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No there isn't. Just "max idle instances". So you'll get a huge bill if you get slashdotted.

You won't, because you specify a maximum daily spend in the budget settings. So when you get slashdotted the scheduler will spin up X hundred instances, your budget will run out in 1/2 hour, and your site will be down for anything up to the next 23 1/2 hours.

Yes, there is.

There's a setting for the latency threshold causing a new instance to get spun up.