diff --git a/Source/Core/DolphinLib.props b/Source/Core/DolphinLib.props
index 4ddf550edf..378ecee7c6 100644
--- a/Source/Core/DolphinLib.props
+++ b/Source/Core/DolphinLib.props
@@ -610,6 +610,7 @@
     <ClInclude Include="VideoBackends\Vulkan\CommandBufferManager.h" />
     <ClInclude Include="VideoBackends\Vulkan\Constants.h" />
     <ClInclude Include="VideoBackends\Vulkan\ObjectCache.h" />
+    <ClInclude Include="VideoBackends\Vulkan\PresentWait.h" />
     <ClInclude Include="VideoBackends\Vulkan\ShaderCompiler.h" />
     <ClInclude Include="VideoBackends\Vulkan\StagingBuffer.h" />
     <ClInclude Include="VideoBackends\Vulkan\StateTracker.h" />
@@ -1228,6 +1229,7 @@
     <ClCompile Include="VideoBackends\Software\TransformUnit.cpp" />
     <ClCompile Include="VideoBackends\Vulkan\CommandBufferManager.cpp" />
     <ClCompile Include="VideoBackends\Vulkan\ObjectCache.cpp" />
+    <ClCompile Include="VideoBackends\Vulkan\PresentWait.cpp" />
     <ClCompile Include="VideoBackends\Vulkan\ShaderCompiler.cpp" />
     <ClCompile Include="VideoBackends\Vulkan\StagingBuffer.cpp" />
     <ClCompile Include="VideoBackends\Vulkan\StateTracker.cpp" />
diff --git a/Source/Core/VideoBackends/Vulkan/CMakeLists.txt b/Source/Core/VideoBackends/Vulkan/CMakeLists.txt
index ec9e1b51cb..31a08d2843 100644
--- a/Source/Core/VideoBackends/Vulkan/CMakeLists.txt
+++ b/Source/Core/VideoBackends/Vulkan/CMakeLists.txt
@@ -4,6 +4,8 @@ add_library(videovulkan
   Constants.h
   ObjectCache.cpp
   ObjectCache.h
+  PresentWait.cpp
+  PresentWait.h
   ShaderCompiler.cpp
   ShaderCompiler.h
   StagingBuffer.cpp
diff --git a/Source/Core/VideoBackends/Vulkan/CommandBufferManager.cpp b/Source/Core/VideoBackends/Vulkan/CommandBufferManager.cpp
index 3aa05dbaf0..99a7715eb5 100644
--- a/Source/Core/VideoBackends/Vulkan/CommandBufferManager.cpp
+++ b/Source/Core/VideoBackends/Vulkan/CommandBufferManager.cpp
@@ -10,6 +10,7 @@
 #include "Common/MsgHandler.h"
 #include "Common/Thread.h"
 
+#include "VideoBackends/Vulkan/PresentWait.h"
 #include "VideoBackends/Vulkan/VulkanContext.h"
 #include "VideoCommon/Constants.h"
 
@@ -223,7 +224,7 @@ bool CommandBufferManager::CreateSubmitThread()
 {
   m_submit_thread.Reset("VK submission thread", [this](PendingCommandBufferSubmit submit) {
     SubmitCommandBuffer(submit.command_buffer_index, submit.present_swap_chain,
-                        submit.present_image_index);
+                        submit.present_image_index, submit.frame_id);
     CmdBufferResources& resources = m_command_buffers[submit.command_buffer_index];
     resources.waiting_for_submit.store(false, std::memory_order_release);
   });
@@ -317,19 +318,25 @@ void CommandBufferManager::SubmitCommandBuffer(bool submit_on_worker_thread,
     }
   }
 
