diff --git a/sqlx-core/src/pool/inner.rs b/sqlx-core/src/pool/inner.rs
index bbcc43134e..47a4196618 100644
--- a/sqlx-core/src/pool/inner.rs
+++ b/sqlx-core/src/pool/inner.rs
@@ -5,6 +5,7 @@ use crate::database::Database;
 use crate::error::Error;
 use crate::pool::{deadline_as_timeout, CloseEvent, Pool, PoolOptions};
 use crossbeam_queue::ArrayQueue;
+use either::Either;
 
 use crate::sync::{AsyncSemaphore, AsyncSemaphoreReleaser};
 
@@ -251,7 +252,7 @@ impl<DB: Database> PoolInner<DB> {
         }
 
         let acquire_started_at = Instant::now();
-        let deadline = acquire_started_at + self.options.acquire_timeout;
+        let connect_deadline = acquire_started_at + self.options.connect_timeout;
 
         let acquired = crate::rt::timeout(
             self.options.acquire_timeout,
@@ -260,21 +261,18 @@ impl<DB: Database> PoolInner<DB> {
                     // Handles the close-event internally
                     let permit = self.acquire_permit().await?;
 
+                    // First attempt to pop a connection from the idle queue and check if we can
+                    // use it.
+                    let guard = match self.get_live_idle(permit).await {
+                        // All good!
+                        Ok(Either::Left(conn)) => return Ok(conn),
 
-                    // First attempt to pop a connection from the idle queue.
-                    let guard = match self.pop_idle(permit) {
+                        // if the connection isn't usable for one reason or another,
+                        // we get the `DecrementSizeGuard` back to open a new one
+                        Err(guard) => guard,
 
-                        // Then, check that we can use it...
-                        Ok(conn) => match check_idle_conn(conn, &self.options).await {
-
-                            // All good!
-                            Ok(live) => return Ok(live),
-
-                            // if the connection isn't usable for one reason or another,
-                            // we get the `DecrementSizeGuard` back to open a new one
-                            Err(guard) => guard,
-                        },
-                        Err(permit) => if let Ok(guard) = self.try_increment_size(permit) {
+                        // we can open a new connection
+                        Ok(Either::Right(permit)) => if let Ok(guard) = self.try_increment_size(permit) {
                             // we can open a new connection
                             guard
                         } else {
@@ -290,8 +288,19 @@ impl<DB: Database> PoolInner<DB> {
                         }
                     };
 
-                    // Attempt to connect...
-                    return self.connect(deadline, guard).await;
+
+                    let pool = self.clone();
+                    let pool2 = self.clone();
+
+                    // Future that tries to get a live idle connection.
+                    let idle_fut = std::pin::pin!(pool.get_idle_conn(connect_deadline));
+
+                    // Future that tries to open a new connection.
+                    let conn_fut = crate::rt::spawn(async move {
+                        pool2.connect(connect_deadline, guard).await
+                    });
+
+                    return future::select(idle_fut, conn_fut).await.factor_first().0;
                 }
             }
         )
@@ -398,6 +407,24 @@ impl<DB: Database> PoolInner<DB> {
         }
     }
 
+    // Tries to get a live connection that was idle in a loop.
+    async fn get_idle_conn(
+        self: &Arc<Self>,
+        deadline: Instant,
+    ) -> Result<Floating<DB, Live<DB>>, Error> {
+        let mut backoff = Duration::from_millis(10);
+        let max_backoff = deadline_as_timeout(deadline)? / 5;
+
+        loop {
+            let new_permit = self.acquire_permit().await?;
+            if let Ok(Either::Left(live)) = self.get_live_idle(new_permit).await {
+                return Ok(live);
+            };
+            crate::rt::sleep(backoff).await;
+            backoff = cmp::min(backoff * 2, max_backoff);
+        }
+    }
+
     /// Try to maintain `min_connections`, returning any errors (including `PoolTimedOut`).
     pub async fn try_min_connections(self: &Arc<Self>, deadline: Instant) -> Result<(), Error> {
         while self.size() < self.options.min_connections {
@@ -422,6 +449,24 @@ impl<DB: Database> PoolInner<DB> {
         Ok(())
     }
 
+    // Tries to get a live idle connection.
+    async fn get_live_idle<'a>(
+        self: &'a Arc<Self>,
+        permit: AsyncSemaphoreReleaser<'a>,
+    ) -> Result<Either<Floating<DB, Live<DB>>, AsyncSemaphoreReleaser<'a>>, DecrementSizeGuard<DB>>
+    {
+        match self.pop_idle(permit) {
+            Ok(conn) => match check_idle_conn(conn, &self.options).await {
+                // All good!
+                Ok(live) => Ok(Either::Left(live)),
+                // if the connection isn't usable for one reason or another,
+                // we get the `DecrementSizeGuard` back to open a new one
+                Err(guard) => Err(guard),
+            },
+            Err(permit) => Ok(Either::Right(permit)),
+        }
+    }
+
     /// Attempt to maintain `min_connections`, logging if unable.
     pub async fn min_connections_maintenance(self: &Arc<Self>, deadline: Option<Instant>) {
         let deadline = deadline.unwrap_or_else(|| {
diff --git a/sqlx-core/src/pool/options.rs b/sqlx-core/src/pool/options.rs
index 96dbf8ee3d..106c308740 100644
--- a/sqlx-core/src/pool/options.rs
+++ b/sqlx-core/src/pool/options.rs
@@ -79,6 +79,7 @@ pub struct PoolOptions<DB: Database> {
     pub(crate) acquire_slow_level: LevelFilter,
     pub(crate) acquire_slow_threshold: Duration,
     pub(crate) acquire_timeout: Duration,
+    pub(crate) connect_timeout: Duration,
     pub(crate) min_connections: u32,
     pub(crate) max_lifetime: Option<Duration>,
     pub(crate) idle_timeout: Option<Duration>,
@@ -102,6 +103,7 @@ impl<DB: Database> Clone for PoolOptions<DB> {
             acquire_slow_threshold: self.acquire_slow_threshold,
             acquire_slow_level: self.acquire_slow_level,
             acquire_timeout: self.acquire_timeout,
+            connect_timeout: self.connect_timeout,
             min_connections: self.min_connections,
             max_lifetime: self.max_lifetime,
             idle_timeout: self.idle_timeout,
@@ -158,6 +160,7 @@ impl<DB: Database> PoolOptions<DB> {
             // to not flag typical time to add a new connection to a pool.
             acquire_slow_threshold: Duration::from_secs(2),
             acquire_timeout: Duration::from_secs(30),
+            connect_timeout: Duration::from_secs(30),
             idle_timeout: Some(Duration::from_secs(10 * 60)),
             max_lifetime: Some(Duration::from_secs(30 * 60)),
             fair: true,