Sorry but your the MORON here, take a good look in the mirror.
You think Jiraiya couldn't defeat 3 pains, okay listen carefully i say this only once:
Jiraiya went against Pain, Jiraiya had no intel on Pain and his abilities, he had only heard about the Rinnegan.
Now he didn't know about the 6 paths of pain, and he didn't know their abilities, he didn't know of their shared link, he didn't know anything about pein, except who he really was.
Now even without any intel, he managed to enter Sage Mode, by only summoning Gamaken, and using a few techniques. Then he took down 3 peins with a single Genjutsu, and he stood his ground. Also he killed one pein twice.
Now tell me again, do you still think he would have lost to the 3 paths?
MORON
(For the real question, Orochimaru and Jiraiya are incredible powerful both of them, but in my opinion Jiraiya is a little better than Orochimaru, and i don't really care what you say, i just wanted to take care of this moron)
Clearly this moron who quoted my post, dont know that he could not summon the 4th hokage since he had used the Dead demon consuming seal, also if Hiruzen could take on the 1st and 2nd i beliee jiraiya could, also since they weren't at their fullest.
So what if Jiraiya didn't have intel on Pein? The same could be said about Pein, he didn't have intel on Jiraiya. Pein had no intel on sage mode, which is Jiraiya's strongest jutsu and trump card and had no intel of frog song, this crap about Jiraiya not having intel on Pein is a ridiculous excuse.
And Jiraiya admitted himself that he would definitely lose if he carried on fighting the three Peins and said he would have to retreat until Pa mentioned frog song, and even that onlyt worked because Pein INTENTIONALLY fell for Jiraiya's trap so that he could catch him off guard with the other Peins that he had already summoned and hidden. Even pa confirmed that right after Ma pointed out that the other peins had been ressurected.
The lack of intel excuse is lame and has no substance, Jiraiya trained Nagato for like three years, he knew a lot about the rinnegan, just like Nagato knew a lot about base Jiraiya, but Nagto knew nothing about sage mode and sage jutsu and knew nothing about frog song, so don't bring up that bull about Jiraiya not having intel on Pein, Jiraiya was outclassed, plain and simple. The only reason he killed the three peins was because nagato wanted him to stop RUNNING AWAY so that he can land a hit on him.
Activating sage mode by only summoning Gamaken? So what? Pein only summoned the Animal Path at the time so I have no idea what point you were trying to prove there. And you act like Jiraiya could have summoned more toads if he wanted to, NEWS FLASH, he COULDN'T! You need to have a lot of chakra in your system in order to enter sage mode otherwise the sage chakra will overwhelm you and you will turn into a frog, pa made this clear when he was training Naruto, Jiraiya could only summon one boss level toad if he wanted to still have enough chakra to enter sage, he didn't have a choice, stop acting like Jiraiya did it because he was superior or something.
Going back to the topic, I don't really have a clear idea of Oro's true strength, throughout the series he was either sick or weakened whether it was because of the third sealing his arms or the body he was inhibitting starting to reject him, and against the third he was playing around for most of the battle and only got serious at the end when he was about to be sealed, so to make a clear judgement on his true strength is very difficult.
Sure it can be argued that a serious Orochimaru using the Hokage edo's should definitely defeat Jiraiya but Oro's edo was imperfect, for one, the Hokage were not ressurect to their full strength like Kabuto's edo tensei and Oro's seemed stuck in one place when he had summoned the edo's, he didn't even move once from that spot after summoning them and his hands were clasped together in concentration. Basically, it seems like you are for the most part immobile when you use edo tensei, even Kabuto hasn't moved from his spot and even went into hiding in order to use that jutsu, so that could be a weak point that Jiraiya could exploit.
But either then that base Orochimaru seems to be miles ahead of Jiraiya still, Oro has many jutsu and also has many snake summons and summoning variationsto counter Jiraiya's summoning and variations so that would put them at a stale mate. But Oro dedicated his life to learning all the jutsu in the world so he would probably have more in his arsenal of jutsus and or is a semi immortal which makes killing him near impossible, Jiraiya would have to seal him and that will not be easy at all, capturing is much harder then killing.
Like I said, a serious base orochimaru with edo's is too much for Jiraiya, but I have never once seen Orochimaru take Jiraiya or anyone seriously for that matter, so he probably would mock, play around, and waist time, something which would give Jiraiya an openning.
Sage Mode vs Eight Branches Mode?
I have no idea what the eight branches mode can do, Oro once again became too arrogant for his own good and allowed Itachi to stab him, not knowing that he was getting stabbed by the sword of totsuka until it was too late, so we can't really compare the two modes, we will have to wait until we see Kabutomaru use it in battle I guess, the only thing we know so far is that Oro seemingly can't die in this form since he allowed a sword to pierce his chest and laughed, and we know if any of the small snakes that make up the eight headed snake survives, then oro can recreate himself, but nothing more has been shown.
Another issue we have are the plot holes in the story, Oro feared Itachi and admitted that even if both he and sasuke attacked him, they would lose, but Itachi said that he could only draw with Jiraiya and even if he had back up, the result would be the same (which doesn't make sense at all).
Now we have Itachi basically admit slight inferiority to Jiraiya, and Oro admitting inferiority to the guy that admitted inferiority to Jiraiya, but then Oro was confident enough to attack both Jiraiya and Tsunade even without his arms, sure Jiraiya was drugged, but Oro had already decided to fight them before he knew Jiraiya was drugged, he only found out about that when they were beginning the battle when Jiraiya tried to summon.
So wtf? How can Oro consider Jiraiya his inferior and Itachi his superior when Itachi said that Jiraiya would defeat him and Kisame but we saw Itachi beaty Oro when he was thirteen? No logic in that really. The words of the people in the Narutoverse are unreliable.
Ok to end the long rant, I think Oro wins with mid/high difficulty.