diff --git a/.generator/schemas/v1/openapi.yaml b/.generator/schemas/v1/openapi.yaml
index f61f0719ac..a40d500d9e 100644
--- a/.generator/schemas/v1/openapi.yaml
+++ b/.generator/schemas/v1/openapi.yaml
@@ -9658,13 +9658,11 @@ components:
     MonitorFormulaAndFunctionCostDataSource:
       description: Data source for cost queries.
       enum:
-        - metrics
         - cloud_cost
         - datadog_usage
       example: "cloud_cost"
       type: string
       x-enum-varnames:
-        - METRICS
         - CLOUD_COST
         - DATADOG_USAGE
     MonitorFormulaAndFunctionCostQueryDefinition:
@@ -10106,6 +10104,34 @@ components:
         - DATABASE_QUERIES
         - NETWORK
         - NETWORK_PATH
+    MonitorFormulaAndFunctionMetricQueryDataSource:
+      description: Data source for metrics queries.
+      enum:
+        - metrics
+      example: "metrics"
+      type: string
+      x-enum-varnames:
+        - METRICS
+    MonitorFormulaAndFunctionMetricQueryDefinition:
+      description: A formula and functions metrics query. The `aggregator` field is required for `cost alert` monitors and not allowed for metric or query alert monitors.
+      properties:
+        aggregator:
+          $ref: "#/components/schemas/MonitorFormulaAndFunctionCostAggregator"
+        data_source:
+          $ref: "#/components/schemas/MonitorFormulaAndFunctionMetricQueryDataSource"
+        name:
+          description: Name of the query for use in formulas.
+          example: "query1"
+          type: string
+        query:
+          description: The metrics query definition.
+          example: "avg:system.cpu.user{*}"
+          type: string
+      required:
+        - name
+        - data_source
+        - query
+      type: object
     MonitorFormulaAndFunctionMetricsAggregator:
       description: Aggregator for metrics queries.
       enum:
@@ -10175,6 +10201,7 @@ components:
         - $ref: "#/components/schemas/MonitorFormulaAndFunctionDataJobsQueryDefinition"
         - $ref: "#/components/schemas/MonitorFormulaAndFunctionAggregateAugmentedQueryDefinition"
         - $ref: "#/components/schemas/MonitorFormulaAndFunctionAggregateFilteredQueryDefinition"
+        - $ref: "#/components/schemas/MonitorFormulaAndFunctionMetricQueryDefinition"
     MonitorFormulaAndFunctionReferenceTableColumn:
       additionalProperties: false
       description: A column definition for reference table queries.
diff --git a/examples/v1/monitors/CreateMonitor_2419923374.py b/examples/v1/monitors/CreateMonitor_2419923374.py
new file mode 100644
index 0000000000..000f154b26
--- /dev/null
+++ b/examples/v1/monitors/CreateMonitor_2419923374.py
@@ -0,0 +1,48 @@
+"""
+Create a monitor with a metrics formula variable returns "OK" response
+"""
+
+from os import environ
+from datadog_api_client import ApiClient, Configuration
+from datadog_api_client.v1.api.monitors_api import MonitorsApi
+from datadog_api_client.v1.model.monitor import Monitor
+from datadog_api_client.v1.model.monitor_formula_and_function_metric_query_data_source import (
+    MonitorFormulaAndFunctionMetricQueryDataSource,
+)
+from datadog_api_client.v1.model.monitor_formula_and_function_metric_query_definition import (
+    MonitorFormulaAndFunctionMetricQueryDefinition,
+)
+from datadog_api_client.v1.model.monitor_options import MonitorOptions
+from datadog_api_client.v1.model.monitor_thresholds import MonitorThresholds
