DeepSeek V3.2 vs Kimi K2 Thinking
At a Glance
| Compare |  DeepSeek V3.2DeepSeek |  Kimi K2 ThinkingMoonshot AI |
|---|---|---|
| Pricing and Limits | ||
| Input priceFrom · USD / 1M tokens | $0.26Deepinfra ↗ · Oct 19, 2026 | $0.60Openrouter ↗ · Oct 19, 2026 |
| Output priceFrom · USD / 1M tokens | $0.38Deepinfra ↗ · Oct 19, 2026 | $2.50Openrouter ↗ · Oct 19, 2026 |
| Context windowMaximum documented tokens | 164K | 262K |
| Model facts checked | Aug 28, 2026View model evidence → | Aug 28, 2026View model evidence → |
Token prices are the lowest available sourced USD rates; input and output may use different providers. Cost ranking estimates output spend on LiveBench, not a full request bill. Ranking methodology →
Available Benchmarks
Side-by-Side Facts
| Field | DeepSeek-V3.2 | Kimi-K2-Thinking |
|---|---|---|
| Developer | DeepSeek | Moonshot AI |
| Family | Deepseek V3 2 | Kimi K2 Thinking |
| Model | DeepSeek-V3.2 | Kimi-K2-Thinking |
| Version | DeepSeek-V3.2 | Kimi-K2-Thinking |
| Lifecycle | active | active |
| Released | 2025-12-01 | 2025-11-06 |
| Knowledge cutoff | Unknown | Unknown |
| Input modalities | Text | Text |
| Output modalities | Text | Text |
| Context window | 164K | 262K |
| Total parameters | 685.4B | 1.03T |
| Active parameters | Unknown | 32B |
| License | mit | other |
| Open weights | Yes | Yes |
| API available | Yes | Yes |
| Self-hostable | Yes | Yes |
| Provider access | Deepinfra (Standard), Hugging Face (Standard), Openrouter (Standard) | Hugging Face (Standard), Openrouter (Standard) |
| Capabilities | chat, generation, reasoning | chat, generation, reasoning, tools |
DeepSeek V3.2 Capabilities
Kimi K2 Thinking Capabilities
Related Comparisons
All text comparisons →| A | Pair | B | Context |
|---|---|---|---|
DeepSeek-V3.2DeepSeek | vs |  Phi-4-reasoningMicrosoft | cross-developer peerstext |
DeepSeek-V3.2DeepSeek | vs | DeepSeek-V4-ProDeepSeek | family variantstext |
DeepSeek-V3.2DeepSeek | vs | DeepSeek-V4-Pro-BaseDeepSeek | family variantstext |
DeepSeek-R1DeepSeek | vs | DeepSeek-V3.2DeepSeek | family variantstext |
DeepSeek-V3DeepSeek | vs | DeepSeek-V3.2DeepSeek | family variantstext |
DeepSeek-V3.2DeepSeek | vs |  Llama-3.1-405BMeta | cross-developer peerstext |
DeepSeek-V3.2DeepSeek | vs | cross-developer peerstext | |
DeepSeek-V3.2DeepSeek | vs | Llama-3.1-70BMeta | cross-developer peerstext |
DeepSeek-V3.2DeepSeek | vs |  GLM-5Z.ai | cross-developer peerstext |
DeepSeek-V3.2DeepSeek | vs | GLM-5.1Z.ai | cross-developer peerstext |
DeepSeek-V3.2DeepSeek | vs | GLM-5.2Z.ai | cross-developer peerstext |
Primary Evidence
Sources and Freshness
Questions
DeepSeek V3.2 vs Kimi K2 Thinking FAQs
Is DeepSeek V3.2 or Kimi K2 Thinking better for coding?+
This comparison does not currently contain a protocol-matched coding benchmark for both DeepSeek V3.2 and Kimi K2 Thinking, so Model Markets cannot name a coding leader from pricing, context size, or capability labels alone.
Which is cheaper, DeepSeek V3.2 or Kimi K2 Thinking?+
DeepSeek V3.2 is $0.26 and Kimi K2 Thinking is $0.60 per million tokens, so DeepSeek V3.2 is cheaper on this metric. DeepSeek V3.2 is $0.38 and Kimi K2 Thinking is $2.50 per million tokens, so DeepSeek V3.2 is cheaper on this metric.
Which has a larger context window, DeepSeek V3.2 or Kimi K2 Thinking?+
Kimi K2 Thinking has the larger sourced context window. DeepSeek V3.2 supports 163,840 tokens and Kimi K2 Thinking supports 262,144 tokens.
Which performs better in benchmarks, DeepSeek V3.2 or Kimi K2 Thinking?+
There is no overall benchmark winner: At least two independently verified, protocol-matched benchmarks are required for an overall winner.
Can DeepSeek V3.2 or Kimi K2 Thinking be self-hosted?+
Both models have the same sourced self-hosting status: supported. DeepSeek V3.2 is open weight; Kimi K2 Thinking is open weight.
Can DeepSeek V3.2 and Kimi K2 Thinking understand images?+
DeepSeek V3.2 is not documented with image input; Kimi K2 Thinking is not documented with image input. This reflects supported input modalities, not vision quality.
Which can generate longer answers, DeepSeek V3.2 or Kimi K2 Thinking?+
Kimi K2 Thinking has a sourced maximum output of 131,072 tokens; DeepSeek V3.2's maximum output is not reported. A larger limit cannot be determined.
Do DeepSeek V3.2 and Kimi K2 Thinking support reasoning and tool use?+
DeepSeek V3.2: reasoning. Kimi K2 Thinking: reasoning and tool calling. Feature support does not establish relative quality.
Which is available from more inference providers, DeepSeek V3.2 or Kimi K2 Thinking?+
DeepSeek V3.2 has 3 sourced provider routes; Kimi K2 Thinking has 2, so DeepSeek V3.2 has broader tracked availability.
Which offers better value, DeepSeek V3.2 or Kimi K2 Thinking?+
There is no universal value winner. Compare the input and output prices above with the matched benchmark result for your workload: cheaper tokens can be offset by different quality, token usage, latency, or provider availability.