diff --git a/src/app/shell/RefreshButton.m.scss b/src/app/shell/RefreshButton.m.scss
index 7ab74fa840..1c1ca33ff8 100644
--- a/src/app/shell/RefreshButton.m.scss
+++ b/src/app/shell/RefreshButton.m.scss
@@ -1,4 +1,5 @@
 @use 'sass:color';
+@use 'sass:math';
 @use '../variables' as *;
 @use '../dim-ui/tooltip-mixins' as *;
 
@@ -53,3 +54,10 @@
     margin-bottom: 1em;
   }
 }
+
+.fixedIcon {
+  display: inline-block;
+  width: math.div(20em, 16); // $fa-fw-width from AppIcon
+  text-align: center;
+  line-height: 1;
+}
diff --git a/src/app/shell/RefreshButton.m.scss.d.ts b/src/app/shell/RefreshButton.m.scss.d.ts
index 4182555767..adb6944c67 100644
--- a/src/app/shell/RefreshButton.m.scss.d.ts
+++ b/src/app/shell/RefreshButton.m.scss.d.ts
@@ -3,6 +3,7 @@
 interface CssExports {
   'errorDetails': string;
   'errorTooltip': string;
+  'fixedIcon': string;
   'outOfDate': string;
   'refreshButton': string;
   'userIsPlaying': string;
diff --git a/src/app/shell/RefreshButton.tsx b/src/app/shell/RefreshButton.tsx
index beae5f19c0..786b8d7eab 100644
--- a/src/app/shell/RefreshButton.tsx
+++ b/src/app/shell/RefreshButton.tsx
@@ -16,13 +16,13 @@ import { useSelector } from 'react-redux';
 import { useSubscription } from 'use-subscription';
 import ErrorPanel from './ErrorPanel';
 import * as styles from './RefreshButton.m.scss';
-import { AppIcon, faClock, faExclamationTriangle, refreshIcon } from './icons';
+import { AppIcon, faClock, faExclamationTriangle, faHourglass, refreshIcon } from './icons';
 import { loadingTracker } from './loading-tracker';
 import { refresh } from './refresh-events';
 
 /** We consider the profile stale if it's out of date with respect to the game data by this much */
 const STALE_PROFILE_THRESHOLD = 90_000;
-const MIN_SPIN = 1000; // 1 second
+const WAIT_TIME = 1_000;
 
 export default function RefreshButton({ className }: { className?: string }) {
   const [disabled, setDisabled] = useState(false);
@@ -34,24 +34,33 @@ export default function RefreshButton({ className }: { className?: string }) {
   );
   const active = useSubscription(loadingTracker.active$);
 
-  // Always show the spinner for at least MIN_SPIN milliseconds
-  const [spin, setSpin] = useState(active ? Date.now() : 0);
+  // Track the minted date to detect if a refresh brought new data
+  const [lastMintedDate, setLastMintedDate] = useState(new Date(-1));
+  const [showHourglass, setShowHourglass] = useState(false);
+  const [wasRecentlyActive, setWasRecentlyActive] = useState(false);
+
+  const profileMintedDate = useSelector(profileMintedSelector);
+
   useEffect(() => {
-    if (active && spin === 0) {
-      setSpin(Date.now());
-    } else if (!active && spin !== 0) {
-      const elapsed = Date.now() - spin;
-      const remainingTime = Math.max(0, MIN_SPIN - elapsed);
-      if (remainingTime > 0) {
+    if (active && !wasRecentlyActive) {
+      // Refresh just started
+      setWasRecentlyActive(true);
+    } else if (!active && wasRecentlyActive) {
+      // Refresh just completed - check if we got new data
+      if (profileMintedDate.getTime() === lastMintedDate.getTime()) {
+        // No new data from this refresh - show hourglass
+        setShowHourglass(true);
         const timer = window.setTimeout(() => {
-          setSpin(0);
-        }, remainingTime);
+          setShowHourglass(false);
+        }, WAIT_TIME);
         return () => window.clearTimeout(timer);
       } else {
-        setSpin(0);
+        // New data received - update our tracking
+        setLastMintedDate(profileMintedDate);
       }
+      setWasRecentlyActive(false);
     }
-  }, [active, spin]);
+  }, [active, profileMintedDate, lastMintedDate, wasRecentlyActive]);
 
   useEventBusListener(isDragging$, handleChanges);
 