+from datadog_api_client.v1.model.monitor_type import MonitorType
+
+body = Monitor(
+    name="Example-Monitor",
+    type=MonitorType.QUERY_ALERT,
+    query='formula("query1").rollup("avg").last("5m") > threshold',
+    message="some message Notify: @hipchat-channel",
+    tags=[
+        "test:examplemonitor",
+        "env:ci",
+    ],
+    options=MonitorOptions(
+        thresholds=MonitorThresholds(
+            critical_query='formula("query1").rollup("p99").last("1w").multiplier(1.5)',
+        ),
+        variables=[
+            MonitorFormulaAndFunctionMetricQueryDefinition(
+                name="query1",
+                data_source=MonitorFormulaAndFunctionMetricQueryDataSource.METRICS,
+                query="avg:system.cpu.user{*}",
+            ),
+        ],
+    ),
+)
+
+configuration = Configuration()
+configuration.access_token = environ["DD_BEARER_TOKEN"]
+with ApiClient(configuration) as api_client:
+    api_instance = MonitorsApi(api_client)
+    response = api_instance.create_monitor(body=body)
+
+    print(response)
diff --git a/src/datadog_api_client/v1/model/monitor_formula_and_function_cost_data_source.py b/src/datadog_api_client/v1/model/monitor_formula_and_function_cost_data_source.py
index e3d1cd0d6e..971ef3e893 100644
--- a/src/datadog_api_client/v1/model/monitor_formula_and_function_cost_data_source.py
+++ b/src/datadog_api_client/v1/model/monitor_formula_and_function_cost_data_source.py
@@ -16,16 +16,14 @@ class MonitorFormulaAndFunctionCostDataSource(ModelSimple):
     """
     Data source for cost queries.
 
-    :param value: Must be one of ["metrics", "cloud_cost", "datadog_usage"].
+    :param value: Must be one of ["cloud_cost", "datadog_usage"].
     :type value: str
     """
 
     allowed_values = {
-        "metrics",
         "cloud_cost",
         "datadog_usage",
     }
-    METRICS: ClassVar["MonitorFormulaAndFunctionCostDataSource"]
     CLOUD_COST: ClassVar["MonitorFormulaAndFunctionCostDataSource"]
     DATADOG_USAGE: ClassVar["MonitorFormulaAndFunctionCostDataSource"]
 
@@ -36,6 +34,5 @@ def openapi_types(_):
         }
 
 
-MonitorFormulaAndFunctionCostDataSource.METRICS = MonitorFormulaAndFunctionCostDataSource("metrics")
 MonitorFormulaAndFunctionCostDataSource.CLOUD_COST = MonitorFormulaAndFunctionCostDataSource("cloud_cost")
 MonitorFormulaAndFunctionCostDataSource.DATADOG_USAGE = MonitorFormulaAndFunctionCostDataSource("datadog_usage")
diff --git a/src/datadog_api_client/v1/model/monitor_formula_and_function_metric_query_data_source.py b/src/datadog_api_client/v1/model/monitor_formula_and_function_metric_query_data_source.py
new file mode 100644
index 0000000000..2f48f8a52f
--- /dev/null
+++ b/src/datadog_api_client/v1/model/monitor_formula_and_function_metric_query_data_source.py
@@ -0,0 +1,35 @@
+# Unless explicitly stated otherwise all files in this repository are licensed under the Apache-2.0 License.
+# This product includes software developed at Datadog (https://www.datadoghq.com/).
+# Copyright 2019-Present Datadog, Inc.
+from __future__ import annotations
+
+
+from datadog_api_client.model_utils import (
+    ModelSimple,
+    cached_property,
+)
+
+from typing import ClassVar
+
+
+class MonitorFormulaAndFunctionMetricQueryDataSource(ModelSimple):
+    """
+    Data source for metrics queries.
+
+    :param value: If omitted defaults to "metrics". Must be one of ["metrics"].
