The 25-year-old joined the League One outfit earlier this month on a four-week deal.
As a result, he is due to return to Loftus Road early in December, but Ephraim has confirmed that talks between the two clubs have started regarding a fresh deal.
"I'm happy to be playing games again. I've come to a team who like to play football, although the results are not going for us at the moment," the Fulham Chronicle quotes the former England youth international as saying.
"I feel better with every game, so I'm really pleased. Hopefully I can get a few goals and some assists. My loan is up on December 7, but there's some talks ongoing and everyone seems happy to extend it."
Ephraim signed for the R's in 2008, but he has had five loan spells away from the club during that time.