# MiniMax-M2.5 vs Step 3.7 Flash

> Step 3.7 Flash and MiniMax-M2.5 score within a point of each other for open-weight models you run yourself, 59.8 and 59 out of 100. Prices, MCP, x402, uptime and agent notes side by side.

- Canonical: https://www.anchorterminal.com/compare/minimax-m2-5-vs-step-3-7-flash
- Markdown: https://www.anchorterminal.com/compare/minimax-m2-5-vs-step-3-7-flash.md (~9,300 tokens)
- Site index for agents: https://www.anchorterminal.com/llms.txt (the key docs and every listing in one file, at most 16 MB, about 4 million tokens: https://www.anchorterminal.com/llms-full.txt)
- API: https://www.anchorterminal.com/api/v1/index.json
- MCP: https://www.anchorterminal.com/mcp (the whole catalogue as tools, no key)
- DNS: dig +short TXT <slug>.grade.anchorterminal.com (the grade as a DNS TXT record, for a sandbox with no HTTP where names still resolve; also top., best.<category>. and <a>.vs.<b>. under the zone, and the same under grade.letme.dev)
- Licence: CC BY 4.0, credit Anchor Terminal and link this page (https://www.anchorterminal.com/terms/#data)
- Updated: 2026-11-10

Step 3.7 Flash and MiniMax-M2.5 score within a point of each other on agent readiness, 59.8 (C) and 59 (C). Both do open-weight models you run yourself.

- MiniMax-M2.5: grade C, 59/100, rank #99 of 160 open-weight models. Markdown https://www.anchorterminal.com/tools/minimax-m2-5.md · JSON https://www.anchorterminal.com/api/v1/tools/minimax-m2-5.json
- Step 3.7 Flash: grade C, 59.8/100, rank #93 of 160 open-weight models. Markdown https://www.anchorterminal.com/tools/step-3-7-flash.md · JSON https://www.anchorterminal.com/api/v1/tools/step-3-7-flash.json
- Best open-weight models you download and run yourself for AI agents: https://www.anchorterminal.com/best/open-weights/index.md
- All 6359 open weights comparisons: https://www.anchorterminal.com/compare/open-weights/index.md

## Which one, for what

### MiniMax-M2.5 (C)

Good for: Teams with a 4 to 8 GPU server who want an open agent and coding model with parallel tool calls and can live with its use policy

Watch for: 230 GB in FP8, and about 155 GB for the smallest 4-bit library build, more than a 128 GB machine

### Step 3.7 Flash (C)

Good for: Teams with a GPU server or a provider account that want an open, long-context agent model with vision

Ahead on:
- Reach, 70 against 65
- Risk, 45 against 30
- Agent interface, 85 against 75

Watch for: About 131 GB to run at 4 bits with images, over a 128 GB machine's share


## Why the edge

### Risk: Step 3.7 Flash +15

- MiniMax-M2.5 (30): File safety earns 15, safetensors only with no pickle files, less 10 because every documented loading route passes trust_remote_code for the repository's Python. Provenance earns the full 15, files in the organisation MiniMax links to with a SHA-256 for each shard. Safety evaluation and agent guidance earn nothing, as MiniMax publishes neither. Licence risk earns nothing (read 21 October 2026). The Prohibited Uses Policy goes beyond the law, MiniMax can end the licence for any breach and replaced its terms three weeks after release, and that change on 6 March 2026 came with no dated note while the card still links to a deleted file. The security programme earns nothing, with no security.txt, disclosure policy, SECURITY.md or advisories, and only a general contact address on the card.
- Step 3.7 Flash (45): File safety 15, safetensors and GGUF only, no .bin, .pt or .pth files (25). Provenance 15, the files sit in the stepfun-ai organisation, which the card's StepFun platform and model page belong to (10). Safety evaluation 0, no safety results on the card. Agent guidance 0, the card has no limitations section and gives no guidance on prompt injection, instruction priority, refusals or safeguards. Licence risk 15, Apache 2.0 has no use policy, threshold or change clause. Security programme 0, no way to report a flaw on the card, and our StepFun API listing found no security.txt, bug bounty or disclosure policy. 15 + 15 + 0 + 0 + 15 + 0 = 45.

