htop
may be exactly what you're looking for.
Personally, I recently discovered something called byobu
- which gives you a handy readout on the bottom (which you can configure by pressing F9) --
And that has become my personal favorite for exactly what you're describing.
Although, you could also look into xdebug -- and use something like xdebug_memory_usage()
-- in the php script you're testing to dump info into a log file at key points in your script