The r3.xlarge is a memory-optimized AWS EC2 instance: 4 vCPU and 30.5 GiB of memory, 7.63 GiB per vCPU. In the name, "r" stands for RAM, "3" is the generation and "xlarge" is the size within the r3 family. It runs on Intel Xeon E5-2670 v2 (Ivy Bridge) at 2.5 GHz, and AWS introduced it in April 2014. AWS has since shipped r4, r5, r6i and r7i; r4.xlarge is the direct replacement at this size. Rackspace Spot's mh.vs1.large is a like-for-like substitute at 4 vCPU and 32 GiB, about 94% below the US East (N. Virginia) on-demand rate.
Match qualityNo local disk
r3.xlarge comes with 1 × 80 GB SSD attached to the machine. Rackspace Spot nodes use network storage only, so that disk does not come with it.
If you were using the local disk as fast scratch space — temporary files, a local cache, an index — you will need a persistent volume or object storage instead, and both are slower to read. If it was just extra space you never depended on, nothing changes.