diff --git a/documentation/docs/98-reference/.generated/server-errors.md b/documentation/docs/98-reference/.generated/server-errors.md
index 3162844ec9..95bb5fa7ee 100644
--- a/documentation/docs/98-reference/.generated/server-errors.md
+++ b/documentation/docs/98-reference/.generated/server-errors.md
@@ -17,13 +17,18 @@ The `html` property of server render results has been deprecated. Use `body` ins
 ### hydratable_clobbering
 
 ```
-Attempted to set hydratable with key `%key%` twice. This behavior is undefined.
+Attempted to set hydratable with key `%key%` twice with different values.
 
-First set occurred at:
+First instance occurred at:
 %stack%
+
+Second instance occurred at:
+%stack2%
 ```
 
-This error occurs when using `hydratable` or `hydratable.set` multiple times with the same key. To avoid this, you can combine `hydratable` with `cache`, or check whether the value has already been set with `hydratable.has`.
+This error occurs when using `hydratable` multiple times with the same key. To avoid this, you can:
+- Ensure all invocations with the same key result in the same value
+- Update the keys to make both instances unique
 
 ```svelte
 <script>
diff --git a/documentation/docs/98-reference/.generated/server-warnings.md b/documentation/docs/98-reference/.generated/server-warnings.md
new file mode 100644
index 0000000000..70896e1694
--- /dev/null
+++ b/documentation/docs/98-reference/.generated/server-warnings.md
@@ -0,0 +1,32 @@
+<!-- This file is generated by scripts/process-messages/index.js. Do not edit! -->
+
+### unused_hydratable
+
+```
+A `hydratable` value with key `%key%` was created, but not used during the render.
+
+Stack:
+%stack%
+```
+
+The most likely cause of this is creating a `hydratable` in the `script` block of your component and then `await`ing
+the result inside a `svelte:boundary` with a `pending` snippet:
+
+```svelte
+<script>
+  import { hydratable } from 'svelte';
+	import { getUser } from '$lib/get-user.js';
+
+	const user = hydratable('user', getUser);
+</script>
+
+<svelte:boundary>
+	<h1>{(await user).name}</h1>
+
+	{#snippet pending()}
+		<div>Loading...</div>
+	{/snippet}
+</svelte:boundary>
+```
+
+Consider inlining the `hydratable` call inside the boundary so that it's not called on the server.
diff --git a/packages/svelte/messages/server-errors/errors.md b/packages/svelte/messages/server-errors/errors.md
index 6463271523..be726b261a 100644
--- a/packages/svelte/messages/server-errors/errors.md
+++ b/packages/svelte/messages/server-errors/errors.md
@@ -10,12 +10,17 @@ You (or the framework you're using) called [`render(...)`](svelte-server#render)
 
 ## hydratable_clobbering
 
-> Attempted to set hydratable with key `%key%` twice. This behavior is undefined.
+> Attempted to set hydratable with key `%key%` twice with different values.
 >
-> First set occurred at:
+> First instance occurred at:
 > %stack%
+>
+> Second instance occurred at:
+> %stack2%
 
-This error occurs when using `hydratable` or `hydratable.set` multiple times with the same key. To avoid this, you can combine `hydratable` with `cache`, or check whether the value has already been set with `hydratable.has`.
+This error occurs when using `hydratable` multiple times with the same key. To avoid this, you can:
+- Ensure all invocations with the same key result in the same value
+- Update the keys to make both instances unique
 
 ```svelte
 <script>
diff --git a/packages/svelte/messages/server-warnings/warnings.md b/packages/svelte/messages/server-warnings/warnings.md
new file mode 100644
index 0000000000..461595ebe9
--- /dev/null
+++ b/packages/svelte/messages/server-warnings/warnings.md
@@ -0,0 +1,28 @@
+## unused_hydratable
+
+> A `hydratable` value with key `%key%` was created, but not used during the render.
+>
+> Stack:
+> %stack%
+
+The most likely cause of this is creating a `hydratable` in the `script` block of your component and then `await`ing
+the result inside a `svelte:boundary` with a `pending` snippet:
+
+```svelte
+<script>
+  import { hydratable } from 'svelte';
+	import { getUser } from '$lib/get-user.js';
+
+	const user = hydratable('user', getUser);
+</script>
+
+<svelte:boundary>
+	<h1>{(await user).name}</h1>
+
+	{#snippet pending()}
+		<div>Loading...</div>
+	{/snippet}
+</svelte:boundary>
+```
+
+Consider inlining the `hydratable` call inside the boundary so that it's not called on the server.
diff --git a/packages/svelte/src/internal/client/hydratable.js b/packages/svelte/src/internal/client/hydratable.js
index 65377eb315..f627ed6b25 100644
--- a/packages/svelte/src/internal/client/hydratable.js
+++ b/packages/svelte/src/internal/client/hydratable.js
@@ -22,12 +22,15 @@ export function hydratable(key, fn, transport) {
 	}
 