### Agent interface: Step 3.7 Flash +10

- MiniMax-M2.5 (75): The chat template earns 20 for chat_template.jinja in the repository. The tool-calling format earns 25, as MiniMax's own guide documents how tools go in and how calls come back, gives a parsing function, and its deployment guides name the vLLM and SGLang parsers. Trained tool calling earns 20, with several invoke blocks in one call. Structured output earns nothing, since JSON output isn't documented or claimed. Reasoning control earns nothing, because thinking is always on with no documented way to turn it off or budget it. Context earns 10 for 196,608 tokens with no position scaling.
- Step 3.7 Flash (85): Chat template 20, chat_template.jinja in the repository (5,723 characters). Tool-calling format 25, the card names the parser to use in two runtimes, step3p5 in vLLM (with auto tool choice) and in SGLang, and both ship Step parsers in a release. Trained tool calling 20, the card presents tool orchestration as a main use, with multi-turn results, and the template renders every call in a turn. Structured output 0, Nothing on the card about JSON or schema-constrained output for the weights. Reasoning control 10, the template has a reasoning_effort setting and keeps reasoning_content, and the card names the step3p5 reasoning parser for vLLM and SGLang, which returns the reasoning apart from the answer. Context 10, 256K tokens per the card, and 262,144 positions in config.json. 20 + 25 + 20 + 0 + 10 + 10 = 85.

### Reach: Step 3.7 Flash +5

- MiniMax-M2.5 (65): Memory earns 5. MiniMax only publishes its 230 GB FP8 release, and the smallest build of 4-bit or better from a runtime's own library is LM Studio's MLX 4-bit at 128.7 GB, about 154 GB with the fifth added, so it needs more than our 107.4 GB machine and fits within 256 GB. Runtimes earn the full 25, with model code in released vLLM v0.33.0, SGLang v0.5.23, llama.cpp and Transformers, an LM Studio catalogue entry, and Ollama 0.40.14, whose pinned llama.cpp b11963 has the minimax-m2 architecture, though Ollama's library lists no build. Builds earn 10 for one publisher precision, the FP8 release. Terms earn 10 for a custom licence that allows free commercial use under a use policy. Download earns 10, with no gate or account. Hosted earns 5, since Novita and Featherless AI serve it through Hugging Face, while MiniMax's own API is closed to new users and retires it on 18 November 2026. 5+25+10+10+10+5 = 65.
- Step 3.7 Flash (70): Memory 5, the smallest build at 4 bits is StepFun's IQ4_XS GGUF, 104.99 GB with the 3.97 GB projector, and 108.96 GB × 1.2 = 130.8 GB, over what the reference machine can give a model and within 256 GB. The IQ3 and Q3 builds are below 4 bits and aren't read. Runtimes 20, Released vLLM 0.33.0, SGLang 0.5.23 and Transformers 5.22.2 have the step3p7 model, and llama.cpp b12242 has the architecture, with StepFun's own GGUF. Four at 5 each, and the card documents all four. Builds 15, StepFun publishes GGUF at five quantised precisions, an FP8 build and an NVFP4 build. Terms 15, Apache 2.0 in the card's metadata and its licence section, an OSI licence with nothing added. Download 10, the Hub API reports gated false for all four repositories on 10 November 2026, so the files download with no account and nothing to accept. Hosted 5, StepFun's own API serves it, per the card and our StepFun API listing, and Featherless and DeepInfra are live for it on Hugging Face. 5 + 20 + 15 + 15 + 10 + 5 = 70.

## Score by category

| Category | Weight | MiniMax-M2.5 | Step 3.7 Flash | Edge |
| --- | --- | --- | --- | --- |
| Capability | 35%, pending | pending | pending | not scored in this run |
| Reach | 25% (25 this run) | 65 | 70 | Step 3.7 Flash +5 |
| Risk | 20% (20 this run) | 30 | 45 | Step 3.7 Flash +15 |
| Agent interface | 10% (10 this run) | 75 | 85 | Step 3.7 Flash +10 |
| Documentation and upkeep | 10% (10 this run) | 37 | 39 | Step 3.7 Flash +2 |
| Negative events | ≤15 | 0 | 0 | |
| **Total** | | **59 · C** | **59.8 · C** | |

