diff --git a/benchmark/misc/set-immediate-breadth-args.js b/benchmark/misc/set-immediate-breadth-args.js
new file mode 100644
index 00000000000000..6a904e2675d110
--- /dev/null
+++ b/benchmark/misc/set-immediate-breadth-args.js
@@ -0,0 +1,28 @@
+'use strict';
+
+const common = require('../common.js');
+const bench = common.createBenchmark(main, {
+  millions: [5]
+});
+
+function main(conf) {
+  const N = +conf.millions * 1e6;
+
+  process.on('exit', function() {
+    bench.end(N / 1e6);
+  });
+
+  function cb1(arg1) {}
+  function cb2(arg1, arg2) {}
+  function cb3(arg1, arg2, arg3) {}
+
+  bench.start();
+  for (let i = 0; i < N; i++) {
+    if (i % 3 === 0)
+      setImmediate(cb3, 512, true, null);
+    else if (i % 2 === 0)
+      setImmediate(cb2, false, 5.1);
+    else
+      setImmediate(cb1, 0);
+  }
+}
diff --git a/benchmark/misc/set-immediate-breadth.js b/benchmark/misc/set-immediate-breadth.js
new file mode 100644
index 00000000000000..3d8b038342634d
--- /dev/null
+++ b/benchmark/misc/set-immediate-breadth.js
@@ -0,0 +1,21 @@
+'use strict';
+
+const common = require('../common.js');
+const bench = common.createBenchmark(main, {
+  millions: [10]
+});
+
+function main(conf) {
+  const N = +conf.millions * 1e6;
+
+  process.on('exit', function() {
+    bench.end(N / 1e6);
+  });
+
+  function cb() {}
+
+  bench.start();
+  for (let i = 0; i < N; i++) {
+    setImmediate(cb);
+  }
+}
diff --git a/benchmark/misc/set-immediate-depth-args.js b/benchmark/misc/set-immediate-depth-args.js
new file mode 100644
index 00000000000000..1f12ae6ec73fc0
--- /dev/null
+++ b/benchmark/misc/set-immediate-depth-args.js
@@ -0,0 +1,47 @@
+'use strict';
+
+const common = require('../common.js');
+const bench = common.createBenchmark(main, {
+  millions: [10]
+});
+
+function main(conf) {
+  const N = +conf.millions * 1e6;
+
+  process.on('exit', function() {
+    bench.end(N / 1e6);
+  });
+
+  function cb3(n, arg2, arg3) {
+    if (--n) {
+      if (n % 3 === 0)
+        setImmediate(cb3, n, true, null);
+      else if (n % 2 === 0)
+        setImmediate(cb2, n, 5.1);
+      else
+        setImmediate(cb1, n);
+    }
+  }
+  function cb2(n, arg2) {
+    if (--n) {
+      if (n % 3 === 0)
+        setImmediate(cb3, n, true, null);
+      else if (n % 2 === 0)
+        setImmediate(cb2, n, 5.1);
+      else
+        setImmediate(cb1, n);
+    }
+  }
+  function cb1(n) {
+    if (--n) {
+      if (n % 3 === 0)
+        setImmediate(cb3, n, true, null);
+      else if (n % 2 === 0)
+        setImmediate(cb2, n, 5.1);
+      else
+        setImmediate(cb1, n);
+    }
+  }
+  bench.start();
+  setImmediate(cb1, N);
+}
diff --git a/benchmark/misc/set-immediate-depth.js b/benchmark/misc/set-immediate-depth.js
new file mode 100644
index 00000000000000..12b9cdc7e6fd65
--- /dev/null
+++ b/benchmark/misc/set-immediate-depth.js
@@ -0,0 +1,22 @@
+'use strict';
+
+const common = require('../common.js');
+const bench = common.createBenchmark(main, {
+  millions: [10]
+});
+
+function main(conf) {
+  const N = +conf.millions * 1e6;
+  let n = N;
+
+  process.on('exit', function() {
+    bench.end(N / 1e6);
+  });
+
+  bench.start();
+  setImmediate(onNextTick);
+  function onNextTick() {
+    if (--n)
+      setImmediate(onNextTick);
+  }
+}
diff --git a/lib/timers.js b/lib/timers.js
index ee7c45aaed36d6..99010d424a984e 100644
--- a/lib/timers.js
+++ b/lib/timers.js
@@ -215,8 +215,8 @@ function listOnTimeout() {
 }
 
 
-// An optimization so that the try/finally only de-optimizes what is in this
-// smaller function.
+// An optimization so that the try/finally only de-optimizes (since at least v8
+// 4.7) what is in this smaller function.
 function tryOnTimeout(timer, list) {
   timer._called = true;
   var threw = true;
@@ -520,23 +520,7 @@ function processImmediate() {
     if (domain)
       domain.enter();
 
-    var threw = true;
-    try {
-      immediate._onImmediate();
-      threw = false;
-    } finally {
-      if (threw) {
-        if (!L.isEmpty(queue)) {
-          // Handle any remaining on next tick, assuming we're still
-          // alive to do so.
-          while (!L.isEmpty(immediateQueue)) {
-            L.append(queue, L.shift(immediateQueue));
-          }
-          immediateQueue = queue;
-          process.nextTick(processImmediate);
-        }
-      }
-    }
+    tryOnImmediate(immediate, queue);
 
     if (domain)
       domain.exit();
@@ -551,6 +535,26 @@ function processImmediate() {
 }
 
 
+// An optimization so that the try/finally only de-optimizes (since at least v8
+// 4.7) what is in this smaller function.
+function tryOnImmediate(immediate, queue) {
+  var threw = true;
+  try {
+    immediate._onImmediate();
+    threw = false;
+  } finally {
+    if (threw && !L.isEmpty(queue)) {
+      // Handle any remaining on next tick, assuming we're still alive to do so.
+      while (!L.isEmpty(immediateQueue)) {
+        L.append(queue, L.shift(immediateQueue));
+      }
+      immediateQueue = queue;
+      process.nextTick(processImmediate);
+    }
+  }
+}
+
+
 function Immediate() { }
 
 Immediate.prototype.domain = undefined;