+  uint64_t frame_id = 0;
+  if (present_swap_chain != VK_NULL_HANDLE)
+  {
+    frame_id = g_vulkan_context->NextPresentCount();
+  }
+
   // Submitting off-thread?
   if (m_use_threaded_submission && submit_on_worker_thread && !wait_for_completion)
   {
     resources.waiting_for_submit.store(true, std::memory_order_relaxed);
     // Push to the pending submit queue.
-    m_submit_thread.Push({present_swap_chain, present_image_index, m_current_cmd_buffer});
+    m_submit_thread.Push({present_swap_chain, present_image_index, m_current_cmd_buffer, frame_id});
   }
   else
   {
     WaitForWorkerThreadIdle();
 
     // Pass through to normal submission path.
-    SubmitCommandBuffer(m_current_cmd_buffer, present_swap_chain, present_image_index);
+    SubmitCommandBuffer(m_current_cmd_buffer, present_swap_chain, present_image_index, frame_id);
     if (wait_for_completion)
       WaitForCommandBufferCompletion(m_current_cmd_buffer);
   }
@@ -382,7 +389,7 @@ void CommandBufferManager::SubmitCommandBuffer(bool submit_on_worker_thread,
 
 void CommandBufferManager::SubmitCommandBuffer(u32 command_buffer_index,
                                                VkSwapchainKHR present_swap_chain,
-                                               u32 present_image_index)
+                                               u32 present_image_index, u64 frame_id)
 {
   CmdBufferResources& resources = m_command_buffers[command_buffer_index];
 
@@ -439,6 +446,14 @@ void CommandBufferManager::SubmitCommandBuffer(u32 command_buffer_index,
                                      &present_image_index,
                                      nullptr};
 
+    VkPresentIdKHR present_id = {VK_STRUCTURE_TYPE_PRESENT_ID_KHR, nullptr, 1, &frame_id};
+
+    if (g_vulkan_context->SupportsPresentWait())
+    {
+      present_info.pNext = &present_id;
+      PresentQueued(frame_id, present_swap_chain);
+    }
+
     m_last_present_result = vkQueuePresentKHR(g_vulkan_context->GetPresentQueue(), &present_info);
     m_last_present_done.Set();
     if (m_last_present_result != VK_SUCCESS)
diff --git a/Source/Core/VideoBackends/Vulkan/CommandBufferManager.h b/Source/Core/VideoBackends/Vulkan/CommandBufferManager.h
index 0249097423..243c92c2f6 100644
--- a/Source/Core/VideoBackends/Vulkan/CommandBufferManager.h
+++ b/Source/Core/VideoBackends/Vulkan/CommandBufferManager.h
@@ -102,7 +102,7 @@ private:
 
   void WaitForCommandBufferCompletion(u32 command_buffer_index);
   void SubmitCommandBuffer(u32 command_buffer_index, VkSwapchainKHR present_swap_chain,
-                           u32 present_image_index);
+                           u32 present_image_index, u64 frame_id);
   void BeginCommandBuffer();
 
