DeepSeek V3.2 vs GLM-5: Benchmarks, Pricing & Capabilities Compared
TL;DR — DeepSeek V3.2 wins for long-context · GLM-5 wins for cost.
DeepSeek V3.2 DeepSeek
- Released
- 2026-02-12
- Context window
- 1M tokens
- Input price
- $0.27 / Mtok
- Output price
- $1.10 / Mtok
Key features
- 1M+ token context window (10x expansion)
- Improved reasoning capabilities
- Open source release
GLM-5 Zhipu AI
- Released
- 2026-02-11
- Context window
- 200K tokens
- Input price
- $0.11 / Mtok
- Output price
- $0.28 / Mtok
Key features
- First frontier model trained on Huawei Ascend chips (no NVIDIA)
- #1 HLE score (50.4%)
- 1.2% hallucination rate via Slime RL
Benchmark comparison
| Benchmark | DeepSeek V3.2 | GLM-5 |
|---|---|---|
| MMLU | 90.1% ✓ | 88.7% |
Pricing comparison
| Metric | DeepSeek V3.2 | GLM-5 |
|---|---|---|
| Input ($/Mtok) | $0.27 | $0.11 |
| Output ($/Mtok) | $1.10 | $0.28 |
| Cached input ($/Mtok) | $0.07 | — |
| Cost per 1M-token roundtrip (1M in + 1M out) | $1.37 | $0.39 |
Context window & modalities
| Attribute | DeepSeek V3.2 | GLM-5 |
|---|---|---|
| Context window | 1M tokens | 200K tokens |
| Input modalities | text | text, image |
| Output modalities | text | text |
| Knowledge cutoff | 2025-09 | 2025-11 |
Verdict by use case
Coding
Insufficient data
Basis: SWE-bench
No shared coding benchmark.
Reasoning
→ DeepSeek V3.2
Basis: MMLU-Pro
DeepSeek V3.2 90.1% vs GLM-5 88.7% on MMLU-Pro.
Math
Insufficient data
Basis: MATH / AIME
No shared math benchmark.
Long context
→ DeepSeek V3.2
Basis: Context window
DeepSeek V3.2 1M tokens vs GLM-5 200K tokens.
Cost
→ GLM-5
Basis: Input $/Mtok
DeepSeek V3.2 $0.27/Mtok vs GLM-5 $0.11/Mtok input.
Changelog & releases
DeepSeek V3.2
Released 2026-02-12
Predecessor: deepseek-deepseek-v3
- 10x context window expansion (128K → 1M+ tokens)
- Sliding-window attention for long-context throughput
- Improved chain-of-thought reasoning
- Native FP8 inference support
GLM-5
Released 2026-02-11
- Trained entirely on Huawei Ascend 910B clusters (no NVIDIA)
- Slime RL fine-tuning drops hallucination rate to 1.2%
- 136x cheaper than Claude Opus 4.5 at comparable quality