diff --git a/src/test/app/TestHostFunctions.h b/src/test/app/TestHostFunctions.h
index a90b40cad1..61d098e45c 100644
--- a/src/test/app/TestHostFunctions.h
+++ b/src/test/app/TestHostFunctions.h
@@ -16,6 +16,7 @@
 #include <algorithm>
 #include <cstddef>
 #include <cstdint>
+#include <iostream>
 #include <iterator>
 #include <string>
 #include <string_view>
diff --git a/src/test/app/WasmPerf_test.cpp b/src/test/app/WasmPerf_test.cpp
new file mode 100644
index 0000000000..f51ef76f01
--- /dev/null
+++ b/src/test/app/WasmPerf_test.cpp
@@ -0,0 +1,97 @@
+#include <test/app/wasm_fixtures/fixtures.h>
+#include <test/jtx/Env.h>
+
+#include <xrpl/basics/Expected.h>
+#include <xrpl/beast/unit_test/suite.h>
+#include <xrpl/tx/wasm/HostFuncWrapper.h>  // IWYU pragma: keep
+#include <xrpl/tx/wasm/ParamsHelper.h>
+#include <xrpl/tx/wasm/WasmVM.h>
+
+#include <boost/algorithm/hex.hpp>
+
+#include <cstddef>
+#include <cstdint>
+#include <cstring>
+#include <string>
+#include <vector>
+#ifdef _DEBUG
+// #define DEBUG_OUTPUT 1
+#endif
+
+#include <test/app/TestHostFunctions.h>
+
+namespace xrpl::test {
+
+namespace {
+
+std::vector<uint8_t>
+hexToBytes(std::string const& hex)
+{
+    auto const ws = boost::algorithm::unhex(hex);
+    return Bytes(ws.begin(), ws.end());
+}
+}  // namespace
+
+struct WasmPerf_test : public beast::unit_test::Suite
+{
+    template <typename Functor>
+    void
+    perf(TestHostFunctions& hfs, size_t runs, Functor&& f)
+    {
+        for (auto i = size_t{}; i < runs; ++i)
+        {
+            auto result = f();
+            BEAST_EXPECT(result);
+        }
+        BEAST_EXPECT(hfs.execTimeEvent->count == runs);
+    }
+
+    void
+    perfEscrowFinish()
+    {
+        testcase("perf escrow finish");
+        using namespace test::jtx;
+
+        static constexpr auto kRuns = 1000;
+
+        auto const wasm = hexToBytes(kAllHostFunctionsWasmHex);
+
+        Env env{*this};
+        auto hfns = TestHostFunctions{env, 0};
+        hfns.execTimeEvent->printOnDestruction = true;
+
+        perf(hfns, kRuns, [&] {
+            return runEscrowWasm(wasm, hfns, 1'000'000, escrowFunctionName, {}).has_value();
+        });
+    }
+
+    void
+    perfEscrowCreate()
+    {
+        testcase("perf escrow create");
+        using namespace test::jtx;
+
+        static constexpr auto kRuns = 1000;
+
+        auto const wasm = hexToBytes(kAllHostFunctionsWasmHex);
+
+        Env env{*this};
+        auto hfns = TestHostFunctions{env, 0};
+        hfns.execTimeEvent->printOnDestruction = true;
+
+        perf(hfns, kRuns, [&] { return !preflightEscrowWasm(wasm, hfns, escrowFunctionName); });
+    }
+
+    void
+    run() override
+    {
+        using namespace test::jtx;
+
+        perfEscrowFinish();
+        perfEscrowCreate();
+    }
+};
+
+BEAST_DEFINE_TESTSUITE_MANUAL(WasmPerf, app, xrpl);
+
+}  // namespace xrpl::test
diff --git a/src/test/app/Wasm_test.cpp b/src/test/app/Wasm_test.cpp
index 24e5317f3f..5999fa634b 100644
--- a/src/test/app/Wasm_test.cpp
+++ b/src/test/app/Wasm_test.cpp
@@ -48,12 +48,14 @@ add(void* env, wasm_val_vec_t const* params, wasm_val_vec_t* results)
     return nullptr;
 }
 
+namespace {
 std::vector<uint8_t>
 hexToBytes(std::string const& hex)
 {
     auto const ws = boost::algorithm::unhex(hex);
     return Bytes(ws.begin(), ws.end());
 }
+}  // namespace
 
 template <class IT, class T>
 unsigned