   VkDescriptorPool CreateDescriptorPool(u32 descriptor_sizes);
@@ -152,6 +152,7 @@ private:
     VkSwapchainKHR present_swap_chain;
     u32 present_image_index;
     u32 command_buffer_index;
+    u64 frame_id;
   };
   Common::WorkQueueThread<PendingCommandBufferSubmit> m_submit_thread;
   VkSemaphore m_present_semaphore = VK_NULL_HANDLE;
diff --git a/Source/Core/VideoBackends/Vulkan/PresentWait.cpp b/Source/Core/VideoBackends/Vulkan/PresentWait.cpp
new file mode 100644
index 0000000000..33ad7b096f
--- /dev/null
+++ b/Source/Core/VideoBackends/Vulkan/PresentWait.cpp
@@ -0,0 +1,81 @@
+// Copyright 2023 Dolphin Emulator Project
+// SPDX-License-Identifier: GPL-2.0-or-later
+
+#include "VideoBackends/Vulkan/PresentWait.h"
+
+#include <deque>
+#include <thread>
+#include <tuple>
+
+#include "Common/BlockingLoop.h"
+
+#include "VideoBackends/Vulkan/VulkanContext.h"
+#include "VideoBackends/Vulkan/VulkanLoader.h"
+
+#include "VideoCommon/PerformanceMetrics.h"
+
+#include <chrono>
+
+namespace Vulkan
+{
+
+static std::thread s_present_wait_thread;
+static Common::BlockingLoop s_present_wait_loop;
+
+static std::deque<std::tuple<u64, VkSwapchainKHR>> s_present_wait_queue;
+
+static void PresentWaitThreadFunc()
+{
+  VkDevice device = g_vulkan_context->GetDevice();
+
+  s_present_wait_loop.Run([device]() {
+    if (s_present_wait_queue.empty())
+    {
+      s_present_wait_loop.AllowSleep();
+      return;
+    }
+    u64 present_id;
+    VkSwapchainKHR swapchain;
+    std::tie(present_id, swapchain) = s_present_wait_queue.back();
+
+    auto start = std::chrono::high_resolution_clock::now();
+
+    VkResult res = vkWaitForPresentKHR(device, swapchain, present_id, 100'000'000);  // 100ms
+
+    if (res == VK_TIMEOUT)
+    {
+      WARN_LOG_FMT(VIDEO, "vkWaitForPresentKHR timed out, retrying {}", present_id);
+      return;
+    }
+
+    s_present_wait_queue.pop_back();
+
+    if (res != VK_SUCCESS)
+    {
+      LOG_VULKAN_ERROR(res, "vkWaitForPresentKHR failed: ");
+    }
+
+    if (res == VK_SUCCESS)
+    {
+      auto end = std::chrono::high_resolution_clock::now();
+      auto duration = std::chrono::duration_cast<std::chrono::microseconds>(end - start);
+      fmt::print("vkWaitForPresentKHR took {}us\n", duration.count());
+
+      g_perf_metrics.CountPresent();
+    }
+  });
+}
+
+void StartPresentWaitThread()
+{
+  fmt::print("Starting PresentWaitThread");
+  s_present_wait_thread = std::thread(PresentWaitThreadFunc);
+}
+
+void PresentQueued(u64 present_id, VkSwapchainKHR swapchain)
+{
+  s_present_wait_queue.emplace_front(std::make_tuple(present_id, swapchain));
+  s_present_wait_loop.Wakeup();
+}
+
+}  // namespace Vulkan
diff --git a/Source/Core/VideoBackends/Vulkan/PresentWait.h b/Source/Core/VideoBackends/Vulkan/PresentWait.h
new file mode 100644
index 0000000000..399f1cb8b3
--- /dev/null
+++ b/Source/Core/VideoBackends/Vulkan/PresentWait.h
@@ -0,0 +1,15 @@
+// Copyright 2023 Dolphin Emulator Project
+// SPDX-License-Identifier: GPL-2.0-or-later
+
+#pragma once
+
+#include "Common/CommonTypes.h"
+#include "VideoBackends/Vulkan/VulkanLoader.h"
+
+namespace Vulkan
+{
+
+void StartPresentWaitThread();
+void PresentQueued(u64 present_id, VkSwapchainKHR swapchain);
+
+}  // namespace Vulkan
diff --git a/Source/Core/VideoBackends/Vulkan/VKMain.cpp b/Source/Core/VideoBackends/Vulkan/VKMain.cpp
index 2eb9b34106..f362f28838 100644
--- a/Source/Core/VideoBackends/Vulkan/VKMain.cpp
+++ b/Source/Core/VideoBackends/Vulkan/VKMain.cpp
@@ -11,6 +11,7 @@
 #include "VideoBackends/Vulkan/CommandBufferManager.h"
 #include "VideoBackends/Vulkan/Constants.h"
 #include "VideoBackends/Vulkan/ObjectCache.h"
+#include "VideoBackends/Vulkan/PresentWait.h"
 #include "VideoBackends/Vulkan/StateTracker.h"
 #include "VideoBackends/Vulkan/VKBoundingBox.h"
 #include "VideoBackends/Vulkan/VKGfx.h"
@@ -225,6 +226,11 @@ bool VideoBackend::Initialize(const WindowSystemInfo& wsi)
       Shutdown();
       return false;
     }
+
+    if (g_vulkan_context->SupportsPresentWait())
+    {
+      StartPresentWaitThread();
+    }
   }
 