 	const store = window.__svelte?.h;
+	const unused_keys = window.__svelte?.uh;
 	if (!store?.has(key)) {
-		hydratable_missing_but_expected(key);
+		if (!unused_keys?.has(key)) {
+			hydratable_missing_but_expected(key);
+		}
 		return fn();
 	}
 
-	return decode(store.get(key), transport?.decode);
+	return decode(store?.get(key), transport?.decode);
 }
 
 /**
diff --git a/packages/svelte/src/internal/client/types.d.ts b/packages/svelte/src/internal/client/types.d.ts
index 409a2ba317..33b45cf98a 100644
--- a/packages/svelte/src/internal/client/types.d.ts
+++ b/packages/svelte/src/internal/client/types.d.ts
@@ -7,6 +7,8 @@ declare global {
 		__svelte?: {
 			/** hydratables */
 			h?: Map<string, unknown>;
+			/** unused hydratable keys */
+			uh?: Set<string>;
 		};
 	}
 }
diff --git a/packages/svelte/src/internal/server/errors.js b/packages/svelte/src/internal/server/errors.js
index 7bde48f5e4..480862b3c5 100644
--- a/packages/svelte/src/internal/server/errors.js
+++ b/packages/svelte/src/internal/server/errors.js
@@ -27,19 +27,26 @@ export function html_deprecated() {
 }
 
 /**
- * Attempted to set hydratable with key `%key%` twice. This behavior is undefined.
+ * Attempted to set hydratable with key `%key%` twice with different values.
  * 
- * First set occurred at:
+ * First instance occurred at:
  * %stack%
+ * 
+ * Second instance occurred at:
+ * %stack2%
  * @param {string} key
  * @param {string} stack
+ * @param {string} stack2
  * @returns {never}
  */
-export function hydratable_clobbering(key, stack) {
-	const error = new Error(`hydratable_clobbering\nAttempted to set hydratable with key \`${key}\` twice. This behavior is undefined.
+export function hydratable_clobbering(key, stack, stack2) {
+	const error = new Error(`hydratable_clobbering\nAttempted to set hydratable with key \`${key}\` twice with different values.
+
+First instance occurred at:
+${stack}
 
-First set occurred at:
-${stack}\nhttps://svelte.dev/e/hydratable_clobbering`);
+Second instance occurred at:
+${stack2}\nhttps://svelte.dev/e/hydratable_clobbering`);
 
 	error.name = 'Svelte error';
 
diff --git a/packages/svelte/src/internal/server/hydratable.js b/packages/svelte/src/internal/server/hydratable.js
index b896b66570..3b20ba4886 100644
--- a/packages/svelte/src/internal/server/hydratable.js
+++ b/packages/svelte/src/internal/server/hydratable.js
@@ -5,6 +5,9 @@ import { get_render_context } from './render-context.js';
 import * as e from './errors.js';
 import { DEV } from 'esm-env';
 
+/** @type {WeakSet<HydratableEntry>} */
+export const unresolved_hydratables = new WeakSet();
+
 /**
  * @template T
  * @param {string} key
@@ -19,11 +22,12 @@ export function hydratable(key, fn, transport) {
 
 	const store = get_render_context();
 
