diff --git a/src/librustc_metadata/decoder.rs b/src/librustc_metadata/decoder.rs
index 7a4d3ed657a..973ef6030a3 100644
--- a/src/librustc_metadata/decoder.rs
+++ b/src/librustc_metadata/decoder.rs
@@ -52,8 +52,11 @@ pub struct DecodeContext<'a, 'tcx: 'a> {
     cdata: Option<&'a CrateMetadata>,
     from_id_range: IdRange,
     to_id_range: IdRange,
+
     // Cache the last used filemap for translating spans as an optimization.
     last_filemap_index: usize,
+
+    lazy_state: LazyState
 }
 
 /// Abstract over the various ways one can create metadata decoders.
@@ -73,7 +76,8 @@ pub trait Metadata<'a, 'tcx>: Copy {
             tcx: self.tcx(),
             from_id_range: id_range,
             to_id_range: id_range,
-            last_filemap_index: 0
+            last_filemap_index: 0,
+            lazy_state: LazyState::NoNode
         }
     }
 }
@@ -114,13 +118,16 @@ impl<'a, 'tcx> Metadata<'a, 'tcx> for (&'a CrateMetadata, TyCtxt<'a, 'tcx, 'tcx>
 
 impl<'a, 'tcx: 'a, T: Decodable> Lazy<T> {
     pub fn decode<M: Metadata<'a, 'tcx>>(self, meta: M) -> T {
-        T::decode(&mut meta.decoder(self.position)).unwrap()
+        let mut dcx = meta.decoder(self.position);
+        dcx.lazy_state = LazyState::NodeStart(self.position);
+        T::decode(&mut dcx).unwrap()
     }
 }
 
 impl<'a, 'tcx: 'a, T: Decodable> LazySeq<T> {
     pub fn decode<M: Metadata<'a, 'tcx>>(self, meta: M) -> impl Iterator<Item=T> + 'a {
         let mut dcx = meta.decoder(self.position);
+        dcx.lazy_state = LazyState::NodeStart(self.position);
         (0..self.len).map(move |_| {
             T::decode(&mut dcx).unwrap()
         })
@@ -137,12 +144,33 @@ impl<'a, 'tcx> DecodeContext<'a, 'tcx> {
     }
 
     fn with_position<F: FnOnce(&mut Self) -> R, R>(&mut self, pos: usize, f: F) -> R {
-        let new = opaque::Decoder::new(self.opaque.data, pos);
-        let old = mem::replace(&mut self.opaque, new);
+        let new_opaque = opaque::Decoder::new(self.opaque.data, pos);
+        let old_opaque = mem::replace(&mut self.opaque, new_opaque);
+        let old_state = mem::replace(&mut self.lazy_state, LazyState::NoNode);
         let r = f(self);
-        self.opaque = old;
+        self.opaque = old_opaque;
+        self.lazy_state = old_state;
         r
     }
+
+    fn read_lazy_distance(&mut self, min_size: usize)
+                          -> Result<usize, <Self as Decoder>::Error> {
+        let distance = self.read_usize()?;
+        let position = match self.lazy_state {
+            LazyState::NoNode => {
+                bug!("read_lazy_distance: outside of a metadata node")
+            }
+            LazyState::NodeStart(start) => {
+                assert!(distance + min_size <= start);
+                start - distance - min_size
+            }
+            LazyState::Previous(last_min_end) => {
+                last_min_end + distance
+            }
+        };
+        self.lazy_state = LazyState::Previous(position + min_size);
+        Ok(position)
+    }
 }
 
 macro_rules! decoder_methods {
@@ -185,14 +213,19 @@ impl<'doc, 'tcx> Decoder for DecodeContext<'doc, 'tcx> {
 
 impl<'a, 'tcx, T> SpecializedDecoder<Lazy<T>> for DecodeContext<'a, 'tcx> {
     fn specialized_decode(&mut self) -> Result<Lazy<T>, Self::Error> {
-        Ok(Lazy::with_position(self.read_usize()?))
+        Ok(Lazy::with_position(self.read_lazy_distance(Lazy::<T>::min_size())?))
     }
 }
 
 impl<'a, 'tcx, T> SpecializedDecoder<LazySeq<T>> for DecodeContext<'a, 'tcx> {
     fn specialized_decode(&mut self) -> Result<LazySeq<T>, Self::Error> {
         let len = self.read_usize()?;
-        Ok(LazySeq::with_position_and_length(self.read_usize()?, len))
+        let position = if len == 0 {
+            0
+        } else {
+            self.read_lazy_distance(LazySeq::<T>::min_size(len))?
+        };
+        Ok(LazySeq::with_position_and_length(position, len))
     }
 }
 
diff --git a/src/librustc_metadata/encoder.rs b/src/librustc_metadata/encoder.rs
index 185aa9e3b92..0f067270b80 100644
--- a/src/librustc_metadata/encoder.rs
+++ b/src/librustc_metadata/encoder.rs
@@ -53,6 +53,7 @@ pub struct EncodeContext<'a, 'tcx: 'a> {
     reachable: &'a NodeSet,
     mir_map: &'a MirMap<'tcx>,
 
