diff --git a/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/CacheLeakageCard.test.tsx b/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/CacheLeakageCard.test.tsx
index 54af13d8a90..8cb18344734 100644
--- a/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/CacheLeakageCard.test.tsx
+++ b/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/CacheLeakageCard.test.tsx
@@ -178,4 +178,28 @@ describe("CacheLeakageCard", () => {
       screen.queryByText("Data is still loading; rows and totals will update as the rest of the range arrives."),
     ).not.toBeInTheDocument();
   });
+
+  it("says which keys are missing from the key ranking when the proxy capped the per-key lists", () => {
+    const day = dayWithKeys("2026-07-12", {
+      "hash-leaky": key("leaky-key", { prompt_tokens: 10000, cache_read_input_tokens: 0 }),
+    });
+    renderWith([day], { apiKeyTruncation: { limit: 100, total: 3000 } });
+
+    expect(screen.getByRole("note")).toHaveTextContent(
+      "Only the 100 highest-spend keys of 3,000 are loaded, so a lower-spend key that leaks more is not listed here.",
+    );
+
+    fireEvent.click(screen.getByRole("tab", { name: "By model" }));
+
+    expect(screen.queryByRole("note")).not.toBeInTheDocument();
+  });
+
+  it("keeps the key ranking note off when every key was loaded", () => {
+    const day = dayWithKeys("2026-07-12", {
+      "hash-leaky": key("leaky-key", { prompt_tokens: 10000, cache_read_input_tokens: 0 }),
+    });
+    renderWith([day]);
+
+    expect(screen.queryByRole("note")).not.toBeInTheDocument();
+  });
 });
diff --git a/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/CacheLeakageCard.tsx b/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/CacheLeakageCard.tsx
index 3f27449ebe1..a0877b04648 100644
--- a/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/CacheLeakageCard.tsx
+++ b/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/CacheLeakageCard.tsx
@@ -81,7 +81,7 @@ const SortableHead = ({
 };
 
 const CacheLeakageCard: React.FC<CacheLeakageCardProps> = ({ activity }) => {
-  const { dateValue, onDateChange, results, loading, isFetchingMore } = activity;
+  const { dateValue, onDateChange, results, loading, isFetchingMore, apiKeyTruncation } = activity;
   const [dimension, setDimension] = useState<CacheLeakageDimension>("key");
   const [sort, setSort] = useState<SortState>({ column: "potentialSavings", dir: "desc" });
   const leakage = useMemo(() => computeCacheLeakage(results, dimension), [results, dimension]);
@@ -123,6 +123,13 @@ const CacheLeakageCard: React.FC<CacheLeakageCardProps> = ({ activity }) => {
           </Tabs>
         </CardHeader>
         <CardContent>
+          {dimension === "key" && apiKeyTruncation !== undefined && (
+            <p className="mb-2 text-sm text-muted-foreground" role="note">
+              Only the {apiKeyTruncation.limit.toLocaleString()} highest-spend keys of{" "}
+              {apiKeyTruncation.total.toLocaleString()} are loaded, so a lower-spend key that leaks more is not listed
+              here. Raise USAGE_TOP_API_KEYS_LIMIT on the proxy to load more keys.
+            </p>
+          )}
           {rows.length > 0 && isFetchingMore && (
             <p className="mb-2 text-sm text-muted-foreground">
               Data is still loading; rows and totals will update as the rest of the range arrives.
diff --git a/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/useDailyActivityRange.test.tsx b/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/useDailyActivityRange.test.tsx
index 00902aa9fdd..4059303d5a5 100644
--- a/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/useDailyActivityRange.test.tsx
+++ b/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/useDailyActivityRange.test.tsx
@@ -4,12 +4,13 @@ import { describe, expect, it, vi } from "vitest";
 const mockUsePaginatedDailyActivity = vi.fn();
 
 const mockCancel = vi.fn();
+let mockMetadata: Record<string, number> = {};
 
 vi.mock("@/app/(dashboard)/usage/_components/hooks/usePaginatedDailyActivity", () => ({
   usePaginatedDailyActivity: (args: unknown) => {
     mockUsePaginatedDailyActivity(args);
     return {
-      data: { results: [] },
+      data: { results: [], metadata: mockMetadata },
       loading: false,
       isFetchingMore: false,
       progress: { currentPage: 4, totalPages: 9 },
@@ -80,4 +81,18 @@ describe("useDailyActivityRange", () => {
 
     expect(mockUsePaginatedDailyActivity).toHaveBeenLastCalledWith(expect.objectContaining({ enabled: false }));
   });
+
+  it("reports how many keys the proxy left out of the per-key lists", () => {
+    mockMetadata = { api_key_limit: 100, total_api_keys: 3000 };
+    const { result } = renderHook(() => useDailyActivityRange("test-token", "u1", "proxy_admin"));
+
+    expect(result.current.apiKeyTruncation).toEqual({ limit: 100, total: 3000 });
+  });
+
+  it("reports no key truncation when every key fit under the proxy limit", () => {
+    mockMetadata = { api_key_limit: 100, total_api_keys: 100 };
+    const { result } = renderHook(() => useDailyActivityRange("test-token", "u1", "proxy_admin"));
+
+    expect(result.current.apiKeyTruncation).toBeUndefined();
+  });
 });
diff --git a/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/useDailyActivityRange.ts b/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/useDailyActivityRange.ts
index 9f793a68bf5..92dd24b8d6d 100644
--- a/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/useDailyActivityRange.ts
+++ b/ui/litellm-dashboard/src/app/(dashboard)/cost-optimization/_components/useDailyActivityRange.ts
@@ -1,6 +1,7 @@
 import { useMemo, useState } from "react";
 
 import { userDailyActivityAggregatedCall, userDailyActivityCall } from "@/components/networking";
+import { ApiKeyTruncation, getApiKeyTruncation } from "@/components/EntityUsageExport/exportBlockedReason";
 import { DailyData } from "@/components/UsagePage/types";
 import { spendScopeUserId } from "@/utils/roles";
 import { usePaginatedDailyActivity } from "@/app/(dashboard)/usage/_components/hooks/usePaginatedDailyActivity";
@@ -22,6 +23,7 @@ export interface DailyActivityRange {
   cancelled: boolean;
   failed: boolean;
   cancel: () => void;
+  apiKeyTruncation?: ApiKeyTruncation;
 }
 
 /**
@@ -78,6 +80,7 @@ export const useScopedDailyActivityRange = (
     cancelled,
     failed,
     cancel,
+    apiKeyTruncation: getApiKeyTruncation(data.metadata?.api_key_limit, data.metadata?.total_api_keys),
   };
 };