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DeepSeek V3.2 Thinking

deepseek·deepseek/deepseek-v3.2-thinking·GA·Closed·deepseek series
DeepSeek chat model for instruction following, coding, and analysis

DeepSeek V3.2 Thinking is offered by 3 providers on this page. Its reference price is $0.62 per 1M input tokens and $1.85 per 1M output tokens. The lowest paid channel is NanoGPT at $0.28 / $0.42 per 1M, about 2.2× below the reference price. That channel is a third-party gateway, so confirm its availability and rate limits before depending on it.

The context window is 128,000 tokens at the reference host, but hosts report different limits, from 128,000 to 163,000, so the usable window depends on the provider you pick. It supports reasoning, tool use, and structured output. Accepted input modalities are Text and PDF. Providers report the capability flags inconsistently, so verify a specific feature against the host you plan to use. Its training knowledge cuts off at 2024-07.

Specs & pricing

Input / output per 1M tokens
Reference price·Vercel AI Gateway
$0.62 / $1.85
Blended $0.93 · Cache read —
Lowest paid·NanoGPTGateway
$0.28 / $0.42
Blended $0.32 · 2.2× spread
Context
128,000
Output limit
8,000
Knowledge cutoff
2024-07
Released / updated
2025-12-01 / 2025-12-01
Capabilities
✓ Reasoning✓ Tool use✓ Structured output✓ TemperatureAttachments
⚠ Providers report capability flags inconsistently
Modalities
TextPDF

Available at 3 providers3 with public prices

ProviderTierInputOutputCache readCache writeContextOutput limitStatus
NanoGPT
deepseek/deepseek-v3.2:thinking
Gateway$0.28$0.42$0.14—163,000 ⚠65,536
302.AIGateway$0.29$0.43——128,000128,000
Vercel AI GatewayCloud$0.62$1.85——128,0008,000

Sorted by blended price (input×0.75 + output×0.25) asc. The official channel always shows regardless of rank. Whether a gateway's low price is actually usable can't be verified.

Reasoning control

effort = noneeffort = loweffort = mediumeffort = high

Interleaved thinking (reasoning between tool calls) is declared by 1 of 3 providers.

2 / 3 providers expose no reasoning control (reasoning_options: []).

Your usage cost

1NanoGPT$60.20
2302.AI$79.50
3Vercel AI Gateway$216.50
The cheapest paid channel is the only channel.

Price historyone sample accumulated per data sync

Input listOutput listMin blended
$1.85$02026-08-052026-08-132026-08-05 · Input list $0.622026-08-06 · Input list $0.622026-08-07 · Input list $0.622026-08-08 · Input list $0.622026-08-09 · Input list $0.622026-08-10 · Input list $0.622026-08-11 · Input list $0.622026-08-12 · Input list $0.622026-08-13 · Input list $0.622026-08-05 · Output list $1.852026-08-06 · Output list $1.852026-08-07 · Output list $1.852026-08-08 · Output list $1.852026-08-09 · Output list $1.852026-08-10 · Output list $1.852026-08-11 · Output list $1.852026-08-12 · Output list $1.852026-08-13 · Output list $1.852026-08-05 · Min blended $0.322026-08-06 · Min blended $0.322026-08-07 · Min blended $0.322026-08-08 · Min blended $0.322026-08-09 · Min blended $0.322026-08-10 · Min blended $0.322026-08-11 · Min blended $0.322026-08-12 · Min blended $0.322026-08-13 · Min blended $0.32

Related models

DeepSeek: DeepSeek Pro Latestsame series$0.19 / $4.20DeepSeek V4 Flash Latestsame series$0.015 / $1.28DeepSeek Latestsame series$1.10 / $2.50GLM-5.3-Flashcheaper alternative$0.15 / $0.50DeepSeek V4.1 Flashcheaper alternative$0.15 / $0.60GPT-5.6 Lunacheaper alternative$0.20 / $1.20GPT-5.4 nanocheaper alternative$0.20 / $1.25
Data partly from models.dev (MIT) · Vercel AI Gateway official docs ↗