Kimi K3.1 Pro vs MiniMax M3
Moonshot AI · China | MiniMax · China · Updated June 2026
Quick verdict
Pick Kimi K3.1 Pro for sparse moe with 2.8t total and about 104b active parameters, post-trained from the kimi k3 base or terminal-bench 4.0 of 65.7% (moonshot) and 67% as measured by artificial analysis. 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. Choose MiniMax M3 if you need self-hosting or data privacy; Kimi K3.1 Pro if you want a managed API.
Kimi K3.1 Pro (Moonshot AI) and MiniMax M3 (MiniMax) are two of the models people most often weigh against each other in 2026. Kimi K3.1 Pro is moonshot's October 23, 2026 post-training upgrade to Kimi K3 - a 2.8T-parameter MoE at $2/$10 with open weights promised by November 4. 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 open vs. closed weights — each quantified below from the models' real specs.
Key differences at a glance
- ▸Price: MiniMax M3 is about 8.7× cheaper on input ($0.23/$0.96 per 1M tokens vs $2/$10 per 1M tokens) — a large enough gap that at scale it can be the single biggest line item in the decision.
- ▸Context window: both advertise 1M tokens (~1,573 pages). Tie on paper — test on your own long inputs, since usable recall varies by model.
- ▸Recency: Kimi K3.1 Pro is the newer model by about 5 months (released October 23, 2026), usually meaning fresher training data and capabilities.
Side-by-side specs
| Spec | Kimi K3.1 Pro | MiniMax M3 |
|---|---|---|
| Provider | Moonshot AI (China) | MiniMax (China) |
| Released | October 23, 2026 | May 31, 2026 |
| Context window | 1M tokens (~1,573 pages) | 1M (~1,573 pages) |
| Price (in/out) | $2/$10 per 1M tokens | $0.23/$0.96 per 1M tokens |
| Open weight? | No — API only | Yes — self-hostable |
| Modalities | text, image, code | text, image, video, code |
| SWE-Bench Verified | Not published | Not published |
| MRCR v2 @ 1M | Not published | Not published |
Who wins what
Sparse MoE with 2.8T total and about 104B active parameters, post-trained from the Kimi K3 base
Kimi K3.1 Pro
Moonshot's October 23, 2026 post-training upgrade to Kimi K3 - a 2.8T-parameter MoE at $2/$10 with open weights promised by November 4 — and it is the newer of the two.
Terminal-Bench 4.0 of 65.7% (Moonshot) and 67% as measured by Artificial Analysis
Kimi K3.1 Pro
MiniMax M3 is comparatively weak here — miniMax's own reported 80.5 SWE-Bench Verified figure is vendor-stated, not independently verified
Artificial Analysis Intelligence Index of 55, second only to Claude Opus 5.5 (58) among the models AI Weekly lists
Kimi K3.1 Pro
Kimi K3.1 Pro lists artificial Analysis Intelligence Index of 55, second only to Claude Opus 5.5 (58) among the models AI Weekly lists among its strengths; MiniMax M3 does not.
Open-weight 428B MoE (~23B active per token) with a 1M-token context
MiniMax M3
Open weights make this possible at all — Kimi K3.1 Pro is API-only, so it cannot leave the vendor's servers.
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 runs cheaper at $0.23/$0.96 per 1M tokens.
Reports 59.0 on SWE-Bench Pro (a strong open-weight score), surpassing GPT-5.5
MiniMax M3
Kimi K3.1 Pro is comparatively weak here — weights promised by November 4, 2026 and not confirmed public as of November 3; license terms not yet disclosed
Lowest cost at scale
MiniMax M3
At $0.23/$0.96 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
→ MiniMax M3
At $0.23/$0.96 per 1M tokens it undercuts Kimi K3.1 Pro, and on millions of tokens that margin decides the monthly bill.
A team with data-privacy or self-hosting needs
→ MiniMax M3
Open weights let you run it on your own hardware; Kimi K3.1 Pro is API-only.
Anyone whose priority is sparse moe with 2.8t total and about 104b active parameters, post-trained from the kimi k3 base
→ Kimi K3.1 Pro
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.
Kimi K3.1 Pro: where it fits
Moonshot's October 23, 2026 post-training upgrade to Kimi K3 - a 2.8T-parameter MoE at $2/$10 with open weights promised by November 4. Released October 23, 2026 by Moonshot AI, it is built for sparse MoE with 2.8T total and about 104B active parameters, post-trained from the Kimi K3 base, terminal-Bench 4.0 of 65.7% (Moonshot) and 67% as measured by Artificial Analysis, artificial Analysis Intelligence Index of 55, second only to Claude Opus 5.5 (58) among the models AI Weekly lists, and standard API price cut by a third versus K3 to $2/$10 per million tokens (Highspeed tier $4/$20).
Its trade-offs are real: weights promised by November 4, 2026 and not confirmed public as of November 3; license terms not yet disclosed, very high output-token use: roughly 150M output tokens across the Artificial Analysis index, self-hosting is impractical - about 1.4 TB of raw weights even at 4-bit, and most benchmarks are internal or use differing harnesses; no SWE-bench Verified figure published. At $2 in / $10 out per million tokens, it sits in the mid price band.
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 May 31, 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 $0.23 in / $0.96 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. MiniMax M3 gives you weights you control — self-host it, fine-tune it, keep data in-house, pay only for hardware. Kimi K3.1 Pro 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 Kimi K3.1 Pro 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.
See pricingFrequently asked questions
Is Kimi K3.1 Pro 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, Kimi K3.1 Pro leans toward sparse moe with 2.8t total and about 104b active parameters, post-trained from the kimi k3 base 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, Kimi K3.1 Pro or MiniMax M3?
MiniMax M3 is open-weight, so self-hosting means no per-token fee (you pay for hardware instead), while Kimi K3.1 Pro is API-metered at $2/$10 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?
Both advertise 1M tokens (~1,573 pages). Remember advertised ≠ usable: recall typically degrades before the ceiling.
Can I use both Kimi K3.1 Pro and MiniMax M3 together?
Yes — a multi-model platform like LumiChats gives you Kimi K3.1 Pro, 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, Kimi K3.1 Pro or MiniMax M3?
Kimi K3.1 Pro — released October 23, 2026, about 5 months after MiniMax M3.
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.