diff --git a/lib/timers.js b/lib/timers.js
index 574fb810d61e02..f49227f020b8ac 100644
--- a/lib/timers.js
+++ b/lib/timers.js
@@ -94,8 +94,8 @@ const TIMEOUT_MAX = 2147483647; // 2^31-1
 //
 // - key = time in milliseconds
 // - value = linked list
-const refedLists = {};
-const unrefedLists = {};
+const refedLists = Object.create(null);
+const unrefedLists = Object.create(null);
 
 
 // Schedule or re-schedule a timer.
@@ -128,23 +128,28 @@ function insert(item, unrefed) {
   var list = lists[msecs];
   if (!list) {
     debug('no %d list was found in insert, creating a new one', msecs);
-    // Make a new linked list of timers, and create a TimerWrap to schedule
-    // processing for the list.
-    list = new TimersList(msecs, unrefed);
-    L.init(list);
-    list._timer._list = list;
-
-    if (unrefed === true) list._timer.unref();
-    list._timer.start(msecs);
-
-    lists[msecs] = list;
-    list._timer[kOnTimeout] = listOnTimeout;
+    lists[msecs] = list = createTimersList(msecs, unrefed);
   }
 
   L.append(list, item);
   assert(!L.isEmpty(list)); // list is not empty
 }
 
+function createTimersList(msecs, unrefed) {
+  // Make a new linked list of timers, and create a TimerWrap to schedule
+  // processing for the list.
+  const list = new TimersList(msecs, unrefed);
+  L.init(list);
+  list._timer._list = list;
+
+  if (unrefed === true) list._timer.unref();
+  list._timer.start(msecs);
+
+  list._timer[kOnTimeout] = listOnTimeout;
+
+  return list;
+}
+
 function TimersList(msecs, unrefed) {
   this._idleNext = null; // Create the list with the linkedlist properties to
   this._idlePrev = null; // prevent any unnecessary hidden class changes.
@@ -229,7 +234,7 @@ function tryOnTimeout(timer, list) {
   timer._called = true;
   var threw = true;
   try {
-    timer._onTimeout();
+    ontimeout(timer);
     threw = false;
   } finally {
     if (!threw) return;
@@ -317,51 +322,76 @@ exports.enroll = function(item, msecs) {
  */
 
 
-exports.setTimeout = function(callback, after) {
+exports.setTimeout = function(callback, after, arg1, arg2, arg3) {
   if (typeof callback !== 'function') {
     throw new TypeError('"callback" argument must be a function');
   }
 
-  after *= 1; // coalesce to number or NaN
-
-  if (!(after >= 1 && after <= TIMEOUT_MAX)) {
-    after = 1; // schedule on next tick, follows browser behaviour
+  var len = arguments.length;
+  var args;
+  if (len === 3) {
+    args = [arg1];
+  } else if (len === 4) {
+    args = [arg1, arg2];
+  } else if (len > 4) {
+    args = [arg1, arg2, arg3];
+    for (var i = 5; i < len; i++)
+      // extend array dynamically, makes .apply run much faster in v6.0.0
+      args[i - 2] = arguments[i];
   }
 
-  var timer = new Timeout(after);
-  var length = arguments.length;
-  var ontimeout = callback;
-  switch (length) {
-    // fast cases
-    case 1:
-    case 2:
-      break;
-    case 3:
-      ontimeout = () => callback.call(timer, arguments[2]);
-      break;
-    case 4:
-      ontimeout = () => callback.call(timer, arguments[2], arguments[3]);
-      break;
-    case 5:
-      ontimeout =
-        () => callback.call(timer, arguments[2], arguments[3], arguments[4]);
-      break;
-    // slow case
-    default:
-      var args = new Array(length - 2);
-      for (var i = 2; i < length; i++)
-        args[i - 2] = arguments[i];
-      ontimeout = () => callback.apply(timer, args);
-      break;
-  }
-  timer._onTimeout = ontimeout;
+  return createSingleTimeout(callback, after, args);
+};
 
-  if (process.domain) timer.domain = process.domain;
+function createSingleTimeout(callback, after, args) {
+  after *= 1; // coalesce to number or NaN
+  if (!(after >= 1 && after <= TIMEOUT_MAX))
+    after = 1; // schedule on next tick, follows browser behaviour
+
+  var timer = new Timeout(after, callback, args);
+  if (process.domain)
+    timer.domain = process.domain;
 
   active(timer);
 