+    :type value: str
+    """
+
+    allowed_values = {
+        "metrics",
+    }
+    METRICS: ClassVar["MonitorFormulaAndFunctionMetricQueryDataSource"]
+
+    @cached_property
+    def openapi_types(_):
+        return {
+            "value": (str,),
+        }
+
+
+MonitorFormulaAndFunctionMetricQueryDataSource.METRICS = MonitorFormulaAndFunctionMetricQueryDataSource("metrics")
diff --git a/src/datadog_api_client/v1/model/monitor_formula_and_function_metric_query_definition.py b/src/datadog_api_client/v1/model/monitor_formula_and_function_metric_query_definition.py
new file mode 100644
index 0000000000..466e84def6
--- /dev/null
+++ b/src/datadog_api_client/v1/model/monitor_formula_and_function_metric_query_definition.py
@@ -0,0 +1,78 @@
+# Unless explicitly stated otherwise all files in this repository are licensed under the Apache-2.0 License.
+# This product includes software developed at Datadog (https://www.datadoghq.com/).
+# Copyright 2019-Present Datadog, Inc.
+from __future__ import annotations
+
+from typing import Union, TYPE_CHECKING
+
+from datadog_api_client.model_utils import (
+    ModelNormal,
+    cached_property,
+    unset,
+    UnsetType,
+)
+
+
+if TYPE_CHECKING:
+    from datadog_api_client.v1.model.monitor_formula_and_function_cost_aggregator import (
+        MonitorFormulaAndFunctionCostAggregator,
+    )
+    from datadog_api_client.v1.model.monitor_formula_and_function_metric_query_data_source import (
+        MonitorFormulaAndFunctionMetricQueryDataSource,
+    )
+
+
+class MonitorFormulaAndFunctionMetricQueryDefinition(ModelNormal):
+    @cached_property
+    def openapi_types(_):
+        from datadog_api_client.v1.model.monitor_formula_and_function_cost_aggregator import (
+            MonitorFormulaAndFunctionCostAggregator,
+        )
+        from datadog_api_client.v1.model.monitor_formula_and_function_metric_query_data_source import (
+            MonitorFormulaAndFunctionMetricQueryDataSource,
+        )
+
+        return {
+            "aggregator": (MonitorFormulaAndFunctionCostAggregator,),
+            "data_source": (MonitorFormulaAndFunctionMetricQueryDataSource,),
+            "name": (str,),
+            "query": (str,),
+        }
+
+    attribute_map = {
+        "aggregator": "aggregator",
+        "data_source": "data_source",
+        "name": "name",
+        "query": "query",
+    }
+
+    def __init__(
+        self_,
+        data_source: MonitorFormulaAndFunctionMetricQueryDataSource,
+        name: str,
+        query: str,
+        aggregator: Union[MonitorFormulaAndFunctionCostAggregator, UnsetType] = unset,
+        **kwargs,
+    ):
+        """
+        A formula and functions metrics query. The ``aggregator`` field is required for ``cost alert`` monitors and not allowed for metric or query alert monitors.
+
+        :param aggregator: Aggregation methods for metric queries.
+        :type aggregator: MonitorFormulaAndFunctionCostAggregator, optional
+
+        :param data_source: Data source for metrics queries.
+        :type data_source: MonitorFormulaAndFunctionMetricQueryDataSource
+
+        :param name: Name of the query for use in formulas.
+        :type name: str
+
+        :param query: The metrics query definition.
