Nowadays EBS is perhaps the most flaky offering of the whole AWS suite. We typically see 5-10 megabytes per second (!) sustained transfer rates, down from 80+MBps when we started using EBS a few years ago. The TPS is a bit better, hovering around 400-1000 transactions per second on small blocks.
Given such uneven performance characteristics, I don't advise putting a database on top of EBS at all: it's going to cost some money and provide a fractional performance of a dedicated solution. Raid 1/10 won't improve things: the performance will be faster but still won't be tolerable for a DB application.
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