diff --git a/.gitignore b/.gitignore
index 1586ec275..7b4e7cd3b 100644
--- a/.gitignore
+++ b/.gitignore
@@ -5,6 +5,7 @@ vendor/
 coverage.clover
 tests/coverage
 .php-cs-fixer.cache
+.phpbench
 !tests/coverage/html/.gitkeep
 
 # IntelliJ IDEA
diff --git a/Makefile b/Makefile
index 9a3fd2353..2cfce5297 100644
--- a/Makefile
+++ b/Makefile
@@ -17,6 +17,8 @@ psalm-info:
 	$(DC_RUN_PHP) env XDEBUG_MODE=off vendor/bin/psalm --show-info=true --threads=1
 phpstan:
 	$(DC_RUN_PHP) env XDEBUG_MODE=off vendor/bin/phpstan analyse
+benchmark:
+	$(DC_RUN_PHP) env XDEBUG_MODE=off vendor/bin/phpbench run --report=default
 trace examples: FORCE
 	docker-compose up -d --remove-orphans
 	$(DC_RUN_PHP) php ./examples/AlwaysOnZipkinExample.php
diff --git a/composer.json b/composer.json
index c262a4fbb..46c0141cc 100644
--- a/composer.json
+++ b/composer.json
@@ -64,6 +64,7 @@
         "nyholm/psr7": "^1.4",
         "phan/phan": "^5.0",
         "php-http/mock-client": "^1.5",
+        "phpbench/phpbench": "^1.2",
         "phpstan/phpstan": "^1.1",
         "phpstan/phpstan-mockery": "^1.0",
         "phpstan/phpstan-phpunit": "^1.0",
diff --git a/phpbench.json.dist b/phpbench.json.dist
new file mode 100644
index 000000000..9d4272fc3
--- /dev/null
+++ b/phpbench.json.dist
@@ -0,0 +1,6 @@
+{
+    "$schema":"./vendor/phpbench/phpbench/phpbench.schema.json",
+    "runner.bootstrap": "vendor/autoload.php",
+    "runner.path": "tests/Benchmark",
+    "runner.file_pattern": "*Bench.php"
+}
diff --git a/tests/Benchmark/OtlpBench.php b/tests/Benchmark/OtlpBench.php
new file mode 100644
index 000000000..ba594fa3e
--- /dev/null
+++ b/tests/Benchmark/OtlpBench.php
@@ -0,0 +1,187 @@
+<?php
+
+declare(strict_types=1);
+
+namespace OpenTelemetry\Tests\Benchmark;
+
+use Grpc\UnaryCall;
+use Mockery;
+use Mockery\MockInterface;
+use OpenTelemetry\API\Trace\TracerInterface;
+use OpenTelemetry\Contrib\OtlpGrpc\Exporter as GrpcExporter;
+use OpenTelemetry\Contrib\OtlpHttp\Exporter as HttpExporter;
+use Opentelemetry\Proto\Collector\Trace\V1\TraceServiceClient;
+use OpenTelemetry\SDK\Resource\ResourceInfo;
+use OpenTelemetry\SDK\Trace\Attributes;
+use OpenTelemetry\SDK\Trace\Sampler\AlwaysOnSampler;
+use OpenTelemetry\SDK\Trace\SamplerInterface;
+use OpenTelemetry\SDK\Trace\SpanProcessor\SimpleSpanProcessor;
+use OpenTelemetry\SDK\Trace\TracerProvider;
+use Psr\Http\Client\ClientInterface;
+use Psr\Http\Message\RequestFactoryInterface;
+use Psr\Http\Message\RequestInterface;
+use Psr\Http\Message\ResponseInterface;
+use Psr\Http\Message\StreamFactoryInterface;
+use Psr\Http\Message\StreamInterface;
+
+/**
+ * TODO https://github.com/open-telemetry/opentelemetry-go/blob/051227c9edded2c772a07a4d4e60dda27c3e4b20/sdk/trace/benchmark_test.go
+ */
+class OtlpBench
+{
+    private TracerInterface $tracer;
+    private SamplerInterface $sampler;
+    private ResourceInfo $resource;
+
+    public function __construct()
+    {
+        $this->sampler = new AlwaysOnSampler();
+        $this->resource = ResourceInfo::create(new Attributes([
+            'service.name' => 'A123456789',
+            'service.version' => '1.34567890',
+            'service.instance.id' => '123ab456-a123-12ab-12ab-12340a1abc12',
+        ]));
+    }
+
+    public function setUpNoExporter(): void
+    {
+        $processor = new SimpleSpanProcessor();
+        $provider = new TracerProvider($processor, $this->sampler, $this->resource);
+        $this->tracer = $provider->getTracer();
+    }
+
+    public function setUpGrpc(): void
+    {
+        $client = $this->createMockTraceServiceClient();
+        $exporter = new GrpcExporter('foo:4317', true, '', '', false, 10, $client);
+        $processor = new SimpleSpanProcessor($exporter);
+        $provider = new TracerProvider($processor, $this->sampler, $this->resource);
+        $this->tracer = $provider->getTracer();
+    }
+
+    /**
+     * @psalm-suppress UndefinedMagicMethod