+        :type query: str
+        """
+        if aggregator is not unset:
+            kwargs["aggregator"] = aggregator
+        super().__init__(kwargs)
+
+        self_.data_source = data_source
+        self_.name = name
+        self_.query = query
diff --git a/src/datadog_api_client/v1/model/monitor_formula_and_function_query_definition.py b/src/datadog_api_client/v1/model/monitor_formula_and_function_query_definition.py
index 008af69f40..ce4c3bbda6 100644
--- a/src/datadog_api_client/v1/model/monitor_formula_and_function_query_definition.py
+++ b/src/datadog_api_client/v1/model/monitor_formula_and_function_query_definition.py
@@ -114,6 +114,9 @@ def _composed_schemas(_):
         from datadog_api_client.v1.model.monitor_formula_and_function_aggregate_filtered_query_definition import (
             MonitorFormulaAndFunctionAggregateFilteredQueryDefinition,
         )
+        from datadog_api_client.v1.model.monitor_formula_and_function_metric_query_definition import (
+            MonitorFormulaAndFunctionMetricQueryDefinition,
+        )
 
         return {
             "oneOf": [
@@ -123,5 +126,6 @@ def _composed_schemas(_):
                 MonitorFormulaAndFunctionDataJobsQueryDefinition,
                 MonitorFormulaAndFunctionAggregateAugmentedQueryDefinition,
                 MonitorFormulaAndFunctionAggregateFilteredQueryDefinition,
+                MonitorFormulaAndFunctionMetricQueryDefinition,
             ],
         }
diff --git a/src/datadog_api_client/v1/model/monitor_options.py b/src/datadog_api_client/v1/model/monitor_options.py
index d3a3e6b629..217ec07217 100644
--- a/src/datadog_api_client/v1/model/monitor_options.py
+++ b/src/datadog_api_client/v1/model/monitor_options.py
@@ -44,6 +44,9 @@
     from datadog_api_client.v1.model.monitor_formula_and_function_aggregate_filtered_query_definition import (
         MonitorFormulaAndFunctionAggregateFilteredQueryDefinition,
     )
+    from datadog_api_client.v1.model.monitor_formula_and_function_metric_query_definition import (
+        MonitorFormulaAndFunctionMetricQueryDefinition,
+    )
 
 
 class MonitorOptions(ModelNormal):
@@ -189,6 +192,7 @@ def __init__(
                     MonitorFormulaAndFunctionDataJobsQueryDefinition,
                     MonitorFormulaAndFunctionAggregateAugmentedQueryDefinition,
                     MonitorFormulaAndFunctionAggregateFilteredQueryDefinition,
+                    MonitorFormulaAndFunctionMetricQueryDefinition,
                 ]
             ],
             UnsetType,
diff --git a/src/datadog_api_client/v1/models/__init__.py b/src/datadog_api_client/v1/models/__init__.py
index cc377e132a..a5576c273b 100644
--- a/src/datadog_api_client/v1/models/__init__.py
+++ b/src/datadog_api_client/v1/models/__init__.py
@@ -602,6 +602,12 @@
 from datadog_api_client.v1.model.monitor_formula_and_function_events_data_source import (
     MonitorFormulaAndFunctionEventsDataSource,
 )
+from datadog_api_client.v1.model.monitor_formula_and_function_metric_query_data_source import (
+    MonitorFormulaAndFunctionMetricQueryDataSource,
+)
+from datadog_api_client.v1.model.monitor_formula_and_function_metric_query_definition import (
+    MonitorFormulaAndFunctionMetricQueryDefinition,
+)
 from datadog_api_client.v1.model.monitor_formula_and_function_metrics_aggregator import (
     MonitorFormulaAndFunctionMetricsAggregator,
 )
@@ -2011,6 +2017,8 @@
     "MonitorFormulaAndFunctionEventQueryGroupBy",
     "MonitorFormulaAndFunctionEventQueryGroupBySort",
     "MonitorFormulaAndFunctionEventsDataSource",
+    "MonitorFormulaAndFunctionMetricQueryDataSource",
+    "MonitorFormulaAndFunctionMetricQueryDefinition",
     "MonitorFormulaAndFunctionMetricsAggregator",
     "MonitorFormulaAndFunctionMetricsDataSource",
     "MonitorFormulaAndFunctionMetricsQueryDefinition",
diff --git a/tests/generated-test/test-runner-data/manifest.json b/tests/generated-test/test-runner-data/manifest.json
index 5b9ff71df7..8142119072 100644
--- a/tests/generated-test/test-runner-data/manifest.json
