Cloud vs On Premise Database

I was wondering if there is any benefit/trade off in terms of performance of using an on-premise database vs a cloud database. Only talking in terms of raw app sync performance, the trade off of redundancy, less initial cost, etc of cloud vs your own server are excluded from this question.
Of note this would be a MySQL AWS RDS instance vs a SQL on premise database. We currently hold both of these servers for use outside of Appsheet already.

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