vs
10:0
overall capability wins (0 ties across 10 scored). Hy3 leads overall.
- Reasoning5:0
- Coding3:0
- Tool use1:0
- Composite indices2:0
- Pricing3:0
- Specs1:0
Verdict
Hy3 leads coding (widest gap: +346.0 on WebDev Elo); Hy3 offers ~2.0x larger context (256K vs 128K); Hy3 ships open weights (Apache 2.0).
- Hy3 leads coding (widest gap: +346.0 on WebDev Elo)
- Hy3 offers ~2.0x larger context (256K vs 128K)
- Hy3 ships open weights (Apache 2.0)
- Hy3 is ~1.6x cheaper on a blended token basis than Mercury 2
Cost for 1M in + 250K out
Illustrative chat workload at primary-provider list prices.
- Hy3
- $0.26
- Mercury 2
- $0.44
Hy3 is about 1.7x cheaper on this workload.
Price per 1M tokens
Full comparison
Organization
Tencent
Inception Labs
Family
Other
Other
License
Apache 2.0
Proprietary
Open weights
Yes
No
Release
Jul 6, 2026
Sep 1, 2026
Knowledge cutoff
-
-
API / provider
Tencent Cloud TokenHub
Inception Labs
Modalities
text → text
text → text
Specs
Context window
256K
128K
Max output
-
-
Parameters
295B (21B act.)
—
Pricing
Input $/1M
$0.13
$0.25
Output $/1M
$0.53
$0.75
Blended $/1M (3∶1)
$0.23
$0.38
Speed
tok/s
-
-
TTFT (s)
-
-
Reasoning
MMLU-Pro
—
—
GPQA Diamond
89.7
77.0
Humanity's Last Exam
33.5
17.1
AIME 2025
—
—
MATH-500
—
—
Humanity's Last Exam (with tools)
—
—
AA-Omniscience Accuracy
32.0
21.2
AA-LCR v1.1
79.0
43.7
CritPt
4.9
0.8
MMMU-Pro
—
—
IFBench
—
69.8
Chartography
—
—
Chartography (With Tools)
—
—
Coding
SWE-bench Verified
—
—
SWE-bench Pro
—
—
SWE-bench Multilingual
—
—
LiveCodeBench
—
—
Terminal-Bench 2.1
64.4
27.3
Aider Polyglot
—
—
Terminal-Bench 3
—
—
BigCodeBench
—
—
SciCode
48.6
37.7
CursorBench
—
—
SWE-Rebench
—
—
NL2Repo-Bench
—
—
DeepSWE
—
—
WebDev Arena
1,513
1,167
Terminal-Bench 4.0
—
—
CursorBench 4.0
—
—
FrontierCode v1.1 (Main)
—
—
Arena
LMArena Elo
1,456
—
| Metric | Hy3 | Mercury 2 | Delta |
|---|---|---|---|
| Identity | |||
| Organization | Tencent | Inception Labs | — |
| Family | Other | Other | — |
| License | Apache 2.0 | Proprietary | — |
| Open weights | Yes | No | — |
| Release | Jul 6, 2026 | Sep 1, 2026 | — |
| Knowledge cutoff | - | - | — |
| API / provider | Tencent Cloud TokenHub | Inception Labs | — |
| Modalities | text → text | text → text | — |
| Specs | |||
| Context window | 256K | 128K | A +128K |
| Max output | - | - | — |
| Parameters | 295B (21B act.) | — | — |
| Pricing | |||
| Input $/1M | $0.13 | $0.25 | A +$0.12 |
| Output $/1M | $0.53 | $0.75 | A +$0.22 |
| Blended $/1M (3∶1) | $0.23 | $0.38 | A +$0.14 |
| Speed | |||
| tok/s | - | - | — |
| TTFT (s) | - | - | — |
| Reasoning | |||
| MMLU-Pro | — | — | — |
| GPQA Diamond | 89.7 | 77.0 | A +12.7 pts |
| Humanity's Last Exam | 33.5 | 17.1 | A +16.4 pts |
| AIME 2025 | — | — | — |
| MATH-500 | — | — | — |
| Humanity's Last Exam (with tools) | — | — | — |
| AA-Omniscience Accuracy | 32.0 | 21.2 | A +10.8 pts |
| AA-LCR v1.1 | 79.0 | 43.7 | A +35.3 pts |
| CritPt | 4.9 | 0.8 | A +4.1 pts |
| MMMU-Pro | — | — | — |
| IFBench | — | 69.8 | — |
| Chartography | — | — | — |
| Chartography (With Tools) | — | — | — |
| Coding | |||
| SWE-bench Verified | — | — | — |
| SWE-bench Pro | — | — | — |
| SWE-bench Multilingual | — | — | — |
| LiveCodeBench | — | — | — |
| Terminal-Bench 2.1 | 64.4 | 27.3 | A +37.1 pts |
| Aider Polyglot | — | — | — |
| Terminal-Bench 3 | — | — | — |
| BigCodeBench | — | — | — |
| SciCode | 48.6 | 37.7 | A +10.9 pts |
| CursorBench | — | — | — |
| SWE-Rebench | — | — | — |
| NL2Repo-Bench | — | — | — |
| DeepSWE | — | — | — |
| WebDev Arena | 1,513 | 1,167 | A +346 Elo |
| Terminal-Bench 4.0 | — | — | — |
| CursorBench 4.0 | — | — | — |
| FrontierCode v1.1 (Main) | — | — | — |
| Arena | |||
| LMArena Elo | 1,456 | — | — |
Hy3
- Context
- 256K
- Parameters
- 295B (21B act.)
- Price
- $0.13 / $0.53
- Speed
- —
- Modalities
- text → text
- License
- Apache 2.0
Tencent's July 2026 general-availability Hunyuan 3 release (295B/21B-active MoE, Apache 2.0) succeeding the April 2026 Hy3 preview with expanded post-training on feedback from 50+ products.
Mercury 2
- Context
- 128K
- Parameters
- —
- Price
- $0.25 / $0.75
- Speed
- —
- Modalities
- text → text
- License
- Proprietary
Inception Labs' diffusion-based (non-autoregressive) reasoning LLM, API-only with a 128K context window and high-throughput inference on Blackwell GPUs.
Benchmark charts
Winner bars are emphasized. Per-benchmark deltas sit above each chart.