+++ b/tests/generated-test/test-runner-data/manifest.json
@@ -1519,6 +1519,13 @@
       "scenario": "Create a monitor returns \"OK\" response",
       "version": "v1"
     },
+    {
+      "feature": "Monitors",
+      "feature_file": "../../v1/features/monitors.feature",
+      "file": "v1/monitors/create-a-monitor-with-a-metrics-formula-variable-returns-ok-response.json",
+      "scenario": "Create a monitor with a metrics formula variable returns \"OK\" response",
+      "version": "v1"
+    },
     {
       "feature": "Monitors",
       "feature_file": "../../v1/features/monitors.feature",
diff --git a/tests/generated-test/test-runner-data/v1/monitors/create-a-monitor-with-a-metrics-formula-variable-returns-ok-response.json b/tests/generated-test/test-runner-data/v1/monitors/create-a-monitor-with-a-metrics-formula-variable-returns-ok-response.json
new file mode 100644
index 0000000000..151bac9cc1
--- /dev/null
+++ b/tests/generated-test/test-runner-data/v1/monitors/create-a-monitor-with-a-metrics-formula-variable-returns-ok-response.json
@@ -0,0 +1,47 @@
+{
+  "api": "Monitors",
+  "expected_status": 200,
+  "feature": "Monitors",
+  "id": "v1/Monitors/Create a monitor with a metrics formula variable returns \"OK\" response",
+  "operation_id": "CreateMonitor",
+  "request": {
+    "body": {
+      "schema": {
+        "format": null,
+        "ref": "Monitor",
+        "type": "object"
+      },
+      "source": "inline",
+      "value": {
+        "message": "some message Notify: @hipchat-channel",
+        "name": "{{ unique }}",
+        "options": {
+          "thresholds": {
+            "critical_query": "formula(\"query1\").rollup(\"p99\").last(\"1w\").multiplier(1.5)"
+          },
+          "variables": [
+            {
+              "data_source": "metrics",
+              "name": "query1",
+              "query": "avg:system.cpu.user{*}"
+            }
+          ]
+        },
+        "query": "formula(\"query1\").rollup(\"avg\").last(\"5m\") > threshold",
+        "tags": [
+          "test:{{ unique_lower_alnum }}",
+          "env:ci"
+        ],
+        "type": "query alert"
+      }
+    },
+    "content_type": "application/json",
+    "method": "POST",
+    "pagination": false,
+    "parameters": [],
+    "path": "/api/v1/monitor"
+  },
+  "scenario": "Create a monitor with a metrics formula variable returns \"OK\" response",
+  "schema_version": 1,
+  "version": "v1"
+}
diff --git a/tests/generated-test/test-server-data/v1/monitors.json b/tests/generated-test/test-server-data/v1/monitors.json
index 67cf00bca5..e057021314 100644
--- a/tests/generated-test/test-server-data/v1/monitors.json
+++ b/tests/generated-test/test-server-data/v1/monitors.json
@@ -1356,6 +1356,81 @@
       "scenario": "Create a monitor returns \"OK\" response",
       "version": "v1"
     },
+    {
+      "feature": "Monitors",
+      "frozen_at": "2026-11-02T16:34:19.974Z",
+      "interactions": [
+        {
+          "request": {
+            "body": {
+              "type": "json",
+              "value": {
+                "message": "some message Notify: @hipchat-channel",
+                "name": "Test-Create_a_monitor_with_a_metrics_formula_variable_returns_OK_response-1793637259",
+                "options": {
+                  "thresholds": {
+                    "critical_query": "formula(\"query1\").rollup(\"p99\").last(\"1w\").multiplier(1.5)"
+                  },
+                  "variables": [
+                    {
+                      "data_source": "metrics",
+                      "name": "query1",
+                      "query": "avg:system.cpu.user{*}"
+                    }
+                  ]
+                },
+                "query": "formula(\"query1\").rollup(\"avg\").last(\"5m\") > threshold",
+                "tags": [
+                  "test:testcreateamonitorwithametricsformulavariablereturnsokresponse1793637259",
+                  "env:ci"
+                ],
+                "type": "query alert"
