diff --git a/web3/contract/async_contract.py b/web3/contract/async_contract.py
index b661f41e72..d77d476a50 100644
--- a/web3/contract/async_contract.py
+++ b/web3/contract/async_contract.py
@@ -23,7 +23,6 @@
     abi_to_signature,
     get_abi_input_names,
     get_abi_input_types,
-    get_all_function_abis,
 )
 from eth_utils.toolz import (
     partial,
@@ -588,7 +587,11 @@ def __init__(self, address: Optional[ChecksumAddress] = None) -> None:
             self.abi, self.w3, self.address, decode_tuples=self.decode_tuples
         )
         self.caller = AsyncContractCaller(
-            self.abi, self.w3, self.address, decode_tuples=self.decode_tuples
+            self.abi,
+            self.w3,
+            self.address,
+            decode_tuples=self.decode_tuples,
+            contract_functions=self.functions,
         )
         self.events = AsyncContractEvents(self.abi, self.w3, self.address)
         self.fallback = AsyncContract.get_fallback_function(
@@ -720,6 +723,7 @@ def __init__(
         block_identifier: BlockIdentifier = None,
         ccip_read_enabled: Optional[bool] = None,
         decode_tuples: Optional[bool] = False,
+        contract_functions: Optional[AsyncContractFunctions] = None,
     ) -> None:
         super().__init__(abi, w3, address, decode_tuples=decode_tuples)
 
@@ -727,18 +731,13 @@ def __init__(
             if transaction is None:
                 transaction = {}
 
-            self._functions = get_all_function_abis(self.abi)
-
-            for func in self._functions:
-                abi_signature = abi_to_signature(func)
-                fn = AsyncContractFunction.factory(
-                    abi_signature,
-                    w3=w3,
-                    contract_abi=self.abi,
-                    address=self.address,
-                    decode_tuples=decode_tuples,
+            if contract_functions is None:
+                contract_functions = AsyncContractFunctions(
+                    abi, w3, address, decode_tuples=decode_tuples
                 )
 
+            self._functions = contract_functions._functions
+            for fn in contract_functions.__iter__():
                 caller_method = partial(
                     self.call_function,
                     fn,
@@ -746,8 +745,7 @@ def __init__(
                     block_identifier=block_identifier,
                     ccip_read_enabled=ccip_read_enabled,
                 )
-
-                setattr(self, abi_signature, caller_method)
+                setattr(self, str(fn.abi_element_identifier), caller_method)
 
     def __call__(
         self,