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@cebert have you checked out Scanner.dev? It uses sparse skip-list indexing and serverless components to let you query a terabyte of logs in seconds and pricing is around the same as Cloudwatch

What are the 4 isolate environments in your case? Dev, test, accp, and prod? If so, you almost slash the cost by 50% by only monitoring accp and prod. Can be accomplished by introducing a toggle in your lambda’s.

Are you sure you need to monitor the PR lambdas? If they're going to make it to one of the 3 environments before prod.