@@ -80,7 +89,9 @@ export default function RefreshButton({ className }: { className?: string }) {
         title={t('Header.Refresh') + (autoRefresh ? `\n${t('Header.AutoRefresh')}` : '')}
         aria-keyshortcuts="R"
       >
-        <AppIcon icon={refreshIcon} spinning={spin !== 0} />
+        {(showHourglass && (
+          <AppIcon className={styles.fixedIcon} icon={faHourglass} fading={true} />
+        )) || <AppIcon className={styles.fixedIcon} icon={refreshIcon} spinning={active} />}
         {autoRefresh && <div className={styles.userIsPlaying} />}
         {(profileError || showOutOfDateWarning) && (
           <div className={styles.outOfDate}>
diff --git a/src/app/shell/icons/AppIcon.tsx b/src/app/shell/icons/AppIcon.tsx
index ca6d04748d..e7371b0f4e 100644
--- a/src/app/shell/icons/AppIcon.tsx
+++ b/src/app/shell/icons/AppIcon.tsx
@@ -10,17 +10,25 @@ function AppIcon({
   title,
   spinning,
   ariaHidden,
+  fading,
 }: {
   icon: string | IconDefinition;
   className?: string;
   title?: string;
   spinning?: boolean;
   ariaHidden?: boolean;
+  fading?: boolean;
 }) {
   if (typeof icon === 'string') {
     return (
       <span
-        className={clsx(icon, 'app-icon', className, spinning ? 'fa-spin' : false)}
+        className={clsx(
+          icon,
+          'app-icon',
+          className,
+          spinning ? 'fa-spin' : false,
+          fading ? 'fa-fade' : false,
+        )}
         title={title}
         aria-hidden={ariaHidden}
       />
@@ -33,6 +41,7 @@ function AppIcon({
         icon={icon}
         title={title}
         spin={spinning}
+        fade={fading}
       />
     );
   }
diff --git a/src/app/shell/icons/Library.js b/src/app/shell/icons/Library.js
index 39df537991..ef1b64d94a 100644
--- a/src/app/shell/icons/Library.js
+++ b/src/app/shell/icons/Library.js
@@ -96,3 +96,4 @@ export const lessThanIcon = 'fas fa-less-than-equal';
 export const equalsIcon = 'fas fa-equals';
 export const stackIcon = 'fas fa-layer-group';
 export const slashIcon = 'fas fa-slash';
+export const faHourglass = 'fas fa-hourglass';
diff --git a/src/app/shell/icons/font-awesome.scss b/src/app/shell/icons/font-awesome.scss
index 73ceaf0f1d..cc79a5dce3 100644
--- a/src/app/shell/icons/font-awesome.scss
+++ b/src/app/shell/icons/font-awesome.scss
@@ -117,6 +117,9 @@
 .fa-th:before {
   content: fa-content($fa-var-th);
 }
+.fa-hourglass:before {
+  content: fa-content($fa-var-hourglass);
+}
 .fa-list:before {
   content: fa-content($fa-var-list);
 }
diff --git a/src/data/webfonts/fa-solid-900.ttf b/src/data/webfonts/fa-solid-900.ttf
index 9d62a092f1..d387881387 100644
Binary files a/src/data/webfonts/fa-solid-900.ttf and b/src/data/webfonts/fa-solid-900.ttf differ
diff --git a/src/data/webfonts/fa-solid-900.woff2 b/src/data/webfonts/fa-solid-900.woff2
index f1cf9d66ac..0b1e208a9a 100644
Binary files a/src/data/webfonts/fa-solid-900.woff2 and b/src/data/webfonts/fa-solid-900.woff2 differ