diff --git a/aio_pika/exchange.py b/aio_pika/exchange.py
index 2e5cc3d1..68850fb0 100644
--- a/aio_pika/exchange.py
+++ b/aio_pika/exchange.py
@@ -36,7 +36,7 @@ def __init__(
         self.durable = durable
         self.internal = internal
         self.passive = passive
-        self.arguments = arguments or {}
+        self.arguments = frozenset(arguments.items()) if arguments else frozenset()
 
     def __str__(self) -> str:
         return self.name
@@ -46,9 +46,42 @@ def __repr__(self) -> str:
             f"<{self.__class__.__name__}({self}):"
             f" auto_delete={self.auto_delete},"
             f" durable={self.durable},"
-            f" arguments={self.arguments!r})>"
+            f" arguments={dict(self.arguments)!r})>"
         )
 
+    def __eq__(self, other: object) -> bool:
+        """
+        Defines equality for Exchange objects.
+        Two exchanges are considered equal if their name, type, and
+        all boolean flags, and arguments are the same.
+        """
+        if not isinstance(other, Exchange):
+            return False
+        return (
+            self.name == other.name and
+            self._type == other._type and
+            self.auto_delete == other.auto_delete and
+            self.durable == other.durable and
+            self.internal == other.internal and
+            self.passive == other.passive and
+            self.arguments == other.arguments
+        )
+
+    def __hash__(self) -> int:
+        """
+        Computes a hash for the Exchange object.
+        The hash is based on the same attributes used in __eq__.
+        """
+        return hash((
+            self.name,
+            self._type,
+            self.auto_delete,
+            self.durable,
+            self.internal,
+            self.passive,
+            self.arguments  # This is a frozenset, which is hashable
+        ))
+
     async def declare(
         self, timeout: TimeoutType = None,
     ) -> aiormq.spec.Exchange.DeclareOk:
@@ -60,7 +93,7 @@ async def declare(
             auto_delete=self.auto_delete,
             internal=self.internal,
             passive=self.passive,
-            arguments=self.arguments,
+            arguments=dict(self.arguments),
             timeout=timeout,
         )
 
diff --git a/tests/test_amqp.py b/tests/test_amqp.py
index a9a5a6ff..e114301d 100644
--- a/tests/test_amqp.py
+++ b/tests/test_amqp.py
@@ -1636,6 +1636,16 @@ async def test_get_exchange(self, connection, declare_exchange):
 
         assert exchange.name == exchange_passive.name
 
+    async def test_get_exchange_memory_leak(self, connection, declare_exchange):
+        channel = await self.create_channel(connection)
+        _ = await declare_exchange(
+            "passive", channel=channel,
+        )
+        exchange_1 = await channel.get_exchange("passive")
+        exchange_2 = await channel.get_exchange("passive")
+
+        assert exchange_1 == exchange_2
+
     async def test_get_queue(self, connection, declare_queue):
         channel = await self.create_channel(connection)
         name = get_random_name("passive", "queue")