A lubricating composition with improved storage stability comprising a major amount of an oil of lubricating viscosity, at least one alkali metal borate, at least one polysulfide mixture having at least 40% dihydrocarbyl tetrasulfide or higher sulfides, and at least one non-acidic phosphorus compound comprised of a trihydrocarbyl phosphate and a dihydrocarbyl dithiophosphate derivative is disclosed. In addition to improved storage stability, the composition has improved wear performance when the ratio of polysulfides is controlled.