gp2 vs gp3 Cost Comparison – EBS Volumes

Amazon Web Services (AWS) has launched the gp3 type EBS Volume and they are saying that it is 20% cheaper compared to gp2 types. Since the gp3 has a different pricing model compared to the gp2, I decided to go down this rabbit hole to see if the statement that gp3 is 20% cheaper than gp2 is always true.

My goal here is to confidently know that moving from a gp2 to gp3 will give us significant savings without the degraded performance.

TL;DR – Most of the time gp3 is cheaper than gp2. There are scenarios where the gp3 is more expensive than the gp2.

gp2 and gp3 EBS Pricing Models

Based on the Amazon EBS Pricing page this is the pricing of gp2 and gp3 Volumes.

gp2 Pricing

gp2 Volume Pricing$0.10 per GB-month of provisioned storage

gp3 Pricing

gp3 Storage Pricing$0.08/GB-month
gp3 IOPS Pricing3,000 IOPS free and
$0.005/provisioned IOPS-month over 3,000
gp3 Throughput Pricing125 MB/s free and
$0.04/provisioned MB/s-month over 125

Note: Pricing below is based on N. Virginia Region. Different regions have different pricing but the concepts and percent discount will be the same.

The 20% Cheaper Statement

If we only look at the pricing of the gp3 in terms of Storage Size ($0.08/GB-month) compared to the pricing of gp2 ($0.10/GB-month) we can definitely say that gp3 is 20% cheaper than gp2 Volumes.

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