-	if (store.hydratables.has(key)) {
-		e.hydratable_clobbering(key, store.hydratables.get(key)?.stack || 'unknown');
-	}
-
 	const entry = create_entry(fn(), transport?.encode);
+	const existing_entry = store.hydratables.get(key);
+	if (DEV && existing_entry !== undefined) {
+		(existing_entry.dev_competing_entries ??= []).push(entry);
+		return entry.value;
+	}
 	store.hydratables.set(key, entry);
 	return entry.value;
 }
@@ -42,6 +46,16 @@ function create_entry(value, encode) {
 
 	if (DEV) {
 		entry.stack = new Error().stack;
+
+		if (
+			typeof value === 'object' &&
+			value !== null &&
+			'then' in value &&
+			typeof value.then === 'function'
+		) {
+			unresolved_hydratables.add(entry);
+			value.then(() => unresolved_hydratables.delete(entry));
+		}
 	}
 
 	return entry;
diff --git a/packages/svelte/src/internal/server/renderer.js b/packages/svelte/src/internal/server/renderer.js
index 8df221522f..797c0a6715 100644
--- a/packages/svelte/src/internal/server/renderer.js
+++ b/packages/svelte/src/internal/server/renderer.js
@@ -5,10 +5,13 @@ import { async_mode_flag } from '../flags/index.js';
 import { abort } from './abort-signal.js';
 import { pop, push, set_ssr_context, ssr_context, save } from './context.js';
 import * as e from './errors.js';
+import * as w from './warnings.js';
 import { BLOCK_CLOSE, BLOCK_OPEN } from './hydration.js';
 import { attributes } from './index.js';
 import { uneval } from 'devalue';
 import { get_render_context, with_render_context, init_render_context } from './render-context.js';
+import { unresolved_hydratables } from './hydratable.js';
+import { DEV } from 'esm-env';
 
 /** @typedef {'head' | 'body'} RendererType */
 /** @typedef {{ [key in RendererType]: string }} AccumulatedContent */
@@ -575,17 +578,38 @@ export class Renderer {
 
 	async #collect_hydratables() {
 		const map = get_render_context().hydratables;
-		/** @type {(value: unknown) => string} */
 
 		/** @type {[string, string][]} */
 		let entries = [];
+		/** @type {string[]} */
+		let unused_keys = [];
 		for (const [k, v] of map) {
 			const encode = v.encode ?? uneval;
-			// sequential await is okay here -- all the work is already kicked off
-			entries.push([k, encode(await v.value)]);
+			if (unresolved_hydratables.has(v)) {
+				// this is a problem -- it means we've finished the render but somehow not consumed a hydratable, which means we've done
+				// extra work that won't get used on the client
+				w.unused_hydratable(k, v.stack ?? 'unavailable');
+				unused_keys.push(k);
+				continue;
+			}
+
+			const encoded = encode(await v.value);
+			if (DEV && v.dev_competing_entries?.length) {
+				for (const competing_entry of v.dev_competing_entries) {
+					const competing_encoded = (competing_entry.encode ?? uneval)(await competing_entry.value);
+					if (encoded !== competing_encoded) {
+						e.hydratable_clobbering(
+							k,
+							v.stack ?? 'unavailable',
+							competing_entry.stack ?? 'unavailable'
+						);
+					}
+				}
+			}
+			entries.push([k, encoded]);
 		}
-		if (entries.length === 0) return null;
-		return Renderer.#hydratable_block(entries);
+		if (entries.length === 0 && unused_keys.length === 0) return null;
+		return Renderer.#hydratable_block(entries, unused_keys);
 	}
 
 	/**
@@ -642,23 +666,46 @@ export class Renderer {
 		};
 	}
 
-	/** @param {[string, string][]} serialized */
-	static #hydratable_block(serialized) {
+	/**
+	 * @param {[string, string][]} serialized_entries
+	 * @param {string[]} unused_keys
+	 */
+	static #hydratable_block(serialized_entries, unused_keys) {
 		let entries = [];
-		for (const [k, v] of serialized) {
+		for (const [k, v] of serialized_entries) {
 			entries.push(`[${JSON.stringify(k)},${v}]`);
 		}
 		// TODO csp -- have discussed but not implemented
 		return `
 		<script>
 			{
-				const store = (window.__svelte ??= {}).h ??= new Map();
-				for (const [k,v] of [${entries.join(',')}]) {
-						store.set(k, v);
-				}
+				const sv = window.__svelte ??= {};${Renderer.#used_hydratables(serialized_entries)}${Renderer.#unused_hydratables(unused_keys)}
 			}
 		</script>`;
 	}
+
+	/** @param {[string, string][]} serialized_entries */
+	static #used_hydratables(serialized_entries) {
+		let entries = [];
+		for (const [k, v] of serialized_entries) {
+			entries.push(`[${JSON.stringify(k)},${v}]`);
+		}
+		return `
+				const store = sv.h ??= new Map();
+				for (const [k,v] of [${entries.join(',')}]) {
+						store.set(k, v);
+				}`;
+	}
+
+	/** @param {string[]} unused_keys */
+	static #unused_hydratables(unused_keys) {
+		if (unused_keys.length === 0) return '';
+		return `
+				const unused = sv.uh ??= new Set();
+				for (const k of ${JSON.stringify(unused_keys)}) {
+					unused.add(k);
+				}`;
+	}
 }
 
