diff --git a/rpcs3/Emu/Cell/lv2/sys_net/lv2_socket_p2ps.cpp b/rpcs3/Emu/Cell/lv2/sys_net/lv2_socket_p2ps.cpp
index f6ae0158a1..93072c8cc1 100644
--- a/rpcs3/Emu/Cell/lv2/sys_net/lv2_socket_p2ps.cpp
+++ b/rpcs3/Emu/Cell/lv2/sys_net/lv2_socket_p2ps.cpp
@@ -1,7 +1,5 @@
 #include "stdafx.h"
 
-#include <condition_variable>
-
 #include "Utilities/Thread.h"
 #include "util/asm.hpp"
 #include "util/atomic.hpp"
@@ -37,6 +35,7 @@ public:
 
 			msgs.insert(std::make_pair(expected_time, std::move(msg)));
 		}
+		wakey.release(1);
 		wakey.notify_one(); // TODO: Should be improved to only wake if new timeout < old timeout
 	}
 
@@ -71,23 +70,22 @@ public:
 
 	void operator()()
 	{
+		atomic_wait_timeout timeout = atomic_wait_timeout::inf;
+
 		while (thread_ctrl::state() != thread_state::aborting)
 		{
-			std::unique_lock<std::mutex> lock(data_mutex);
-
-			if (thread_ctrl::state() == thread_state::aborting)
+			if (!wakey)
 			{
-				break;
+				wakey.wait(0, timeout);
 			}
 
-			if (msgs.size())
-				wakey.wait_until(lock, msgs.begin()->first);
-			else
-				wakey.wait(lock);
+			wakey = 0;
 
 			if (thread_ctrl::state() == thread_state::aborting)
 				return;
 
+			std::lock_guard lock(data_mutex);
+
 			const auto now = steady_clock::now();
 			// Check for messages that haven't been acked
 			std::set<s32> rtt_increased;
@@ -151,13 +149,30 @@ public:
 				msgs.insert(std::make_pair(now + rtt.rtt_time, std::move(msg)));
 				it = msgs.erase(it);
 			}
+
+			if (!msgs.empty())
+			{
+				const auto current_timepoint = steady_clock::now();
+				const auto expected_timepoint = msgs.begin()->first;
+				if (current_timepoint > expected_timepoint)
+				{
+					wakey = 1;
+				}
+				else
+				{
+					timeout = static_cast<atomic_wait_timeout>(std::chrono::duration_cast<std::chrono::nanoseconds>(expected_timepoint - current_timepoint).count());
+				}
+			}
+			else
+			{
+				timeout = atomic_wait_timeout::inf;
+			}
 		}
 	}
 
 	tcp_timeout_monitor& operator=(thread_state)
 	{
-		data_mutex.lock();
-		data_mutex.unlock();
+		wakey.release(1);
 		wakey.notify_one();
 		return *this;
 	}
@@ -166,8 +181,8 @@ public:
 	static constexpr auto thread_name = "Tcp Over Udp Timeout Manager Thread"sv;
 
 private:
-	std::condition_variable wakey;
-	std::mutex data_mutex;
+	atomic_t<u32> wakey;
+	shared_mutex data_mutex;
 	// List of outgoing messages
 	struct message
 	{
diff --git a/rpcs3/Emu/NP/signaling_handler.cpp b/rpcs3/Emu/NP/signaling_handler.cpp
index f161d24137..85f5558443 100644
--- a/rpcs3/Emu/NP/signaling_handler.cpp
+++ b/rpcs3/Emu/NP/signaling_handler.cpp
@@ -344,17 +344,22 @@ void signaling_handler::process_incoming_messages()
 
 void signaling_handler::operator()()
 {
+	atomic_wait_timeout timeout = atomic_wait_timeout::inf;
+
 	while (thread_ctrl::state() != thread_state::aborting)
 	{
-		std::unique_lock<std::mutex> lock(data_mutex);
-		if (!qpackets.empty())
-			wakey.wait_until(lock, qpackets.begin()->first);
-		else
-			wakey.wait(lock);
+		if (!wakey)
+		{
+			wakey.wait(0, timeout);
+		}
+
+		wakey = 0;
 
 		if (thread_ctrl::state() == thread_state::aborting)
 			return;
 
+		std::lock_guard lock(data_mutex);
+
 		process_incoming_messages();
 
 		const auto now = steady_clock::now();
@@ -416,16 +421,36 @@ void signaling_handler::operator()()
 			it++;
 			reschedule_packet(si, cmd, now + delay);
 		}
+
+		if (!qpackets.empty())
+		{
+			const auto current_timepoint = steady_clock::now();
+			const auto expected_timepoint = qpackets.begin()->first;
+			if (current_timepoint > expected_timepoint)
+			{
+				wakey = 1;
+			}
+			else
+			{
+				timeout = static_cast<atomic_wait_timeout>(std::chrono::duration_cast<std::chrono::nanoseconds>(expected_timepoint - current_timepoint).count());
+			}
+		}
+		else
+		{
+			timeout = atomic_wait_timeout::inf;
+		}
 	}
 }
 
 void signaling_handler::wake_up()
 {
+	wakey.release(1);
 	wakey.notify_one();
 }
 
 signaling_handler& signaling_handler::operator=(thread_state)
 {
+	wakey.release(1);
 	wakey.notify_one();
 	return *this;
 }
diff --git a/rpcs3/Emu/NP/signaling_handler.h b/rpcs3/Emu/NP/signaling_handler.h
index cf611ff625..3a56568177 100644
--- a/rpcs3/Emu/NP/signaling_handler.h
+++ b/rpcs3/Emu/NP/signaling_handler.h
@@ -5,7 +5,6 @@
 #include "Emu/Cell/Modules/sceNp2.h"
 #include "Utilities/Thread.h"
 #include <unordered_map>
-#include <condition_variable>
 #include <chrono>
 #include <optional>
 
@@ -134,8 +133,8 @@ private:
 	void retire_all_packets(std::shared_ptr<signaling_info>& si);
 	void stop_sig_nl(u32 conn_id);
 
-	std::mutex data_mutex;
-	std::condition_variable wakey;
+	shared_mutex data_mutex;
+	atomic_t<u32> wakey;
 
 	signaling_packet sig_packet{};