Mercury 2

inception/mercury-2

A chat model with a 128K-token context window, at $0.2625 per million input tokens and $0.7875 per million output tokens.

Details

Maker: inception
Kind: Chat
Context window: 128,000 tokens
Max output: 128,000 tokens
Input: $0.2625 per million tokens
Cached input: $0.02625 per million tokens, 90% off
Cache write: Same as input
Output: $0.7875 per million tokens
Capabilities: Reasoning, tool use
Takes: Text
Returns: Text
Zero data retention: Not on every provider
No training on requests: Yes, on every provider
Released: 2026-02-24
Newer model: inception/mercury-2.5Released later by the same maker, costs no more, and lists the same capabilities. Compare the two

Description

A diffusion-based reasoning LLM that generates text via parallel refinement (not token-by-token), delivering real-time latency with ~1k tokens/sec plus 128K context and built-in tool/JSON support.

Call it

curl

curl https://phantom.codes/v1/chat/completions \
  -H "Authorization: Bearer $PHANTOM_KEY" \
  -H "Content-Type: application/json" \
  -d '{
    "model": "inception/mercury-2",
    "messages": [
      {"role": "user", "content": "Hello"}
    ]
  }'

Set PHANTOM_KEY to your key. Any OpenAI client works with the base URL https://phantom.codes/v1.

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