diff --git a/backend/internal/handler/admin/dashboard_handler.go b/backend/internal/handler/admin/dashboard_handler.go
index 42d0538c9b..22c8e775b1 100644
--- a/backend/internal/handler/admin/dashboard_handler.go
+++ b/backend/internal/handler/admin/dashboard_handler.go
@@ -500,7 +500,11 @@ func (h *DashboardHandler) GetUserUsageTrend(c *gin.Context) {
 		limit = 12
 	}
 
-	trend, hit, err := h.getUserUsageTrendCached(c.Request.Context(), startTime, endTime, granularity, limit)
+	metric := c.DefaultQuery("metric", "tokens")
+	if metric != "tokens" && metric != "actual_cost" {
+		metric = "tokens"
+	}
+	trend, hit, err := h.getUserUsageTrendCached(c.Request.Context(), startTime, endTime, granularity, limit, metric)
 	if err != nil {
 		response.Error(c, 500, "Failed to get user usage trend")
 		return
diff --git a/backend/internal/handler/admin/dashboard_handler_cache_test.go b/backend/internal/handler/admin/dashboard_handler_cache_test.go
index ec88884979..357d2edf10 100644
--- a/backend/internal/handler/admin/dashboard_handler_cache_test.go
+++ b/backend/internal/handler/admin/dashboard_handler_cache_test.go
@@ -45,6 +45,7 @@ func (r *dashboardUsageRepoCacheProbe) GetUserUsageTrend(
 	startTime, endTime time.Time,
 	granularity string,
 	limit int,
+	metric string,
 ) ([]usagestats.UserUsageTrendPoint, error) {
 	r.usersTrendCalls.Add(1)
 	return []usagestats.UserUsageTrendPoint{{
@@ -115,4 +116,20 @@ func TestDashboardHandler_GetUserUsageTrend_UsesCache(t *testing.T) {
 	require.Equal(t, http.StatusOK, rec2.Code)
 	require.Equal(t, "hit", rec2.Header().Get("X-Snapshot-Cache"))
 	require.Equal(t, int32(1), repo.usersTrendCalls.Load())
+
+	for _, tc := range []struct {
+		metric, cache string
+		calls         int32
+	}{
+		{"actual_cost", "miss", 2},
+		{"actual_cost", "hit", 2},
+		{"tokens", "hit", 2},
+	} {
+		req := httptest.NewRequest(http.MethodGet, "/admin/dashboard/users-trend?start_date=2026-03-01&end_date=2026-03-07&granularity=day&limit=8&metric="+tc.metric, nil)
+		rec := httptest.NewRecorder()
+		router.ServeHTTP(rec, req)
+		require.Equal(t, http.StatusOK, rec.Code)
+		require.Equal(t, tc.cache, rec.Header().Get("X-Snapshot-Cache"))
+		require.Equal(t, tc.calls, repo.usersTrendCalls.Load())
+	}
 }
diff --git a/backend/internal/handler/admin/dashboard_query_cache.go b/backend/internal/handler/admin/dashboard_query_cache.go
index 61d38a66e9..4a6fe4e5fe 100644
--- a/backend/internal/handler/admin/dashboard_query_cache.go
+++ b/backend/internal/handler/admin/dashboard_query_cache.go
@@ -53,6 +53,7 @@ type dashboardEntityTrendCacheKey struct {
 	EndTime     string `json:"end_time"`
 	Granularity string `json:"granularity"`
 	Limit       int    `json:"limit"`
+	Metric      string `json:"metric,omitempty"`
 }
 
 func cacheStatusValue(hit bool) string {
@@ -213,15 +214,16 @@ func (h *DashboardHandler) getAPIKeyUsageTrendCached(ctx context.Context, startT
 	return trend, hit, err
 }
 
-func (h *DashboardHandler) getUserUsageTrendCached(ctx context.Context, startTime, endTime time.Time, granularity string, limit int) ([]usagestats.UserUsageTrendPoint, bool, error) {
+func (h *DashboardHandler) getUserUsageTrendCached(ctx context.Context, startTime, endTime time.Time, granularity string, limit int, metric string) ([]usagestats.UserUsageTrendPoint, bool, error) {
 	key := mustMarshalDashboardCacheKey(dashboardEntityTrendCacheKey{
 		StartTime:   startTime.UTC().Format(time.RFC3339),
 		EndTime:     endTime.UTC().Format(time.RFC3339),
 		Granularity: granularity,
 		Limit:       limit,
+		Metric:      metric,
 	})
 	entry, hit, err := dashboardUsersTrendCache.GetOrLoad(key, func() (any, error) {
-		return h.dashboardService.GetUserUsageTrend(ctx, startTime, endTime, granularity, limit)
+		return h.dashboardService.GetUserUsageTrend(ctx, startTime, endTime, granularity, limit, metric)
 	})
 	if err != nil {
 		return nil, hit, err
diff --git a/backend/internal/handler/admin/dashboard_snapshot_v2_handler.go b/backend/internal/handler/admin/dashboard_snapshot_v2_handler.go
index 1900205eaf..5e8b66ac66 100644
--- a/backend/internal/handler/admin/dashboard_snapshot_v2_handler.go
+++ b/backend/internal/handler/admin/dashboard_snapshot_v2_handler.go
@@ -243,7 +243,7 @@ func (h *DashboardHandler) buildSnapshotV2Response(
 	}
 
