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Switch AWS EBS Volumes from gp2 to gp3 Online and Save 20% on Storage

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AWS gp3 EBS volumes cost $0.08 per GB-month compared to $0.10 for gp2 in us-east-1, a roughly 20% reduction, while also including 3,000 IOPS and 125 MB/s throughput as baseline at no extra charge. Unlike gp2, which ties IOPS directly to volume size, gp3 decouples performance from storage capacity, eliminating the need to over-provision disk space just to gain more IOPS. Migration from gp2 to gp3 can be performed live using a single AWS CLI modify-volume command, with no downtime, no snapshot, and no need to detach the volume. One key caveat applies to large gp2 volumes — those above roughly 1 TB — which may already deliver more than 3,000 IOPS due to gp2's scaling model, so workload needs should be verified before migrating. AWS restricts volume modifications to once every six hours per volume, so migrations across multiple volumes should be planned and paced accordingly.

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