+     * @psalm-suppress InvalidArgument
+     * @psalm-suppress PossiblyUndefinedMethod
+     */
+    public function setUpGrpcHttp(): void
+    {
+        $response = Mockery::mock(ResponseInterface::class)
+            ->allows(['getStatusCode' => 200]);
+        $stream = Mockery::mock(StreamInterface::class);
+        $request = Mockery::mock(RequestInterface::class);
+        $request->allows('withBody')->andReturnSelf();
+        $request->allows('withHeader')->andReturnSelf();
+        $client = Mockery::mock(ClientInterface::class)
+            ->allows(['sendRequest' => $response]);
+        $requestFactory = Mockery::mock(RequestFactoryInterface::class)
+            ->allows(['createRequest' => $request]);
+        $streamFactory = Mockery::mock(StreamFactoryInterface::class)
+            ->allows(['createStream' => $stream]);
+        // @phpstan-ignore-next-line
+        $exporter = new HttpExporter($client, $requestFactory, $streamFactory);
+        $processor = new SimpleSpanProcessor($exporter);
+        $provider = new TracerProvider($processor, $this->sampler, $this->resource);
+        $this->tracer = $provider->getTracer();
+    }
+
+    /**
+     * @BeforeMethods("setUpNoExporter")
+     * @Revs(1000)
+     * @Iterations(10)
+     * @OutputTimeUnit("microseconds")
+     */
+    public function benchCreateSpans(): void
+    {
+        $span = $this->tracer->spanBuilder('foo')
+            ->setAttribute('foo', PHP_INT_MAX)
+            ->startSpan();
+        $span->addEvent('my_event');
+        $span->end();
+    }
+
+    /**
+     * @BeforeMethods("setUpNoExporter")
+     * @Revs(1000)
+     * @Iterations(10)
+     * @OutputTimeUnit("microseconds")
+     */
+    public function benchCreateSpansWithStackTrace(): void
+    {
+        $span = $this->tracer->spanBuilder('foo')
+            ->setAttribute('foo', PHP_INT_MAX)
+            ->startSpan();
+        $span->recordException(new \Exception('foo'));
+        $span->end();
+    }
+
+    /**
+     * @BeforeMethods("setUpNoExporter")
+     * @ParamProviders("provideEventCounts")
+     * @Revs(1000)
+     * @Iterations(5)
+     * @OutputTimeUnit("microseconds")
+     */
+    public function benchCreateSpansWithMultipleEvents(array $params): void
+    {
+        $span = $this->tracer->spanBuilder('foo')
+            ->setAttribute('foo', PHP_INT_MAX)
+            ->startSpan();
+        for ($i=0; $i < $params[0]; $i++) {
+            $span->addEvent('event-' . $i);
+        }
+        $span->end();
+    }
+
+    public function provideEventCounts(): \Generator
+    {
+        yield [1];
+        yield [4];
+        yield [16];
+        yield [256];
+    }
+
+    /**
+     * @BeforeMethods("setUpGrpc")
+     * @Revs(1000)
+     * @Iterations(10)
+     * @OutputTimeUnit("microseconds")
+     */
+    public function benchExportSpans_OltpGrpc(): void
+    {
+        $span = $this->tracer->spanBuilder('foo')
+            ->setAttribute('foo', PHP_INT_MAX)
+            ->startSpan();
+        $span->addEvent('my_event');
+        $span->end();
+    }
+
+    /**
+     * @BeforeMethods("setUpGrpcHttp")
+     * @Revs(1000)
+     * @Iterations(10)
+     * @OutputTimeUnit("microseconds")
+     */
+    public function benchExportSpans_OtlpHttp(): void
+    {
+        $span = $this->tracer->spanBuilder('foo')
+            ->setAttribute('foo', PHP_INT_MAX)
+            ->startSpan();
+        $span->addEvent('my_event');
+        $span->end();
+    }
+
+    private function createMockTraceServiceClient()
+    {
+        // @var MockInterface&TraceServiceClient
+        $unaryCall = Mockery::mock(UnaryCall::class)
+            ->allows(['wait' => [
+                'unused response data',
+                (object) ['code' => \Grpc\STATUS_OK],
+            ]]);
+        $mockClient = Mockery::mock(TraceServiceClient::class)
+            ->allows(['Export'=> $unaryCall]);
+
+        return $mockClient;
+    }
+}