The closest alternative to Mercury 2 is Qwen3.5-9B — comparable intelligence (21.4 vs 21.4); for a cheaper option, MiniMax M3 (batch) runs $0.150/M vs $0.250/M; and the best open-weight substitute is Kimi K3.
Qwen3.5-9B is the closest alternative to Mercury 2, with an Intelligence Index of 21.4 (Mercury 2 scores 21.4) at $0.100 per million input tokens.
Yes — MiniMax M3 (batch) costs $0.150 per million input tokens versus $0.250 for Mercury 2, while staying within ~8 points of its Intelligence Index.
Kimi K3 is the strongest open-weight alternative to Mercury 2 — downloadable from Hugging Face and self-hostable, scoring 57.1 on intelligence.