diff --git a/proxy/metrics.go b/proxy/metrics.go
index a8a501f..6bc4460 100644
--- a/proxy/metrics.go
+++ b/proxy/metrics.go
@@ -17,6 +17,7 @@ var (
 	confighubErrorsCounter = metrics.NewCounter("orderflow_proxy_confighub_errors")
 
 	shareQueueInternalErrors = metrics.NewCounter("orderflow_proxy_share_queue_internal_errors")
+	apiLocalRateLimits       = metrics.NewCounter("orderflow_proxy_api_local_rate_limits")
 )
 
 const (
@@ -39,6 +40,10 @@ func incAPIDuplicateRequestsByPeer(peer string) {
 	metrics.GetOrCreateCounter(l).Inc()
 }
 
+func incAPILocalRateLimits() {
+	apiLocalRateLimits.Inc()
+}
+
 func incShareQueueTotalRequests(peer string) {
 	l := fmt.Sprintf(shareQueuePeerTotalRequestsLabel, peer)
 	metrics.GetOrCreateCounter(l).Inc()
diff --git a/proxy/receiver_api.go b/proxy/receiver_api.go
index 0645c81..fc46a2a 100644
--- a/proxy/receiver_api.go
+++ b/proxy/receiver_api.go
@@ -319,6 +319,7 @@ func (prx *ReceiverProxy) HandleParsedRequest(ctx context.Context, parsedRequest
 	if !parsedRequest.publicEndpoint {
 		err := prx.localAPIRateLimiter.Wait(ctx)
 		if err != nil {
+			incAPILocalRateLimits()
 			return errors.Join(errRateLimiting, err)
 		}
 	}