A processing device, operatively coupled with the memory device, is configured to provide a plurality of functions for accessing the memory device, wherein a function of the plurality of function receives input/output (I/O) operations from a host computing system. The processing device further determines a quality of service level of each function of the plurality of functions, and assigns to each function of the plurality of functions a corresponding function weight based on a corresponding quality of service level. The processing device also selects, for execution, a subset of the I/O operations, the subset comprising a number of I/O operations received at each function of the plurality of functions, wherein the number of I/O operations is determined according to the corresponding function weight of each function. The processing logic then executes the subset of I/O operations at the memory device.