 export class SSRState {
diff --git a/packages/svelte/src/internal/server/types.d.ts b/packages/svelte/src/internal/server/types.d.ts
index 6b1cf6e1f2..bd0b41268a 100644
--- a/packages/svelte/src/internal/server/types.d.ts
+++ b/packages/svelte/src/internal/server/types.d.ts
@@ -19,6 +19,7 @@ export interface HydratableEntry {
 	value: unknown;
 	encode: Encode<any> | undefined;
 	stack?: string;
+	dev_competing_entries?: Omit<HydratableEntry, 'dev_competing_entries'>[];
 }
 
 export interface RenderContext {
diff --git a/packages/svelte/src/internal/server/warnings.js b/packages/svelte/src/internal/server/warnings.js
index d4ee7a86c2..5dd1bbcf14 100644
--- a/packages/svelte/src/internal/server/warnings.js
+++ b/packages/svelte/src/internal/server/warnings.js
@@ -3,4 +3,27 @@
 import { DEV } from 'esm-env';
 
 var bold = 'font-weight: bold';
-var normal = 'font-weight: normal';
\ No newline at end of file
+var normal = 'font-weight: normal';
+
+/**
+ * A `hydratable` value with key `%key%` was created, but not used during the render.
+ * 
+ * Stack:
+ * %stack%
+ * @param {string} key
+ * @param {string} stack
+ */
+export function unused_hydratable(key, stack) {
+	if (DEV) {
+		console.warn(
+			`%c[svelte] unused_hydratable\n%cA \`hydratable\` value with key \`${key}\` was created, but not used during the render.
+
+Stack:
+${stack}\nhttps://svelte.dev/e/unused_hydratable`,
+			bold,
+			normal
+		);
+	} else {
+		console.warn(`https://svelte.dev/e/unused_hydratable`);
+	}
+}
\ No newline at end of file
diff --git a/packages/svelte/tests/runtime-legacy/shared.ts b/packages/svelte/tests/runtime-legacy/shared.ts
index 11b3e7bfa4..b2d33cf922 100644
--- a/packages/svelte/tests/runtime-legacy/shared.ts
+++ b/packages/svelte/tests/runtime-legacy/shared.ts
@@ -106,6 +106,7 @@ declare global {
 	var __svelte:
 		| {
 				h?: Map<string, unknown>;
+				uh?: Set<string>;
 		  }
 		| undefined;
 }
@@ -125,6 +126,7 @@ beforeAll(() => {
 
 beforeEach(() => {
 	delete globalThis?.__svelte?.h;
+	delete globalThis?.__svelte?.uh;
 });
 
