Wouldn't it be simpler to have the smallest possible instance run an NFS server? This would also have an additional bonus of scalability. Edit: or use AWS EFS
EFS is far more expensive than EBS. Price it out; you'll see.
And since it's shared, you don't need to replicate data across multiple nodes... so if 10 compute nodes needs access to the data set, they can all just read it from the same EFS filesystem, no need to download it 10 times to each compute node.
So EFS can still be very cost effective compared to EBS.