diff --git a/.github/workflows/main.yml b/.github/workflows/main.yml
index d887cc699b7..9cdc7359f32 100644
--- a/.github/workflows/main.yml
+++ b/.github/workflows/main.yml
@@ -72,6 +72,7 @@ jobs:
     - run: cargo clippy --no-deps --all-features -p wasm-bindgen-macro-support -- -D warnings
     - run: cargo clippy --no-deps --all-features -p wasm-bindgen-multi-value-xform -- -D warnings
     - run: cargo clippy --no-deps --all-features -p wasm-bindgen-shared -- -D warnings
+    - run: cargo clippy --no-deps --all-features -p wasm-bindgen-test-shared -- -D warnings
     - run: cargo clippy --no-deps --all-features --target wasm32-unknown-unknown -p wasm-bindgen-test -- -D warnings
     - run: cargo clippy --no-deps --all-features -p wasm-bindgen-test-macro -- -D warnings
     - run: cargo clippy --no-deps --all-features -p wasm-bindgen-threads-xform -- -D warnings
@@ -275,6 +276,7 @@ jobs:
     - run: cargo test -p wasm-bindgen-wasm-interpreter
     - run: cargo test -p wasm-bindgen-futures
     - run: cargo test -p wasm-bindgen-shared
+    - run: cargo test -p wasm-bindgen-test-shared
 
   test_with_geckodriver:
     strategy:
diff --git a/CHANGELOG.md b/CHANGELOG.md
index f00eaaa3cb8..86c510beb34 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -40,6 +40,9 @@
 * `console.*()` calls in tests are now always intercepted by default. To show them use `--nocapture`. When shown they are always printed in-place instead of after test results, analogous to `cargo test`.
   [#4356](https://github.com/rustwasm/wasm-bindgen/pull/4356)
 
+* Replace `WASM_BINDGEN_UNSTABLE_TEST_PROFRAW_OUT` and `WASM_BINDGEN_UNSTABLE_TEST_PROFRAW_PREFIX` with parsing `LLVM_PROFILE_FILE` analogous to Rust test coverage.
+  [#4367](https://github.com/rustwasm/wasm-bindgen/pull/4367)
+
 ### Fixed
 
 - Fixed using [JavaScript keyword](https://developer.mozilla.org/en-US/docs/Web/JavaScript/Reference/Lexical_grammar#keywords) as identifiers not being handled correctly.
diff --git a/Cargo.toml b/Cargo.toml
index 57536ab1ce9..6823126426e 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -135,6 +135,7 @@ resolver = "2"
 
 [patch.crates-io]
 js-sys = { path = 'crates/js-sys' }
+minicov = { git = "https://github.com/daxpedda/minicov", branch = "module-signature" }
 wasm-bindgen = { path = '.' }
 wasm-bindgen-futures = { path = 'crates/futures' }
 web-sys = { path = 'crates/web-sys' }
diff --git a/crates/cli/Cargo.toml b/crates/cli/Cargo.toml
index 870ca4ef325..9999c931ee3 100644
--- a/crates/cli/Cargo.toml
+++ b/crates/cli/Cargo.toml
@@ -35,6 +35,7 @@ ureq = { version = "2.7", default-features = false, features = ["brotli", "gzip"
 walrus = "0.23"
 wasm-bindgen-cli-support = { path = "../cli-support", version = "=0.2.99" }
 wasm-bindgen-shared = { path = "../shared", version = "=0.2.99" }
+wasm-bindgen-test-shared = { path = "../test-shared", version = "=0.2.99" }
 
 [dev-dependencies]
 assert_cmd = "2"
diff --git a/crates/cli/src/bin/wasm-bindgen-test-runner/main.rs b/crates/cli/src/bin/wasm-bindgen-test-runner/main.rs
index a16e860fb12..d1dfdafce0b 100644
--- a/crates/cli/src/bin/wasm-bindgen-test-runner/main.rs
+++ b/crates/cli/src/bin/wasm-bindgen-test-runner/main.rs
@@ -16,7 +16,6 @@ use clap::Parser;
 use clap::ValueEnum;
 use std::env;
 use std::fs;
-use std::path::Path;
 use std::path::PathBuf;
 use std::thread;
 use wasm_bindgen_cli_support::Bindgen;
@@ -102,12 +101,6 @@ fn main() -> anyhow::Result<()> {
 
     let shell = shell::Shell::new();
 