+              }
+            },
+            "content_type": "application/json",
+            "method": "POST",
+            "path": "/api/v1/monitor",
+            "query": []
+          },
+          "response": {
+            "body": {
+              "encoding": "text",
+              "value": "{\"id\":339841166,\"org_id\":321813,\"type\":\"metric alert\",\"name\":\"Test-Create_a_monitor_with_a_metrics_formula_variable_returns_OK_response-1793637259\",\"message\":\"some message Notify: @hipchat-channel\",\"tags\":[\"test:testcreateamonitorwithametricsformulavariablereturnsokresponse1793637259\",\"env:ci\"],\"query\":\"formula(\\\"query1\\\").rollup(\\\"avg\\\").last(\\\"5m\\\") > threshold\",\"options\":{\"thresholds\":{\"critical_query\":\"formula(\\\"query1\\\").rollup(\\\"p99\\\").last(\\\"1w\\\").multiplier(1.5)\"},\"variables\":[{\"data_source\":\"metrics\",\"name\":\"query1\",\"query\":\"avg:system.cpu.user{*}\"}],\"notify_no_data\":false,\"notify_audit\":false,\"new_host_delay\":300,\"include_tags\":true,\"silenced\":{}},\"multi\":false,\"created_at\":1793637260000,\"created\":\"2026-11-02T16:34:20.286684+00:00\",\"modified\":\"2026-11-02T16:34:20.286684+00:00\",\"deleted\":null,\"priority\":null,\"restricted_roles\":null,\"restriction_policy\":null,\"draft_status\":\"published\",\"assets\":[],\"overall_state_modified\":null,\"overall_state\":\"No Data\",\"creator\":{\"name\":\"Jasmine Zhang\",\"handle\":\"jasmine.zhang@datadoghq.com\",\"email\":\"jasmine.zhang@datadoghq.com\",\"id\":72175821}}\n"
+            },
+            "headers": {
+              "content-type": "application/json"
+            },
+            "reason": "OK",
+            "status": 200
+          }
+        },
+        {
+          "request": {
+            "body": {
+              "type": "empty",
+              "value": null
+            },
+            "content_type": "",
+            "method": "DELETE",
+            "path": "/api/v1/monitor/339841166",
+            "query": []
+          },
+          "response": {
+            "body": {
+              "encoding": "text",
+              "value": "{\"deleted_monitor_id\":339841166}\n"
+            },
+            "headers": {
+              "content-type": "application/json"
+            },
+            "reason": "OK",
+            "status": 200
+          }
+        }
+      ],
+      "scenario": "Create a monitor with a metrics formula variable returns \"OK\" response",
+      "version": "v1"
+    },
     {
       "feature": "Monitors",
       "frozen_at": "2026-03-04T20:59:52.837Z",
diff --git a/tests/v1/features/monitors.feature b/tests/v1/features/monitors.feature
index fa6affa0f6..e540752e8b 100644
--- a/tests/v1/features/monitors.feature
+++ b/tests/v1/features/monitors.feature
@@ -183,6 +183,15 @@ Feature: Monitors
     And the response "type" is equal to "log alert"
     And the response "query" is equal to "logs(\"service:foo AND type:error\").index(\"main\").rollup(\"count\").by(\"source\").last(\"5m\") > 2"
 
+  @team:ddoghq/monitor-app
+  Scenario: Create a monitor with a metrics formula variable returns "OK" response
+    Given new "CreateMonitor" request
+    And body with value {"name": "{{ unique }}", "type": "query alert", "query": "formula(\"query1\").rollup(\"avg\").last(\"5m\") > threshold", "message": "some message Notify: @hipchat-channel", "tags": ["test:{{ unique_lower_alnum }}", "env:ci"], "options": {"thresholds": {"critical_query": "formula(\"query1\").rollup(\"p99\").last(\"1w\").multiplier(1.5)"}, "variables": [{"name": "query1", "data_source": "metrics", "query": "avg:system.cpu.user{*}"}]}}
+    When the request is sent
+    Then the response status is 200 OK
+    And the response "options.variables[0].data_source" is equal to "metrics"
+    And the response "options.variables[0].name" is equal to "query1"
+
   @team:ddoghq/monitor-app
   Scenario: Create a monitor with aggregate augmented query variables returns "OK" response
     Given new "CreateMonitor" request