Prompted by @josten, I ran a comparison on the two. The code is on GitHub. In short:
![user-sys](
![real](
The User+Sys time taken by `cmp -s` seemed to be a tad more than that of `diff` in most cases. However, the Real time take was pretty much arbitrary - `cmp` ahead on some, `diff` ahead on some.
**Summary:**
Any difference in performance is pure coincidence. Use whatever you wish.