The r5ad.4xlarge pairs 16 vCPU with 128 GiB of RAM, the 8.00 GiB-per-vCPU ratio that marks a memory-optimized instance. In the name, "r" stands for RAM, "5" is the generation, "ad" marks AMD processors and local NVMe storage and "4xlarge" is the size within the r5ad family. It runs on AMD EPYC 7571 at 2.5 GHz, and AWS introduced it in March 2019. AWS has since shipped r6i, r7i, r8i and r9g; r6i.4xlarge is the direct replacement at this size, scoring 267,525 CoreMark/s against this instance's 209,219 — roughly 28% more throughput for the same vCPU count. mh.vs1.2xlarge on Rackspace Spot lines up one-for-one: 16 vCPU and 128 GiB, $1.05/hr on AWS in US East (N. Virginia), from $0.021/hr on Rackspace Spot.
Match qualityNo local disk
r5ad.4xlarge comes with 2 × 300 GB NVMe 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.