+    lazy_state: LazyState,
     type_shorthands: FnvHashMap<Ty<'tcx>, usize>,
     predicate_shorthands: FnvHashMap<ty::Predicate<'tcx>, usize>,
 }
@@ -95,14 +96,17 @@ impl<'a, 'tcx> Encoder for EncodeContext<'a, 'tcx> {
 
 impl<'a, 'tcx, T> SpecializedEncoder<Lazy<T>> for EncodeContext<'a, 'tcx> {
     fn specialized_encode(&mut self, lazy: &Lazy<T>) -> Result<(), Self::Error> {
-        self.emit_usize(lazy.position)
+        self.emit_lazy_distance(lazy.position, Lazy::<T>::min_size())
     }
 }
 
 impl<'a, 'tcx, T> SpecializedEncoder<LazySeq<T>> for EncodeContext<'a, 'tcx> {
     fn specialized_encode(&mut self, seq: &LazySeq<T>) -> Result<(), Self::Error> {
         self.emit_usize(seq.len)?;
-        self.emit_usize(seq.position)
+        if seq.len == 0 {
+            return Ok(());
+        }
+        self.emit_lazy_distance(seq.position, LazySeq::<T>::min_size(seq.len))
     }
 }
 
@@ -129,24 +133,62 @@ impl<'a, 'tcx> EncodeContext<'a, 'tcx> {
         self.opaque.position()
     }
 
-    pub fn lazy<T: Encodable>(&mut self, value: &T) -> Lazy<T> {
+    fn emit_node<F: FnOnce(&mut Self, usize) -> R, R>(&mut self, f: F) -> R {
+        assert_eq!(self.lazy_state, LazyState::NoNode);
         let pos = self.position();
-        value.encode(self).unwrap();
-        Lazy::with_position(pos)
+        self.lazy_state = LazyState::NodeStart(pos);
+        let r = f(self, pos);
+        self.lazy_state = LazyState::NoNode;
+        r
+    }
+
+    fn emit_lazy_distance(&mut self, position: usize, min_size: usize)
+                          -> Result<(), <Self as Encoder>::Error> {
+        let min_end = position + min_size;
+        let distance = match self.lazy_state {
+            LazyState::NoNode => {
+                bug!("emit_lazy_distance: outside of a metadata node")
+            }
+            LazyState::NodeStart(start) => {
+                assert!(min_end <= start);
+                start - min_end
+            }
+            LazyState::Previous(last_min_end) => {
+                assert!(last_min_end <= position);
+                position - last_min_end
+            }
+        };
+        self.lazy_state = LazyState::Previous(min_end);
+        self.emit_usize(distance)
+    }
+
+    pub fn lazy<T: Encodable>(&mut self, value: &T) -> Lazy<T> {
+        self.emit_node(|ecx, pos| {
+            value.encode(ecx).unwrap();
+
+            assert!(pos + Lazy::<T>::min_size() <= ecx.position());
+            Lazy::with_position(pos)
+        })
     }
 
     fn lazy_seq<I, T>(&mut self, iter: I) -> LazySeq<T>
     where I: IntoIterator<Item=T>, T: Encodable {
-        let pos = self.position();
-        let len = iter.into_iter().map(|value| value.encode(self).unwrap()).count();
-        LazySeq::with_position_and_length(pos, len)
+        self.emit_node(|ecx, pos| {
+            let len = iter.into_iter().map(|value| value.encode(ecx).unwrap()).count();
+
+            assert!(pos + LazySeq::<T>::min_size(len) <= ecx.position());
+            LazySeq::with_position_and_length(pos, len)
+        })
     }
 
     fn lazy_seq_ref<'b, I, T>(&mut self, iter: I) -> LazySeq<T>
     where I: IntoIterator<Item=&'b T>, T: 'b + Encodable {
-        let pos = self.position();
-        let len = iter.into_iter().map(|value| value.encode(self).unwrap()).count();
-        LazySeq::with_position_and_length(pos, len)
+        self.emit_node(|ecx, pos| {
+            let len = iter.into_iter().map(|value| value.encode(ecx).unwrap()).count();
+
+            assert!(pos + LazySeq::<T>::min_size(len) <= ecx.position());
+            LazySeq::with_position_and_length(pos, len)
+        })
     }
 
     /// Encode the given value or a previously cached shorthand.
@@ -1262,16 +1304,16 @@ impl<'a, 'tcx> EncodeContext<'a, 'tcx> {
                 None
             },
 