   return timer;
-};
+}
+
+
+function ontimeout(timer) {
+  var args = timer._timerArgs;
+  var callback = timer._onTimeout;
+  if (!args)
+    callback.call(timer);
+  else {
+    switch (args.length) {
+      case 1:
+        callback.call(timer, args[0]);
+        break;
+      case 2:
+        callback.call(timer, args[0], args[1]);
+        break;
+      case 3:
+        callback.call(timer, args[0], args[1], args[2]);
+        break;
+      default:
+        callback.apply(timer, args);
+    }
+  }
+  if (timer._repeat)
+    rearm(timer);
+}
+
+
+function rearm(timer) {
+  // If timer is unref'd (or was - it's permanently removed from the list.)
+  if (timer._handle && timer instanceof Timeout) {
+    timer._handle.start(timer._repeat);
+  } else {
+    timer._idleTimeout = timer._repeat;
+    active(timer);
+  }
+}
 
 
 const clearTimeout = exports.clearTimeout = function(timer) {
@@ -376,66 +406,41 @@ const clearTimeout = exports.clearTimeout = function(timer) {
 };
 
 
-exports.setInterval = function(callback, repeat) {
+exports.setInterval = function(callback, repeat, arg1, arg2, arg3) {
   if (typeof callback !== 'function') {
     throw new TypeError('"callback" argument must be a function');
   }
 
-  repeat *= 1; // coalesce to number or NaN
+  var len = arguments.length;
+  var args;
+  if (len === 3) {
+    args = [arg1];
+  } else if (len === 4) {
+    args = [arg1, arg2];
+  } else if (len > 4) {
+    args = [arg1, arg2, arg3];
+    for (var i = 5; i < len; i++)
+      // extend array dynamically, makes .apply run much faster in v6.0.0
+      args[i - 2] = arguments[i];
+  }
+
+  return createRepeatTimeout(callback, repeat, args);
+};
 
-  if (!(repeat >= 1 && repeat <= TIMEOUT_MAX)) {
+function createRepeatTimeout(callback, repeat, args) {
+  repeat *= 1; // coalesce to number or NaN
+  if (!(repeat >= 1 && repeat <= TIMEOUT_MAX))
     repeat = 1; // schedule on next tick, follows browser behaviour
-  }
 
-  var timer = new Timeout(repeat);
-  var length = arguments.length;
-  var ontimeout = callback;
-  switch (length) {
-    case 1:
-    case 2:
-      break;
-    case 3:
-      ontimeout = () => callback.call(timer, arguments[2]);
-      break;
-    case 4:
-      ontimeout = () => callback.call(timer, arguments[2], arguments[3]);
-      break;
-    case 5:
-      ontimeout =
-        () => callback.call(timer, arguments[2], arguments[3], arguments[4]);
-      break;
-    default:
-      var args = new Array(length - 2);
-      for (var i = 2; i < length; i += 1)
-        args[i - 2] = arguments[i];
-      ontimeout = () => callback.apply(timer, args);
-      break;
-  }
-  timer._onTimeout = wrapper;
-  timer._repeat = ontimeout;
+  var timer = new Timeout(repeat, callback, args);
+  timer._repeat = repeat;
+  if (process.domain)
+    timer.domain = process.domain;
 
-  if (process.domain) timer.domain = process.domain;
   active(timer);
 
   return timer;
-
-  function wrapper() {
-    timer._repeat();
-
-    // Timer might be closed - no point in restarting it
-    if (!timer._repeat)
-      return;
-
-    // If timer is unref'd (or was - it's permanently removed from the list.)
-    if (this._handle) {
-      this._handle.start(repeat);
-    } else {
-      timer._idleTimeout = repeat;
-      active(timer);
-    }
-  }
-};
-
+}
 
 exports.clearInterval = function(timer) {
   if (timer && timer._repeat) {
@@ -445,19 +450,20 @@ exports.clearInterval = function(timer) {
 };
 
 
-function Timeout(after) {
+function Timeout(after, callback, args) {
   this._called = false;
   this._idleTimeout = after;
   this._idlePrev = this;
   this._idleNext = this;
   this._idleStart = null;
-  this._onTimeout = null;
+  this._onTimeout = callback;
+  this._timerArgs = args;
   this._repeat = null;
 }
 
 
 function unrefdHandle() {
-  this.owner._onTimeout();
+  ontimeout(this.owner);
   if (!this.owner._repeat)
     this.owner.close();
 }
diff --git a/test/message/timeout_throw.out b/test/message/timeout_throw.out
index 2a049a157acab4..9ef4f63e3d8b97 100644
--- a/test/message/timeout_throw.out
+++ b/test/message/timeout_throw.out
@@ -3,5 +3,6 @@
   ^
 ReferenceError: undefined_reference_error_maker is not defined
     at Timeout._onTimeout (*test*message*timeout_throw.js:*:*)
+    at ontimeout (timers.js:*:*)
     at tryOnTimeout (timers.js:*:*)
     at Timer.listOnTimeout (timers.js:*:*)