-    let file_name = cli
-        .file
-        .file_name()
-        .map(Path::new)
-        .context("file to test is not a valid file, can't extract file name")?;
-
     // Collect all tests that the test harness is supposed to run. We assume
     // that any exported function with the prefix `__wbg_test` is a test we need
     // to execute.
@@ -276,8 +269,6 @@ fn main() -> anyhow::Result<()> {
         b.split_linked_modules(true);
     }
 
-    let coverage = coverage_args(file_name);
-
     b.debug(debug)
         .input_module(module, wasm)
         .keep_debug(false)
@@ -288,7 +279,7 @@ fn main() -> anyhow::Result<()> {
 
     match test_mode {
         TestMode::Node { no_modules } => {
-            node::execute(module, tmpdir.path(), cli, &tests, !no_modules, coverage)?
+            node::execute(module, tmpdir.path(), cli, &tests, !no_modules)?
         }
         TestMode::Deno => deno::execute(module, tmpdir.path(), cli, &tests)?,
         TestMode::Browser { .. }
@@ -310,7 +301,6 @@ fn main() -> anyhow::Result<()> {
                 &tests,
                 test_mode,
                 std::env::var("WASM_BINDGEN_TEST_NO_ORIGIN_ISOLATION").is_err(),
-                coverage,
             )
             .context("failed to spawn server")?;
             let addr = srv.server_addr();
@@ -379,28 +369,6 @@ impl TestMode {
     }
 }
 
-fn coverage_args(file_name: &Path) -> PathBuf {
-    fn generated(file_name: &Path, prefix: &str) -> String {
-        let res = format!("{prefix}{}.profraw", file_name.display());
-        res
-    }
-
-    let prefix = env::var_os("WASM_BINDGEN_UNSTABLE_TEST_PROFRAW_PREFIX")
-        .map(|s| s.to_str().unwrap().to_string())
-        .unwrap_or_default();
-
-    match env::var_os("WASM_BINDGEN_UNSTABLE_TEST_PROFRAW_OUT") {
-        Some(s) => {
-            let mut buf = PathBuf::from(s);
-            if buf.is_dir() {
-                buf.push(generated(file_name, &prefix));
-            }
-            buf
-        }
-        None => PathBuf::from(generated(file_name, &prefix)),
-    }
-}
-
 /// Possible values for the `--format` option.
 #[derive(Debug, Clone, Copy, ValueEnum)]
 enum FormatSetting {
diff --git a/crates/cli/src/bin/wasm-bindgen-test-runner/node.rs b/crates/cli/src/bin/wasm-bindgen-test-runner/node.rs
index 68249ad7da9..1282176a909 100644
--- a/crates/cli/src/bin/wasm-bindgen-test-runner/node.rs
+++ b/crates/cli/src/bin/wasm-bindgen-test-runner/node.rs
@@ -1,6 +1,7 @@
 use std::env;
 use std::fs;
-use std::path::{Path, PathBuf};
+use std::path::Path;
+use std::process;
 use std::process::Command;
 
 use anyhow::{Context, Error};
@@ -49,8 +50,18 @@ pub fn execute(
     cli: Cli,
     tests: &[String],
     module_format: bool,
-    coverage: PathBuf,
 ) -> Result<(), Error> {
+    let coverage_env = if let Ok(env) = env::var("LLVM_PROFILE_FILE") {
+        &format!("\"{env}\"")
+    } else {
+        "undefined"
+    };
+    let coverage_pid = process::id();
+    let coverage_temp_dir = env::temp_dir()
+        .to_str()
+        .map(String::from)
+        .context("failed to parse path to temporary directory")?;
+
     let mut js_to_execute = format!(
         r#"
         {exit};
@@ -68,8 +79,10 @@ pub fn execute(
             const ok = await cx.run(tests.map(n => wasm.__wasm[n]));
 
             const coverage = wasm.__wbgtest_cov_dump();
-            if (coverage !== undefined)
-                await fs.writeFile('{coverage}', coverage);
+            if (coverage !== undefined) {{
+                const path = wasm.__wbgtest_coverage_path({coverage_env}, {coverage_pid}, {coverage_temp_dir:?}, wasm.__wbgtest_module_signature());
+                await fs.writeFile(path, coverage);
+            }}
 