-            index: index,
             crate_deps: crate_deps,
             dylib_dependency_formats: dylib_dependency_formats,
-            native_libraries: native_libraries,
             lang_items: lang_items,
             lang_items_missing: lang_items_missing,
+            native_libraries: native_libraries,
+            codemap: codemap,
+            macro_defs: macro_defs,
             impls: impls,
             reachable_ids: reachable_ids,
-            macro_defs: macro_defs,
-            codemap: codemap
+            index: index,
         });
 
         let total_bytes = self.position();
@@ -1345,6 +1387,7 @@ pub fn encode_metadata<'a, 'tcx>(tcx: TyCtxt<'a, 'tcx, 'tcx>,
         cstore: cstore,
         reachable: reachable,
         mir_map: mir_map,
+        lazy_state: LazyState::NoNode,
         type_shorthands: Default::default(),
         predicate_shorthands: Default::default()
     }.encode_crate_root();
diff --git a/src/librustc_metadata/schema.rs b/src/librustc_metadata/schema.rs
index b4ea2b19bf0..956577ed8fb 100644
--- a/src/librustc_metadata/schema.rs
+++ b/src/librustc_metadata/schema.rs
@@ -52,6 +52,19 @@ pub const SHORTHAND_OFFSET: usize = 0x80;
 
 /// A value of type T referred to by its absolute position
 /// in the metadata, and which can be decoded lazily.
+///
+/// Metadata is effective a tree, encoded in post-order,
+/// and with the root's position written next to the header.
+/// That means every single `Lazy` points to some previous
+/// location in the metadata and is part of a larger node.
+///
+/// The first `Lazy` in a node is encoded as the backwards
+/// distance from the position where the containing node
+/// starts and where the `Lazy` points to, while the rest
+/// use the forward distance from the previous `Lazy`.
+/// Distances start at 1, as 0-byte nodes are invalid.
+/// Also invalid are nodes being referred in a different
+/// order than they were encoded in.
 #[must_use]
 pub struct Lazy<T> {
     pub position: usize,
@@ -65,6 +78,12 @@ impl<T> Lazy<T> {
             _marker: PhantomData
         }
     }
+
+    /// Returns the minimum encoded size of a value of type `T`.
+    // FIXME(eddyb) Give better estimates for certain types.
+    pub fn min_size() -> usize {
+        1
+    }
 }
 
 impl<T> Copy for Lazy<T> {}
@@ -77,10 +96,16 @@ impl<T> serialize::UseSpecializedDecodable for Lazy<T> {}
 
 /// A sequence of type T referred to by its absolute position
 /// in the metadata and length, and which can be decoded lazily.
+/// The sequence is a single node for the purposes of `Lazy`.
 ///
 /// Unlike `Lazy<Vec<T>>`, the length is encoded next to the
 /// position, not at the position, which means that the length
 /// doesn't need to be known before encoding all the elements.
+///
+/// If the length is 0, no position is encoded, but otherwise,
+/// the encoding is that of `Lazy`, with the distinction that
+/// the minimal distance the length of the sequence, i.e.
+/// it's assumed there's no 0-byte element in the sequence.
 #[must_use]
 pub struct LazySeq<T> {
     pub len: usize,
@@ -100,6 +125,11 @@ impl<T> LazySeq<T> {
             _marker: PhantomData
         }
     }
+
+    /// Returns the minimum encoded size of `length` values of type `T`.
+    pub fn min_size(length: usize) -> usize {
+        length
+    }
 }
 
 impl<T> Copy for LazySeq<T> {}
@@ -110,6 +140,22 @@ impl<T> Clone for LazySeq<T> {
 impl<T> serialize::UseSpecializedEncodable for LazySeq<T> {}
 impl<T> serialize::UseSpecializedDecodable for LazySeq<T> {}
 
+/// Encoding / decoding state for `Lazy` and `LazySeq`.
+#[derive(Copy, Clone, PartialEq, Eq, Debug)]
+pub enum LazyState {
+    /// Outside of a metadata node.
+    NoNode,
+
+    /// Inside a metadata node, and before any `Lazy` or `LazySeq`.
+    /// The position is that of the node itself.
+    NodeStart(usize),
+
+    /// Inside a metadata node, with a previous `Lazy` or `LazySeq`.
+    /// The position is a conservative estimate of where that
+    /// previous `Lazy` / `LazySeq` would end (see their comments).
+    Previous(usize)
+}
+
 #[derive(RustcEncodable, RustcDecodable)]
 pub struct CrateRoot {
     pub rustc_version: String,
@@ -121,16 +167,16 @@ pub struct CrateRoot {
     pub plugin_registrar_fn: Option<DefIndex>,
     pub macro_derive_registrar: Option<DefIndex>,
 
-    pub index: LazySeq<index::Index>,
     pub crate_deps: LazySeq<CrateDep>,
     pub dylib_dependency_formats: LazySeq<Option<LinkagePreference>>,
-    pub native_libraries: LazySeq<(NativeLibraryKind, String)>,
     pub lang_items: LazySeq<(DefIndex, usize)>,
     pub lang_items_missing: LazySeq<lang_items::LangItem>,
+    pub native_libraries: LazySeq<(NativeLibraryKind, String)>,
+    pub codemap: LazySeq<syntax_pos::FileMap>,
+    pub macro_defs: LazySeq<MacroDef>,
     pub impls: LazySeq<TraitImpls>,
     pub reachable_ids: LazySeq<DefIndex>,
-    pub macro_defs: LazySeq<MacroDef>,
-    pub codemap: LazySeq<syntax_pos::FileMap>
+    pub index: LazySeq<index::Index>,
 }
 
 #[derive(RustcEncodable, RustcDecodable)]