The Papillon is one of the cheapest breeds to run on this site: $80–150 a month against the Malamute's $150–300, and $1,100–2,300 in the first year against $2,000–4,000. Cost level 2/5 against 4/5.
Every component favours it. Food is trivial. Grooming is a comb and no appointments, unlike almost every other long-coated toy breed. Weight-based veterinary pricing — prevention, anaesthesia, medication — is at the bottom of the scale. There is no professional de-shedding, no giant crate, no ramp, no reinforced fencing.
The two real costs are dental care and time. Dentals under general anaesthetic every one to three years across a 14 to 16 year life add up, and they are the intervention that most affects whether a small dog ages comfortably. Insurance premiums also climb steeply in the last third of a long life, which is the flip side of the breed's excellent lifespan.
Against that, the Malamute's costs are large and structural: food volume, weight-scaled veterinary charges, secure fencing, and equipment sturdy enough for a dog that pulls. Its grooming is free labour but consumes real hours.
The lifespan comparison deserves a final word. Fourteen to sixteen years against ten to fourteen is a two to four year difference, and for a dog bought in your thirties that is a genuinely different commitment. A Papillon is a long relationship in a small, cheap, portable, highly trainable package. If the shortlist genuinely contains both breeds, the honest question is whether you want a dog to work with or a dog to walk with — because on almost every other axis the small one wins.