Balder wins.
His TK is strong enough to hurl large sections of skyscrapers and activate his satellite laser from space. He can match Dante's speed and survive mortal wounds (he took a bullet to the head and lived). If Dante gets too rough, he can just activate barriers (even if time were to stop). Balder can easily dispose of huge monsters and has strength enough for him to toss a satellite with no problem.
He isn't one of Bayonetta's last bosses for nothing.