   if (!StateTracker::CreateInstance())
diff --git a/Source/Core/VideoBackends/Vulkan/VulkanContext.h b/Source/Core/VideoBackends/Vulkan/VulkanContext.h
index 1facf127d7..a183a65312 100644
--- a/Source/Core/VideoBackends/Vulkan/VulkanContext.h
+++ b/Source/Core/VideoBackends/Vulkan/VulkanContext.h
@@ -139,6 +139,9 @@ public:
 
   bool SupportsPresentWait() const { return m_device_features.present_wait.presentWait; }
 
+  // Present Count is required to be non-zero and always increasing.
+  uint64_t NextPresentCount() { return ++m_present_count; }
+
   VmaAllocator GetMemoryAllocator() const { return m_allocator; }
 
 #ifdef WIN32
@@ -180,6 +183,8 @@ private:
   bool m_supports_shader_subgroup_operations = false;
 
   std::vector<std::string> m_device_extensions;
+
+  uint64_t m_present_count = 0;
 };
 
 extern std::unique_ptr<VulkanContext> g_vulkan_context;
diff --git a/Source/Core/VideoCommon/PerformanceMetrics.cpp b/Source/Core/VideoCommon/PerformanceMetrics.cpp
index a3d41c9872..b1aa9ebd0e 100644
--- a/Source/Core/VideoCommon/PerformanceMetrics.cpp
+++ b/Source/Core/VideoCommon/PerformanceMetrics.cpp
@@ -19,6 +19,7 @@ void PerformanceMetrics::Reset()
 {
   m_fps_counter.Reset();
   m_vps_counter.Reset();
+  m_present_counter.Reset();
   m_speed_counter.Reset();
 
   m_time_sleeping = DT::zero();
@@ -36,6 +37,11 @@ void PerformanceMetrics::CountVBlank()
   m_vps_counter.Count();
 }
 
+void PerformanceMetrics::CountPresent()
+{
+  m_present_counter.Count();
+}
+
 void PerformanceMetrics::CountThrottleSleep(DT sleep)
 {
   std::unique_lock lock(m_time_lock);
@@ -178,6 +184,7 @@ void PerformanceMetrics::DrawImGuiStats(const float backbuffer_scale)
         ImPlot::SetupLegend(ImPlotLocation_SouthEast, ImPlotLegendFlags_None);
         m_vps_counter.ImPlotPlotLines("V-Blank (ms)");
         m_fps_counter.ImPlotPlotLines("Frame (ms)");
+        m_present_counter.ImPlotPlotLines("Present (ms)");
         ImPlot::EndPlot();
         ImPlot::PopStyleVar(2);
         ImPlot::PopStyleColor(2);
diff --git a/Source/Core/VideoCommon/PerformanceMetrics.h b/Source/Core/VideoCommon/PerformanceMetrics.h
index d1f4211a46..6f5aee5516 100644
--- a/Source/Core/VideoCommon/PerformanceMetrics.h
+++ b/Source/Core/VideoCommon/PerformanceMetrics.h
@@ -29,6 +29,7 @@ public:
   void Reset();
   void CountFrame();
   void CountVBlank();
+  void CountPresent();
 
   void CountThrottleSleep(DT sleep);
   void CountPerformanceMarker(Core::System& system, s64 cyclesLate);
@@ -47,6 +48,7 @@ public:
 private:
   PerformanceTracker m_fps_counter{"render_times.txt"};
   PerformanceTracker m_vps_counter{"vblank_times.txt"};
+  PerformanceTracker m_present_counter{std::nullopt};
   PerformanceTracker m_speed_counter{std::nullopt, 1000000};
 
   double m_graph_max_time = 0.0;