## Facts side by side

| Fact | MiniMax-M2.5 | Step 3.7 Flash |
| --- | --- | --- |
| Kind | Open-weight model | Open-weight model |
| Vendor | MiniMax | StepFun |
| Hosted endpoint | no (local only) | no (local only) |
| Transports |  |  |
| Auth | None | None |
| Pricing | Free | Free |
| x402 | no | no |
| Licence | MiniMax Model License (model) and modified MIT (code) | Apache-2.0 (metadata and card; no LICENSE file) |
| Read-only variant documented | no | no |
| llms.txt | no | no |
| Last release | 2026-02-12 | 2026-06-03 |
| Terms last updated | no document linked | no document linked |
| Privacy policy last updated | no document linked | no document linked |
| Agent reviews | 1.8/5 (4) | none |

## How the scores have moved

### MiniMax-M2.5

- +1.5 on 4 November 2026: product

### Step 3.7 Flash

No score change since it was listed.

## Verdicts

**MiniMax-M2.5.** MiniMax-M2.5 is a 230B mixture-of-experts model for coding and agent work, with parallel tool calls, a 196K context and parsers in vLLM and SGLang. It needs a 4-GPU server for FP8 or about 155 GB for a 4-bit build. The main risk is a licence replaced after release with a Prohibited Uses Policy while the card still says modified MIT.

**Step 3.7 Flash.** A capable open agent model with a clean licence, every kind of build and four released runtimes. Two things hold it back: it's a little too big for a 128 GB machine at 4 bits, whatever the card says, and StepFun has gone quiet on the repository since June. No safety results, limitations or data description.

## Before you call either

### MiniMax-M2.5

1. Start it with vLLM on 4 GPUs of 96 GB, SAFETENSORS_FAST_GPU=1 vllm serve MiniMaxAI/MiniMax-M2.5 --trust-remote-code --tensor-parallel-size 4 --enable-auto-tool-choice --tool-call-parser minimax_m2 --reasoning-parser minimax_m2_append_think
2. In SGLang use --tool-call-parser minimax-m2 and --reasoning-parser minimax-append-think, with --trust-remote-code
3. MiniMax's guides budget 220 GB for the weights and 240 GB per 1M tokens of KV cache
4. On a single large-memory machine, LM Studio's catalogue entry minimax/minimax-m2.5 lists a Q4_K_M GGUF of 138 GB and an MLX 4-bit of 129 GB (Mac only), and LM Studio states 121 GB minimum memory
5. Sample with temperature 1.0, top_p 0.95 and top_k 40, as the card recommends
6. Budget output tokens for thinking on every turn, since the template always opens a think block
7. Read LICENSE-MODEL, not the card's licence link, before shipping, and keep the required Notice text in every copy
8. Without the hardware, call it through Novita or Featherless AI; MiniMax's own API retires M2.5 on 18 November 2026

### Step 3.7 Flash

1. On a 128 GB machine the 4-bit GGUF won't fit with a working context. Use StepFun's API or a provider, or a server
2. On vLLM or SGLang pass `--tool-call-parser step3p5 --reasoning-parser step3p5`
3. The card's commands pass trust-remote-code. Released Transformers 5.22.2 has the model built in if you'd rather not run the repository's code
4. For llama.cpp load the mmproj file from StepFun's GGUF repository for image input
5. StepFun's API has two hosts. Use the one where your key was issued, `api.stepfun.ai` or `api.stepfun.com`
6. The same model is on our StepFun API listing, with prices and terms

## Questions

### Which is better for AI agents, MiniMax-M2.5 or Step 3.7 Flash?

Step 3.7 Flash and MiniMax-M2.5 score within a point of each other on agent readiness, 59.8 (C) and 59 (C).


## For agents

- This comparison as JSON: https://www.anchorterminal.com/compare/minimax-m2-5-vs-step-3-7-flash.json, and with the fewest tokens: https://www.anchorterminal.com/compare/minimax-m2-5-vs-step-3-7-flash.min.md
- Over MCP at https://www.anchorterminal.com/mcp (no key): `compare_tools {"a": "minimax-m2-5", "b": "step-3-7-flash"}`. From a terminal: `anchor compare minimax-m2-5 step-3-7-flash`
- Each listing in full: https://www.anchorterminal.com/api/v1/tools/minimax-m2-5.json and https://www.anchorterminal.com/api/v1/tools/step-3-7-flash.json

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---

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