❯ All Top Five in OpenRouter’s Weekly Calls Are Chinese Models; Xiaomi MiMo-V2.5 Takes Top Spot with 10.5 Trillion Tokens

SWEEPAccording to OpenRouter’s official leaderboard page, the top five in the model-aggregation platform’s latest weekly call-volume ranking are all models developed in-house by Chinese companies. Xiaomi MiMo-V2.5 topped the list with 10.5 trillion tokens in a single week, up 12% week over week, and was the only model globally to break the 10-trillion mark that week; it also took first on both the weekly and monthly charts. Over two months, that figure climbed from 1.46 trillion to 10.46 trillion.

SURGEThe public OpenRouter leaderboard data gets more interesting further down the list. The previous week, the top five still included a non-Chinese model. DeepSeek V4-Flash ranked second with 6.37 trillion tokens, up 18% week over week; Tencent Hunyuan Hy3 was third with 3.94 trillion, a week-over-week gain of more than 999% — it was officially open-sourced only on July 6, meaning it went from zero to the top three in three weeks. Zhipu GLM-5.2 came in fourth, the only name in the top five to decline week over week; DeepSeek V4-Pro was fifth with 3.17 trillion, up 17%, forming a high/low pairing with Flash in second. To be clear on the methodology: OpenRouter counts only the call volume relayed through its platform, reflecting the choices of overseas independent developers — not the total global usage of these models.

DISTRIBUTIONWhat this leaderboard really shows is that the distribution channel has changed. Overseas developers no longer source models only from big-tech consoles; aggregation platforms have returned the choice to price and open-source licensing, and that is precisely the opening Chinese models came through. Pricing teams at overseas model vendors will feel the pressure first: when free weights plus low-cost APIs can rack up nearly four trillion calls in three weeks, the price band sustained by closed APIs can no longer hold.

▪ SIGNALOpen source isn’t a margin concession — it’s moving the distribution channel from someone else’s console into your own hands.