             if (!ok)
                 exit(1);
@@ -92,7 +105,6 @@ pub fn execute(
         } else {
             r"import fs from 'node:fs/promises'".to_string()
         },
-        coverage = coverage.display(),
         nocapture = cli.nocapture.clone(),
         console_override = SHARED_SETUP,
         args = cli.into_args(),
diff --git a/crates/cli/src/bin/wasm-bindgen-test-runner/server.rs b/crates/cli/src/bin/wasm-bindgen-test-runner/server.rs
index 88999940e52..ff1ec9e9a6e 100644
--- a/crates/cli/src/bin/wasm-bindgen-test-runner/server.rs
+++ b/crates/cli/src/bin/wasm-bindgen-test-runner/server.rs
@@ -1,8 +1,8 @@
 use std::borrow::Cow;
-use std::fs;
 use std::io::{Read, Write};
 use std::net::SocketAddr;
-use std::path::{Path, PathBuf};
+use std::path::Path;
+use std::{env, fs, process};
 
 use anyhow::{anyhow, Context, Error};
 use rouille::{Request, Response, Server};
@@ -18,14 +18,14 @@ pub(crate) fn spawn(
     tests: &[String],
     test_mode: TestMode,
     isolate_origin: bool,
-    coverage: PathBuf,
 ) -> Result<Server<impl Fn(&Request) -> Response + Send + Sync>, Error> {
     let mut js_to_execute = String::new();
 
     let cov_import = if test_mode.no_modules() {
-        "let __wbgtest_cov_dump = wasm_bindgen.__wbgtest_cov_dump;"
+        "let __wbgtest_cov_dump = wasm_bindgen.__wbgtest_cov_dump;\n\
+         let __wbgtest_module_signature = wasm_bindgen.__wbgtest_module_signature;"
     } else {
-        "__wbgtest_cov_dump,"
+        "__wbgtest_cov_dump,__wbgtest_module_signature,"
     };
     let cov_dump = r#"
         // Dump the coverage data collected during the tests
@@ -34,6 +34,9 @@ pub(crate) fn spawn(
         if (coverage !== undefined) {
             await fetch("/__wasm_bindgen/coverage", {
                 method: "POST",
+                headers: {
+                    "Module-Signature": __wbgtest_module_signature(),
+                },
                 body: coverage
             });
         }
@@ -326,7 +329,13 @@ pub(crate) fn spawn(
 
             return response;
         } else if request.url() == "/__wasm_bindgen/coverage" {
-            return if let Err(e) = handle_coverage_dump(&coverage, request) {
+            let module_signature = request
+                .header("Module-Signature")
+                .expect("sent coverage data without module signature")
+                .parse()
+                .expect("sent invalid module signature");
+
+            return if let Err(e) = handle_coverage_dump(module_signature, request) {
                 let s: &str = &format!("Failed to dump coverage: {e}");
                 log::error!("{s}");
                 let mut ret = Response::text(s);
@@ -386,9 +395,17 @@ pub(crate) fn spawn(
     }
 }
 
