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I wonder what the cost is compared to terminating SSL at Clodfront? For my web tier architectures, I use Cloudfront to reverse proxy both dynamic content (from the api) and static content (from s3). SSL is terminated only at CloudFront.

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I don't think you can use Cloudfront to serve that kind of traffic. Cloudfront costs are described here: https://aws.amazon.com/cloudfront/pricing/

So for 10k HTTPS requests, the price is 0.01 $. If you serve 5 billion per day, that is 5000$ a day. With such high traffic I believe it is needed to handle it using performant webservers (Go, Erlang?) to keep costs reasonable, and probably terminating SSL at load balancer is the way to go

I am not sure that math is right. Using the aws cost calculator, its only about 1100/mo for 5B https requests. However, I think if you consider data transfer its still probably in the range of a several thousand a day. yikes.

Not sure what calculator you're using, but from the pricing page [1] it's pretty clear that 5B HTTPS requests cost at least (depending on the geographic origin) $5000. And that's per day and without data transfer.

[1]: https://aws.amazon.com/cloudfront/pricing/

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