diff --git a/waku/v2/node/wakunode2.go b/waku/v2/node/wakunode2.go
index 5032c823..4eefa7e2 100644
--- a/waku/v2/node/wakunode2.go
+++ b/waku/v2/node/wakunode2.go
@@ -272,7 +272,7 @@ func New(opts ...WakuNodeOption) (*WakuNode, error) {
 		}
 	}
 
-	w.peerExchange, err = peer_exchange.NewWakuPeerExchange(w.DiscV5(), w.opts.clusterID, w.peerConnector, w.peermanager, w.opts.prometheusReg, w.log)
+	w.peerExchange, err = peer_exchange.NewWakuPeerExchange(w.DiscV5(), w.opts.clusterID, w.peerConnector, w.peermanager, w.opts.prometheusReg, w.log, w.opts.peerExchangeOptions...)
 	if err != nil {
 		return nil, err
 	}
diff --git a/waku/v2/node/wakunode2_test.go b/waku/v2/node/wakunode2_test.go
index d4ca453c..144ce681 100644
--- a/waku/v2/node/wakunode2_test.go
+++ b/waku/v2/node/wakunode2_test.go
@@ -13,6 +13,7 @@ import (
 	"time"
 
 	wenr "github.com/waku-org/go-waku/waku/v2/protocol/enr"
+	"github.com/waku-org/go-waku/waku/v2/protocol/peer_exchange"
 
 	"github.com/ethereum/go-ethereum/crypto"
 	"github.com/ethereum/go-ethereum/p2p/enode"
@@ -540,3 +541,62 @@ func TestStaticShardingLimits(t *testing.T) {
 	tests.WaitForMsg(t, 2*time.Second, &wg, s2.Ch)
 
 }
+
+func TestPeerExchangeRatelimit(t *testing.T) {
+	log := utils.Logger()
+
+	if os.Getenv("RUN_FLAKY_TESTS") != "true" {
+
+		log.Info("Skipping", zap.String("test", t.Name()),
+			zap.String("reason", "RUN_FLAKY_TESTS environment variable is not set to true"))
+		t.SkipNow()
+	}
+
+	ctx, cancel := context.WithTimeout(context.Background(), 300*time.Second)
+	defer cancel()
+
+	testClusterID := uint16(21)
+
+	// Node1 with Relay
+	hostAddr1, err := net.ResolveTCPAddr("tcp", "0.0.0.0:0")
+	require.NoError(t, err)
+	wakuNode1, err := New(
+		WithHostAddress(hostAddr1),
+		WithWakuRelay(),
+		WithClusterID(testClusterID),
+		WithPeerExchange(peer_exchange.WithRateLimiter(1, 1)),
+	)
+	require.NoError(t, err)
+	err = wakuNode1.Start(ctx)
+	require.NoError(t, err)
+	defer wakuNode1.Stop()
+
+	// Node2 with Relay
+	hostAddr2, err := net.ResolveTCPAddr("tcp", "0.0.0.0:0")
+	require.NoError(t, err)
+	wakuNode2, err := New(
+		WithHostAddress(hostAddr2),
+		WithWakuRelay(),
+		WithClusterID(testClusterID),
+		WithPeerExchange(peer_exchange.WithRateLimiter(1, 1)),
+	)
+	require.NoError(t, err)
+	err = wakuNode2.Start(ctx)
+	require.NoError(t, err)
+	defer wakuNode2.Stop()
+
+	err = wakuNode2.DialPeer(ctx, wakuNode1.ListenAddresses()[0].String())
+	require.NoError(t, err)
+
+	//time.Sleep(1 * time.Second)
+
+	err = wakuNode1.PeerExchange().Request(ctx, 1)
+	require.NoError(t, err)
+
+	err = wakuNode1.PeerExchange().Request(ctx, 1)
+	require.Error(t, err)
+
+	time.Sleep(1 * time.Second)
+	err = wakuNode1.PeerExchange().Request(ctx, 1)
+	require.NoError(t, err)
+}
diff --git a/waku/v2/node/wakuoptions.go b/waku/v2/node/wakuoptions.go
index 82d96461..2e34ace7 100644
--- a/waku/v2/node/wakuoptions.go
+++ b/waku/v2/node/wakuoptions.go
@@ -31,6 +31,7 @@ import (
 	"github.com/waku-org/go-waku/waku/v2/protocol/legacy_store"
 	"github.com/waku-org/go-waku/waku/v2/protocol/lightpush"
 	"github.com/waku-org/go-waku/waku/v2/protocol/pb"
+	"github.com/waku-org/go-waku/waku/v2/protocol/peer_exchange"
 	"github.com/waku-org/go-waku/waku/v2/rendezvous"
 	"github.com/waku-org/go-waku/waku/v2/timesource"
 	"github.com/waku-org/go-waku/waku/v2/utils"
@@ -102,7 +103,8 @@ type WakuNodeParameters struct {
 	discV5bootnodes  []*enode.Node
 	discV5autoUpdate bool
 
-	enablePeerExchange bool
+	enablePeerExchange  bool
+	peerExchangeOptions []peer_exchange.Option
 
 	enableRLN                    bool
 	rlnRelayMemIndex             *uint
@@ -411,9 +413,10 @@ func WithDiscoveryV5(udpPort uint, bootnodes []*enode.Node, autoUpdate bool) Wak
 }
 
 // WithPeerExchange is a WakuOption used to enable Peer Exchange
-func WithPeerExchange() WakuNodeOption {
+func WithPeerExchange(options ...peer_exchange.Option) WakuNodeOption {
 	return func(params *WakuNodeParameters) error {
 		params.enablePeerExchange = true
+		params.peerExchangeOptions = options
 		return nil
 	}
 }
diff --git a/waku/v2/protocol/peer_exchange/protocol.go b/waku/v2/protocol/peer_exchange/protocol.go
index c02cdca6..5f103e12 100644
--- a/waku/v2/protocol/peer_exchange/protocol.go
+++ b/waku/v2/protocol/peer_exchange/protocol.go
@@ -100,6 +100,9 @@ func (wakuPX *WakuPeerExchange) onRequest() func(network.Stream) {
 			wakuPX.metrics.RecordError(rateLimitFailure)
 			wakuPX.log.Error("exceeds the rate limit")
 			// TODO: peer exchange protocol should contain an err field
+			if err := stream.Reset(); err != nil {
+				wakuPX.log.Error("resetting connection", zap.Error(err))
+			}
 			return
 		}