-fn handle_coverage_dump(profraw_path: &Path, request: &Request) -> anyhow::Result<()> {
+fn handle_coverage_dump(module_signature: u64, request: &Request) -> anyhow::Result<()> {
     // This is run after all tests are done and dumps the data received in the request
     // into a single profraw file
+    let profraw_path = wasm_bindgen_test_shared::coverage_path(
+        env::var("LLVM_PROFILE_FILE").ok().as_deref(),
+        process::id(),
+        env::temp_dir()
+            .to_str()
+            .context("failed to parse path to temporary directory")?,
+        module_signature,
+    );
     let mut profraw = std::fs::File::create(profraw_path)?;
     let mut data = Vec::new();
     if let Some(mut r_data) = request.data() {
diff --git a/crates/test-shared/Cargo.toml b/crates/test-shared/Cargo.toml
new file mode 100644
index 00000000000..5197fc6ff7f
--- /dev/null
+++ b/crates/test-shared/Cargo.toml
@@ -0,0 +1,18 @@
+[package]
+authors = ["The wasm-bindgen Developers"]
+description = """
+Shared support between wasm-bindgen-test and wasm-bindgen-test-runner, an internal
+dependency.
+"""
+documentation = "https://docs.rs/wasm-bindgen-test-shared"
+edition = "2021"
+homepage = "https://rustwasm.github.io/wasm-bindgen/"
+include = ["/LICENSE-*", "/src"]
+license = "MIT OR Apache-2.0"
+name = "wasm-bindgen-test-shared"
+repository = "https://github.com/rustwasm/wasm-bindgen/tree/master/crates/test-shared"
+rust-version = "1.57"
+version = "0.2.99"
+
+[lints]
+workspace = true
diff --git a/crates/test-shared/LICENSE-APACHE b/crates/test-shared/LICENSE-APACHE
new file mode 120000
index 00000000000..1cd601d0a3a
--- /dev/null
+++ b/crates/test-shared/LICENSE-APACHE
@@ -0,0 +1 @@
+../../LICENSE-APACHE
\ No newline at end of file
diff --git a/crates/test-shared/LICENSE-MIT b/crates/test-shared/LICENSE-MIT
new file mode 120000
index 00000000000..b2cfbdc7b0b
--- /dev/null
+++ b/crates/test-shared/LICENSE-MIT
@@ -0,0 +1 @@
+../../LICENSE-MIT
\ No newline at end of file
diff --git a/crates/test-shared/src/lib.rs b/crates/test-shared/src/lib.rs
new file mode 100644
index 00000000000..a1423287e99
--- /dev/null
+++ b/crates/test-shared/src/lib.rs
@@ -0,0 +1,80 @@
+#![doc(html_root_url = "https://docs.rs/wasm-bindgen-test-shared/0.2")]
+#![no_std]
+
+extern crate alloc;
+
+use alloc::string::{String, ToString};
+
+pub fn coverage_path(env: Option<&str>, pid: u32, tmpdir: &str, module_signature: u64) -> String {
+    let env = env.unwrap_or("default_%m_%p.profraw");
+
+    let mut path = String::new();
+    let mut chars = env.chars().enumerate().peekable();
+
+    while let Some((index, char)) = chars.next() {
+        if char != '%' {
+            path.push(char);
+            continue;
+        }
+
+        if chars.next_if(|(_, c)| *c == 'p').is_some() {
+            path.push_str(&pid.to_string())
+        } else if chars.next_if(|(_, c)| *c == 'h').is_some() {
+            path.push_str("wbgt")
+        } else if chars.next_if(|(_, c)| *c == 't').is_some() {
+            path.push_str(tmpdir)
+        } else {
+            let mut last_index = index;
+
+            loop {
+                if let Some((index, _)) = chars.next_if(|(_, c)| c.is_ascii_digit()) {
+                    last_index = index;
+                } else if chars.next_if(|(_, c)| *c == 'm').is_some() {
+                    path.push_str(&module_signature.to_string());
+                    path.push_str("_0");
+                    break;
+                } else {
+                    path.push_str(&env[index..=last_index]);
+                    break;
+                }
+            }
+        }
+    }
+
+    path
+}
+
+#[test]
+fn test() {
+    fn asssert<'a>(env: impl Into<Option<&'a str>>, result: &str) {
+        assert_eq!(coverage_path(env.into(), 123, "tmp", 456), result);
+    }
+
+    asssert(None, "default_456_0_123.profraw");
+    asssert("", "");
+    asssert("%p", "123");
+    asssert("%h", "wbgt");
+    asssert("%t", "tmp");
+    asssert("%m", "456_0");
+    asssert("%0123456789m", "456_0");
+    asssert("%", "%");
+    asssert("%%", "%%");
+    asssert("%a", "%a");
+    asssert("%0123456789", "%0123456789");
+    asssert("%0123456789p", "%0123456789p");
+    asssert("%%p", "%123");
+    asssert("%%%p", "%%123");
+    asssert("%a%p", "%a123");
+    asssert("%0123456789%p", "%0123456789123");
+    asssert("%p%", "123%");
+    asssert("%p%%", "123%%");
+    asssert("%p%a", "123%a");
+    asssert("%p%0123456789", "123%0123456789");
+    asssert("%p%0123456789p", "123%0123456789p");
+    asssert("%m%a", "456_0%a");
+    asssert("%m%0123456789", "456_0%0123456789");
+    asssert("%m%0123456789p", "456_0%0123456789p");
+    asssert("%0123456789m%a", "456_0%a");
+    asssert("%0123456789m%0123456789", "456_0%0123456789");
+    asssert("%0123456789m%0123456789p", "456_0%0123456789p");
+}
diff --git a/crates/test/Cargo.toml b/crates/test/Cargo.toml
index 004e990cac7..fb5f3e8ff47 100644
--- a/crates/test/Cargo.toml
+++ b/crates/test/Cargo.toml
@@ -19,6 +19,7 @@ js-sys = { path = '../js-sys', version = '=0.3.76', default-features = false }
 wasm-bindgen = { path = '../..', version = '=0.2.99', default-features = false }
 wasm-bindgen-futures = { path = '../futures', version = '=0.4.49', default-features = false }
 wasm-bindgen-test-macro = { path = '../test-macro', version = '=0.3.49' }
+wasm-bindgen-test-shared = { path = "../test-shared", version = "=0.2.99" }
 