 afterAll(() => {
@@ -418,7 +420,7 @@ async function run_test_variant(
 			const run_hydratables_init = () => {
 				if (variant !== 'hydrate') return;
 				const script = [...document.head.querySelectorAll('script').values()].find((script) =>
-					script.textContent?.includes('(window.__svelte ??= {}).h')
+					script.textContent?.includes('const sv = window.__svelte ??= {}')
 				)?.textContent;
 				if (!script) return;
 				(0, eval)(script);
diff --git a/packages/svelte/tests/runtime-runes/samples/hydratable-error-on-missing-imperative/_config.js b/packages/svelte/tests/runtime-runes/samples/hydratable-error-on-missing-imperative/_config.js
deleted file mode 100644
index 3990b65087..0000000000
--- a/packages/svelte/tests/runtime-runes/samples/hydratable-error-on-missing-imperative/_config.js
+++ /dev/null
@@ -1,13 +0,0 @@
-import { test } from '../../test';
-
-export default test({
-	skip_no_async: true,
-	mode: ['async-server', 'hydrate'],
-
-	server_props: { environment: 'server' },
-	ssrHtml: '<p>The current environment is: server</p>',
-
-	props: { environment: 'browser' },
-
-	runtime_error: 'hydratable_missing_but_expected_e'
-});
diff --git a/packages/svelte/tests/runtime-runes/samples/hydratable-error-on-missing-imperative/main.svelte b/packages/svelte/tests/runtime-runes/samples/hydratable-error-on-missing-imperative/main.svelte
deleted file mode 100644
index 4784dd13b2..0000000000
--- a/packages/svelte/tests/runtime-runes/samples/hydratable-error-on-missing-imperative/main.svelte
+++ /dev/null
@@ -1,14 +0,0 @@
-<script lang="ts">
-	import { hydratable } from "svelte";
-
-	let { environment }: { environment: 'server' | 'browser' } = $props();
-
-	let value;
-	if (environment === 'server') {
-		value = 'server';
-	} else {
-		value = hydratable.get("environment");
-	}
-</script>
-
-<p>The current environment is: {value}</p>
diff --git a/packages/svelte/tests/runtime-runes/samples/hydratable-unused-keys/_config.js b/packages/svelte/tests/runtime-runes/samples/hydratable-unused-keys/_config.js
new file mode 100644
index 0000000000..2b0239893c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/hydratable-unused-keys/_config.js
@@ -0,0 +1,20 @@
+import { tick } from 'svelte';
+import { ok, test } from '../../test';
+
+export default test({
+	skip_no_async: true,
+	mode: ['async-server', 'hydrate'],
+
+	server_props: { environment: 'server' },
+	ssrHtml: '<div>Loading...</div>',
+
+	async test({ assert, target }) {
+		// let it hydrate and resolve the promise on the client
+		await tick();
+
+		assert.htmlEqual(
+			target.innerHTML,
+			'<div>did you ever hear the tragedy of darth plagueis the wise?</div>'
+		);
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/hydratable-unused-keys/main.svelte b/packages/svelte/tests/runtime-runes/samples/hydratable-unused-keys/main.svelte
new file mode 100644
index 0000000000..4ab4801ddf
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/hydratable-unused-keys/main.svelte
@@ -0,0 +1,19 @@
+<script lang="ts">
+	import { hydratable } from "svelte";
+
+	const { environment } = $props();
+
+	const unresolved_hydratable = hydratable(
+		"unused_key",
+		() => new Promise(
+			(res) => environment === 'server' ? undefined : res('did you ever hear the tragedy of darth plagueis the wise?')
+		)
+	);
+</script>
+
+<svelte:boundary>
+	<div>{await unresolved_hydratable}</div>
+	{#snippet pending()}
+		<div>Loading...</div>
+	{/snippet}
+</svelte:boundary>
diff --git a/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-imperative/_config.js b/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-but-ok/_config.js
similarity index 55%
rename from packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-imperative/_config.js
rename to packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-but-ok/_config.js
index 404260cc66..05de37a8bd 100644
--- a/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-imperative/_config.js
+++ b/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-but-ok/_config.js
@@ -1,6 +1,5 @@
 import { test } from '../../test';
 
 export default test({
-	mode: ['async'],
-	error: 'hydratable_clobbering'
+	mode: ['async']
 });
diff --git a/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-but-ok/_expected.html b/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-but-ok/_expected.html
new file mode 100644
index 0000000000..e69de29bb2
diff --git a/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-but-ok/main.svelte b/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-but-ok/main.svelte
new file mode 100644
index 0000000000..87a31a8359
--- /dev/null
+++ b/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-but-ok/main.svelte
@@ -0,0 +1,6 @@
+<script lang="ts">
+    import { hydratable } from 'svelte';
+
+    await hydratable('key', () => 'first');
+    await hydratable('key', () => 'first');
+</script>
\ No newline at end of file
diff --git a/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-imperative/main.svelte b/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-imperative/main.svelte
deleted file mode 100644
index 25a1166f83..0000000000
--- a/packages/svelte/tests/server-side-rendering/samples/hydratable-clobbering-imperative/main.svelte
+++ /dev/null
@@ -1,6 +0,0 @@
-<script lang="ts">
-    import { hydratable } from 'svelte';
-
-    hydratable.set('key', 'first');
-    hydratable.set('key', 'second');
-</script>
\ No newline at end of file