The closest alternative to GPT-5.1-Codex-Mini is Ring-2.6-1T — comparable intelligence (38.5 vs 38.6); for a cheaper option, MiMo-V2.5 runs $0.140/M vs $0.250/M; for more speed, gpt-oss-120b (free) hits 554 t/s; and the best open-weight substitute is MiniMax M3.
Ring-2.6-1T is the closest alternative to GPT-5.1-Codex-Mini, with an Intelligence Index of 38.5 (GPT-5.1-Codex-Mini scores 38.6) at $0.075 per million input tokens.
Yes — MiMo-V2.5 costs $0.140 per million input tokens versus $0.250 for GPT-5.1-Codex-Mini, while staying within ~8 points of its Intelligence Index.
MiniMax M3 is the strongest open-weight alternative to GPT-5.1-Codex-Mini — downloadable from Hugging Face and self-hostable, scoring 54.7 on intelligence.