diff --git a/lbry/wallet/server/mempool.py b/lbry/wallet/server/mempool.py
index 03d3cd03c..bffd4e8ee 100644
--- a/lbry/wallet/server/mempool.py
+++ b/lbry/wallet/server/mempool.py
@@ -13,6 +13,7 @@ import time
 from abc import ABC, abstractmethod
 from collections import defaultdict
 from concurrent.futures.thread import ThreadPoolExecutor
+from prometheus_client import Histogram
 
 import attr
 
@@ -79,6 +80,12 @@ class MemPoolAPI(ABC):
         daemon's height at the time the mempool was obtained."""
 
 
+NAMESPACE = "wallet_server"
+HISTOGRAM_BUCKETS = (
+    .005, .01, .025, .05, .075, .1, .25, .5, .75, 1.0, 2.5, 5.0, 7.5, 10.0, 15.0, 20.0, 30.0, 60.0, float('inf')
+)
+
+
 class MemPool:
     """Representation of the daemon's mempool.
 
@@ -107,6 +114,9 @@ class MemPool:
         self.lock = asyncio.Lock()
         self.wakeup = asyncio.Event()
         self.executor = ThreadPoolExecutor(max(os.cpu_count() - 1, 1))
+        self.mempool_process_time_metric = Histogram(
+            "processed_mempool", "Time to process mempool and notify touched addresses", namespace=NAMESPACE, buckets=HISTOGRAM_BUCKETS
+        )
 
     async def _logging(self, synchronized_event):
         """Print regular logs of mempool stats."""
@@ -207,6 +217,7 @@ class MemPool:
     async def _refresh_hashes(self, synchronized_event):
         """Refresh our view of the daemon's mempool."""
         while True:
+            start = time.perf_counter()
             height = self.api.cached_height()
             hex_hashes = await self.api.mempool_hashes()
             if height != await self.api.height():
@@ -217,13 +228,16 @@ class MemPool:
             synchronized_event.set()
             synchronized_event.clear()
             await self.api.on_mempool(touched, height)
+            timed_out = False
             try:
                 # we wait up to `refresh_secs` but go early if a broadcast happens (which triggers wakeup event)
                 await asyncio.wait_for(self.wakeup.wait(), timeout=self.refresh_secs)
             except asyncio.TimeoutError:
-                pass
+                timed_out = True
             finally:
                 self.wakeup.clear()
+            duration = time.perf_counter() - start - (0 if not timed_out else self.refresh_secs)
+            self.mempool_process_time_metric.observe(duration)
 
     async def _process_mempool(self, all_hashes):
         # Re-sync with the new set of hashes