diff --git a/runtime/near-vm-runner/src/cache.rs b/runtime/near-vm-runner/src/cache.rs
index 49651d426d5..1dd5ab059be 100644
--- a/runtime/near-vm-runner/src/cache.rs
+++ b/runtime/near-vm-runner/src/cache.rs
@@ -125,6 +125,8 @@ pub mod wasmer0_cache {
         code: &[u8],
         config: &VMConfig,
     ) -> Result<wasmer_runtime::Module, CompilationError> {
+        let _span = tracing::debug_span!(target: "vm", "compile_module").entered();
+
         let prepared_code =
             prepare::prepare_contract(code, config).map_err(CompilationError::PrepareError)?;
         wasmer_runtime::compile(&prepared_code).map_err(|err| match err {
@@ -249,6 +251,8 @@ pub mod wasmer2_cache {
         config: &VMConfig,
         store: &wasmer::Store,
     ) -> Result<wasmer::Module, CompilationError> {
+        let _span = tracing::debug_span!(target: "vm", "compile_module_wasmer2").entered();
+
         let prepared_code =
             prepare::prepare_contract(code, config).map_err(CompilationError::PrepareError)?;
         wasmer::Module::new(&store, prepared_code).map_err(|err| match err {