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In the Azure Pricing Calculator, under Managed OS Disks, there is a switch you can flip to "Add Snapshot", which lets you choose the size of the snapshot. This doesn't make sense to me, because I would think the snapshot's size would be dependent Disk Size that you choose.

Why can you choose the size of the snapshot, and are there benefits/drawbacks to choosing a larger/smaller size than your Disk Size?

Azure Snapshot Billing

NoizyCr1cket
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The other answer is not entirely correct here, Azure Snapshots do not function in the same way as AWS ones.

Managed disk snapshots are billed on the amount of disk space used, not the size of the disks. For example, when you create a VM you pick a size of managed dis, lets say 128GB and you are billed for all 128Gb regardless of how much you are using. However, snapshots are charged on how much you use of that disk, so if you are only using 50GB of the space on that disk your snapshot will only cost you 50GB of storage.

Note that currently Azure Managed Disk snapshots are not incremental. So if you take 3 snapshots of that disk you will be charged 3x50GB of storage.

Sam Cogan
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    Note: Azure now supports incremental snapshots https://azure.microsoft.com/en-us/blog/introducing-cost-effective-increment-snapshots-of-azure-managed-disks-in-preview/ – Simon Oct 06 '20 at 16:55