 [target.'cfg(all(target_arch = "wasm32", wasm_bindgen_unstable_test_coverage))'.dependencies]
 minicov = "0.3"
diff --git a/crates/test/src/coverage.rs b/crates/test/src/coverage.rs
index 2fe38443ccf..dc24c41375c 100644
--- a/crates/test/src/coverage.rs
+++ b/crates/test/src/coverage.rs
@@ -23,3 +23,15 @@ pub fn __wbgtest_cov_dump() -> Option<Vec<u8>> {
 pub fn __wbgtest_cov_dump() -> Option<Vec<u8>> {
     None
 }
+
+#[cfg(wasm_bindgen_unstable_test_coverage)]
+#[wasm_bindgen]
+pub fn __wbgtest_module_signature() -> Option<u64> {
+    Some(minicov::module_signature())
+}
+
+#[cfg(not(wasm_bindgen_unstable_test_coverage))]
+#[wasm_bindgen]
+pub fn __wbgtest_module_signature() -> Option<u64> {
+    None
+}
diff --git a/crates/test/src/rt/node.rs b/crates/test/src/rt/node.rs
index 40e5276b3dd..bad6990b6ac 100644
--- a/crates/test/src/rt/node.rs
+++ b/crates/test/src/rt/node.rs
@@ -44,3 +44,14 @@ impl super::Formatter for Node {
         NodeError::from(err.clone()).stack()
     }
 }
+
+/// Path to use for coverage data.
+#[wasm_bindgen]
+pub fn __wbgtest_coverage_path(env: Option<String>, pid: u32, temp_dir: &str, module_signature: u64) -> String {
+    wasm_bindgen_test_shared::coverage_path(
+        env.as_deref(),
+        pid,
+        temp_dir,
+        module_signature,
+    )
+}
diff --git a/guide/src/wasm-bindgen-test/coverage.md b/guide/src/wasm-bindgen-test/coverage.md
index 4bd3e6722ce..6672cca85d3 100644
--- a/guide/src/wasm-bindgen-test/coverage.md
+++ b/guide/src/wasm-bindgen-test/coverage.md
@@ -21,12 +21,9 @@ Due to the current limitation of `llvm-cov`, we can't collect profiling symbols
 
 ### Arguments to the test runner
 
-The following environment variables can be used to control the coverage output when [executing the test runner][1]:
+Like with Rust test coverage, you can use the [`LLVM_PROFILE_FILE`][1] environment variable to specify a path for the generated `.profraw` files.
 
-- `WASM_BINDGEN_UNSTABLE_TEST_PROFRAW_OUT` to control the file name of the profraw or the directory in which it is placed. It might be necessary to provide the full path if e.g. running tests in a workspace.
-- `WASM_BINDGEN_UNSTABLE_TEST_PROFRAW_PREFIX` to add a custom prefix to the profraw files. This can be useful if you're running the tests automatically in succession.
-
-[1]: usage.html#appendix-using-wasm-bindgen-test-without-wasm-pack
+[1]: https://releases.llvm.org/19.1.0/tools/clang/docs/SourceBasedCodeCoverage.html#running-the-instrumented-program
 
 ### Target features
 
diff --git a/publish.rs b/publish.rs
index e36f3ff2a43..a955a1343c8 100644
--- a/publish.rs
+++ b/publish.rs
@@ -23,6 +23,7 @@ const CRATES_TO_PUBLISH: &[&str] = &[
     "wasm-bindgen-macro-support",
     "wasm-bindgen-macro",
     "wasm-bindgen-test-macro",
+    "wasm-bindgen-test-shared",
     "wasm-bindgen-test",
     "wasm-bindgen-wasm-interpreter",
     "wasm-bindgen-wasm-conventions",