To answer the question you ask, there is no way to say a priori which of your two forms is faster. However, your second form will probably result in the functions and macros found in "includes.cl" being executed faster.
More to the point though, just like you would not recompile a C
library every time you link something against it, you should not recompile a Lisp
library before every load
.
At the very least you should be using something like load-compile-maybe
or a Lisp analogue of make, such as asdf.
EDIT: you are using SBCL which does not have an interpreter, only a compiler. This means that all code is compiled before is it executed, so the two forms in your question are equivalent. However, the bulk of the cost is in compile-file
, not in load
, so it is a very good idea to compile the file once and then load it using (load "includes")
(note the lack of file type, AKA, extension).