Pace and speed are equivalent, in the sense that they both are a measure of how fast you are going. However, they are actually the inverse of each other, in terms of units of measurement. Pace usually refers to minutes per mile, while speed is measured as miles per hour. So, for example, if you are going at a pace of 6 minutes per mile, your speed is 10 miles per hour. As you slow down, your speed approaches zero while your pace approaches inifinity (one reason that GPS watches have trouble displaying pace at slow speeds).
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