If you haven’t heard of it yet there’s some good discussion here: https://news.ycombinator.com/item?id=47069179
Pricing is essentially the same: MiMo V2 Flash: $0.09/M input, $0.29/M output Step 3.5 Flash: $0.10/M input, $0.30/M output
MiMo has 41 vs 38 for Step on the Artificial Analysis Intelligence Index, but it's 49 vs 52 for Step on their Agentic Index.
The two boards look nothing alike. Top 3 performance: Claude Opus 4.6, GPT-5.4, Claude Sonnet 4.6. Top 3 cost-effectiveness: StepFun 3.5 Flash, Grok 4.1 Fast, MiniMax M2.7.
The most dramatic split: Claude Opus 4.6 is #1 on performance but #14 on cost-effectiveness. StepFun 3.5 Flash is #1 cost-effectiveness, #5 performance.
Other surprises: GLM-5 Turbo, Xiaomi MiMo v2 Pro, and MiniMax M2.7 all outrank Gemini 3.1 Pro on performance.
Rankings use relative ordering only (not raw scores) fed into a grouped Plackett-Luce model with bootstrap CIs. Same principle as Chatbot Arena — absolute scores are noisy, but "A beat B" is reliable. Full methodology: https://app.uniclaw.ai/arena/leaderboard/methodology?via=hn
I built this as part of OpenClaw Arena — submit any task, pick 2-5 models, a judge agent evaluates in a fresh VM. Public benchmarks are free.