direct, exact
approximate, closest (esp. AmE), nearest (esp. BrE), rough
the nearest equivalent we have to a carnival

contemporary, modern, modern-day
the modern equivalent of the Roman baths

moral
The campaign says that hunters are the moral equivalent of murderers.

aural, visual
These drawings are the visual equivalents of stage whispers.

verbal
architectural, cinematic, journalistic, literary, musical, sporting (esp. BrE), etc.
digital, electronic, online
the online equivalent of the telephone

female, male
American, British, etc.
cash (business)
The company has $43.8 million in cash and cash equivalents.

be, be considered, represent
become
have
a word which has no direct equivalent in English

produce, provide
earn, receive
each sponsor received the equivalent of £1millon worth of advertising.

pay (sb)
He's only paid the equivalent of $200.

equivalent for
There is no exact male equivalent for witches.

equivalent in
It is the approximate equivalent in height to the Matterhorn.

equivalent of
This qualification is the equivalent of a degree.

equivalent to
This concert hall is the American equivalent to London's Albert Hall.

be, seem
become

exactly, precisely
almost, essentially, practically
approximately, broadly, more or less, roughly
the price we would pay elsewhere for a broadly equivalent house

logically, mathematically
morally

in, to
These first computers were equivalent in power to a modern calculator.

Equivalent is used with these nouns:
amount, proportion, size