One of my Linodes is showing a CPU load increase from about 10% to about 20% after switching to KVM, with no change in the amount of network traffic it pushes. (It is a Tor relay, so the only thing it does is shovel encrypted packets around.)

The most probable explanation for this is that KVM is missing some crypto acceleration instructions. Here's one stanza of /proc/cpuinfo:
Code:
processor : 0
vendor_id : GenuineIntel
cpu family : 6
model : 62
model name : Intel(R) Xeon(R) CPU E5-2680 v2 @ 2.80GHz
stepping : 4
microcode : 0x1
cpu MHz : 2799.998
cache size : 25600 KB
physical id : 0
siblings : 1
core id : 0
cpu cores : 1
apicid : 0
initial apicid : 0
fpu : yes
fpu_exception : yes
cpuid level : 13
wp : yes
flags : fpu vme de pse tsc msr pae mce cx8 apic sep mtrr pge mca cmov pat pse36 clflush mmx fxsr sse sse2 ss syscall nx pdpe1gb rdtscp lm constant_tsc arch_perfmon rep_good nopl eagerfpu pni pclmulqdq ssse3 cx16 pcid sse4_1 sse4_2 x2apic popcnt tsc_deadline_timer aes xsave avx f16c rdrand hypervisor lahf_lm fsgsbase tsc_adjust smep erms xsaveopt
bugs :
bogomips : 5602.32
clflush size : 64
cache_alignment : 64
address sizes : 40 bits physical, 48 bits virtual
power management:
Could someone who still has a Xen-based Linode please post the equivalent information? I am particularly interested in the "flags" line.