usable: recall typically degrades before the ceiling.
Can I use both Hunyuan Hy4 Preview and LongCat-2.0 together?
Yes — a multi-model platform like LumiChats gives you Hunyuan Hy4 Preview, LongCat-2.0 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 Hy4 Preview or LongCat-2.0?
Hunyuan Hy4 Preview — released August 28, 2026, about 54 days after LongCat-2.0.
Hunyuan Hy4 Preview vs LongCat-2.0
Tencent · China | Meituan · China · Updated June 2026
Quick verdict
Pick Hunyuan Hy4 Preview for gpqa diamond (92.3) or terminal-bench (85.4). Pick LongCat-2.0 for near-frontier agentic coding — topped openrouter anonymously as 'owl alpha' for two months or massive native 1m context at near-linear cost via sparse attention. On a tight budget at scale, LongCat-2.0 is the value pick.
Hunyuan Hy4 Preview (Tencent) and LongCat-2.0 (Meituan) are two of the models people most often weigh against each other in 2026. 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. LongCat-2.0 is a trillion-parameter, MIT-licensed open MoE delivering near-frontier agentic coding at 1M context — trained entirely on Chinese chips. Their biggest split is price, and the breakdown below shows exactly how that plays out for your workload.
Key differences at a glance
▸Context window: both advertise 1M+ tokens (~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 54 days (released August 28, 2026), usually meaning fresher training data and capabilities.
Side-by-side specs
Spec
Hunyuan Hy4 Preview
LongCat-2.0
Provider
Tencent (China)
Meituan (China)
Released
August 28, 2026
July 5, 2026
Context window
1M+ tokens (~1,500 pages)
1M (~1,500 pages)
Price (in/out)
$0.834/$2.501 per 1M tokens
Open weight (self-host / free)
Open weight?
Yes — self-hostable
Yes — self-hostable
Modalities
text
text, code
SWE-Bench Verified
Not published
Not published
MRCR v2 @ 1M
Not published
Not published
Who wins what
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
LongCat-2.0 is comparatively weak here — headline scores are vendor-reported on SWE-Bench Pro, not the Verified set
SWE-bench Multilingual (82.9)
Hunyuan Hy4 Preview
Hunyuan Hy4 Preview lists sWE-bench Multilingual (82.9) among its strengths; LongCat-2.0 does not.
Near-frontier agentic coding — topped OpenRouter anonymously as 'Owl Alpha' for two months
LongCat-2.0
LongCat-2.0 lists near-frontier agentic coding — topped OpenRouter anonymously as 'Owl Alpha' for two months among its strengths; Hunyuan Hy4 Preview does not.
Massive native 1M context at near-linear cost via sparse attention
LongCat-2.0
Hunyuan Hy4 Preview is comparatively weak here — text-only, no native vision support
LongCat-2.0 lists fully MIT-licensed 1.6T-parameter mixture-of-experts (about 48B active) among its strengths; Hunyuan Hy4 Preview does not.
Lowest cost at scale
LongCat-2.0
Its weights are open, so at volume you pay for your own hardware instead of Hunyuan Hy4 Preview's $0.834/$2.501 per 1M tokens.
Which should you pick?
A cost-sensitive startup shipping high volume
→ LongCat-2.0
At Open weight (self-host / free) it undercuts Hunyuan Hy4 Preview, and on millions of tokens that margin decides the monthly bill.
Anyone whose priority is gpqa diamond (92.3)
→ Hunyuan Hy4 Preview
It is specifically built for that.
Anyone whose priority is near-frontier agentic coding — topped openrouter anonymously as 'owl alpha' for two months
→ LongCat-2.0
That is its strongest area.
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 are real: 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.
LongCat-2.0: where it fits
A trillion-parameter, MIT-licensed open MoE delivering near-frontier agentic coding at 1M context — trained entirely on Chinese chips. Released July 5, 2026 by Meituan, it is built for near-frontier agentic coding — topped OpenRouter anonymously as 'Owl Alpha' for two months, massive native 1M context at near-linear cost via sparse attention, fully MIT-licensed 1.6T-parameter mixture-of-experts (about 48B active), and trained end to end on domestic Chinese chips, independent of Nvidia hardware.
Its trade-offs: a 1.6T model is extremely expensive to self-host, so most use leans on the China-hosted API, and headline scores are vendor-reported on SWE-Bench Pro, not the Verified set. As an open-weight model, its running cost is your own hardware rather than a per-token fee.
The bottom line for this matchup
Hunyuan Hy4 Preview and LongCat-2.0 overlap enough that the right pick depends on your specific job. LongCat-2.0 costs less per token; and each leads in its own area — Hunyuan Hy4 Preview for gpqa diamond (92.3), LongCat-2.0 for near-frontier agentic coding — topped openrouter anonymously as 'owl alpha' for two months. Rather than crowning one, run the same hard task through both once and let the results decide.
Want both Hunyuan Hy4 Preview and LongCat-2.0 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 Hunyuan Hy4 Preview or LongCat-2.0 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 Hy4 Preview leans toward gpqa diamond (92.3) while LongCat-2.0 leans toward near-frontier agentic coding — topped openrouter anonymously as 'owl alpha' for two months, and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Hunyuan Hy4 Preview or LongCat-2.0?
LongCat-2.0 is cheaper — $0.834/$2.501 per 1M tokens vs Open weight (self-host / free).
Which has the bigger context window?
Both advertise 1M+ tokens (~1,500 pages). Remember advertised ≠ usable: recall typically degrades before the ceiling.
Can I use both Hunyuan Hy4 Preview and LongCat-2.0 together?
Yes — a multi-model platform like LumiChats gives you Hunyuan Hy4 Preview, LongCat-2.0 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 Hy4 Preview or LongCat-2.0?
Hunyuan Hy4 Preview — released August 28, 2026, about 54 days after LongCat-2.0.
Specifications and benchmarks reflect publicly reported figures as of June 2026 and may change as providers release updates. Always verify on your own workload.