diff --git a/p2p/kademlia.py b/p2p/kademlia.py
index dcf6fa5f13..c445bec2a9 100644
--- a/p2p/kademlia.py
+++ b/p2p/kademlia.py
@@ -1,19 +1,21 @@
+from functools import total_ordering
+from urllib import parse as urlparse
 import asyncio
+import bisect
+import contextlib
 import ipaddress
 import logging
-import bisect
 import operator
 import random
 import struct
 import time
-from urllib import parse as urlparse
-from functools import total_ordering
 from typing import (  # noqa: F401
     Any,
     Callable,
     cast,
     Dict,
     Generator,
+    Iterator,
     List,
     Set,
     Sized,
@@ -401,6 +403,15 @@ def update_routing_table(self, node: Node) -> None:
             # replacement cache.
             asyncio.ensure_future(self.bond(eviction_candidate, self.wire.cancel_token))
 
+    @contextlib.contextmanager
+    def _ping_callback_event(self, remote: Node) -> Iterator[asyncio.Event]:
+        event = asyncio.Event()
+        self.ping_callbacks[remote] = event.set
+        try:
+            yield event
+        finally:
+            del self.ping_callbacks[remote]
+
     async def wait_ping(self, remote: Node, cancel_token: CancelToken) -> bool:
         """Wait for a ping from the given remote.
 
@@ -412,17 +423,15 @@ async def wait_ping(self, remote: Node, cancel_token: CancelToken) -> bool:
             raise AlreadyWaiting(
                 "There's another coroutine waiting for a ping packet from {}".format(remote))
 
-        event = asyncio.Event()
-        self.ping_callbacks[remote] = event.set
-        got_ping = False
-        try:
-            got_ping = await wait_with_token(
-                event.wait(), token=cancel_token, timeout=k_request_timeout)
-            self.logger.debug('got expected ping from %s', remote)
-        except TimeoutError:
-            self.logger.debug('timed out waiting for ping from %s', remote)
-        # TODO: Use a contextmanager to ensure we always delete the callback from the list.
-        del self.ping_callbacks[remote]
+        with self._ping_callback_event(remote) as event:
+            try:
+                got_ping = await wait_with_token(
+                    event.wait(), token=cancel_token, timeout=k_request_timeout)
+                self.logger.debug('got expected ping from %s', remote)
+            except TimeoutError:
+                got_ping = False
+                self.logger.debug('timed out waiting for ping from %s', remote)
+
         return got_ping
 
     async def wait_pong(self, remote: Node, token: bytes, cancel_token: CancelToken) -> bool:
@@ -486,6 +495,7 @@ def process(response):
     def ping(self, node: Node) -> bytes:
         if node == self.this_node:
             raise ValueError("Cannot ping self")
+
         return self.wire.send_ping(node)
 
     async def bond(self, node: Node, cancel_token: CancelToken) -> bool:
@@ -496,6 +506,9 @@ async def bond(self, node: Node, cancel_token: CancelToken) -> bool:
         """
         if node in self.routing:
             return True
+        elif node in self.ping_callbacks:
+            self.logger.debug("bonding failed, already waiting for pong from: %s", node)
+            return False
 
         token = self.ping(node)
 
@@ -511,7 +524,11 @@ async def bond(self, node: Node, cancel_token: CancelToken) -> bool:
         # Give the remote node a chance to ping us before we move on and start sending find_node
         # requests. It is ok for wait_ping() to timeout and return false here as that just means
         # the remote remembers us.
-        await self.wait_ping(node, cancel_token)
+        try:
+            await self.wait_ping(node, cancel_token)
+        except AlreadyWaiting:
+            self.logger.debug("bonding failed, already waiting for pong from %s", node)
+            return False
 
         self.logger.debug("bonding completed successfully with %s", node)
         self.update_routing_table(node)