 	if includeUsersTrend {
-		usersTrend, _, err := h.getUserUsageTrendCached(ctx, startTime, endTime, granularity, usersTrendLimit)
+		usersTrend, _, err := h.getUserUsageTrendCached(ctx, startTime, endTime, granularity, usersTrendLimit, "tokens")
 		if err != nil {
 			return nil, errors.New("failed to get user usage trend")
 		}
diff --git a/backend/internal/repository/usage_log_repo_integration_test.go b/backend/internal/repository/usage_log_repo_integration_test.go
index b43c6d56ef..1ba7609fa4 100644
--- a/backend/internal/repository/usage_log_repo_integration_test.go
+++ b/backend/internal/repository/usage_log_repo_integration_test.go
@@ -1577,11 +1577,32 @@ func (s *UsageLogRepoSuite) TestGetUserUsageTrend() {
 	startTime := base.Add(-1 * time.Hour)
 	endTime := base.Add(48 * time.Hour)
 
-	trend, err := s.repo.GetUserUsageTrend(s.ctx, startTime, endTime, "day", 10)
+	trend, err := s.repo.GetUserUsageTrend(s.ctx, startTime, endTime, "day", 10, "tokens")
 	s.Require().NoError(err, "GetUserUsageTrend")
 	s.Require().GreaterOrEqual(len(trend), 2)
 }
 
+func (s *UsageLogRepoSuite) TestGetUserUsageTrend_SelectsTopByMetric() {
+	highTokens := mustCreateUser(s.T(), s.client, &service.User{Email: "tokens@test.com"})
+	highSpend := mustCreateUser(s.T(), s.client, &service.User{Email: "spend@test.com"})
+	tokenKey := mustCreateApiKey(s.T(), s.client, &service.APIKey{UserID: highTokens.ID, Key: "sk-trend-tokens", Name: "tokens"})
+	spendKey := mustCreateApiKey(s.T(), s.client, &service.APIKey{UserID: highSpend.ID, Key: "sk-trend-spend", Name: "spend"})
+	account := mustCreateAccount(s.T(), s.client, &service.Account{Name: "acc-trend-metric"})
+	at := time.Date(2025, 1, 15, 12, 0, 0, 0, time.UTC)
+	s.createUsageLog(highTokens, tokenKey, account, 1000, 0, 0.1, at)
+	s.createUsageLog(highSpend, spendKey, account, 10, 0, 5, at)
+	start, end := at.Add(-time.Hour), at.Add(time.Hour)
+	tokens, err := s.repo.GetUserUsageTrend(s.ctx, start, end, "day", 1, "tokens")
+	s.Require().NoError(err)
+	s.Require().Len(tokens, 1)
+	s.Require().Equal(highTokens.ID, tokens[0].UserID)
+	spend, err := s.repo.GetUserUsageTrend(s.ctx, start, end, "day", 1, "actual_cost")
+	s.Require().NoError(err)
+	s.Require().Len(spend, 1)
+	s.Require().Equal(highSpend.ID, spend[0].UserID)
+	s.Require().Equal(5.0, spend[0].ActualCost)
+}
+
 // --- GetAPIKeyUsageTrend ---
 
 func (s *UsageLogRepoSuite) TestGetAPIKeyUsageTrend() {
diff --git a/backend/internal/repository/usage_log_repo_trend.go b/backend/internal/repository/usage_log_repo_trend.go
index 0b1bbe7d91..cc7a46ffbf 100644
--- a/backend/internal/repository/usage_log_repo_trend.go
+++ b/backend/internal/repository/usage_log_repo_trend.go
@@ -82,8 +82,12 @@ func (r *usageLogRepository) GetAPIKeyUsageTrend(ctx context.Context, startTime,
 }
 
 // GetUserUsageTrend returns usage trend data grouped by user and date
-func (r *usageLogRepository) GetUserUsageTrend(ctx context.Context, startTime, endTime time.Time, granularity string, limit int) (results []UserUsageTrendPoint, err error) {
+func (r *usageLogRepository) GetUserUsageTrend(ctx context.Context, startTime, endTime time.Time, granularity string, limit int, metric string) (results []UserUsageTrendPoint, err error) {
 	dateFormat := safeDateFormat(granularity)
+	rankExpr := "SUM(input_tokens + output_tokens + cache_creation_tokens + cache_read_tokens)"
+	if metric == "actual_cost" {
+		rankExpr = "SUM(actual_cost)"
+	}
 
 	query := fmt.Sprintf(`
 		WITH top_users AS (
@@ -91,7 +95,7 @@ func (r *usageLogRepository) GetUserUsageTrend(ctx context.Context, startTime, e
 			FROM usage_logs
 			WHERE created_at >= $1 AND created_at < $2
 			GROUP BY user_id
-			ORDER BY SUM(input_tokens + output_tokens + cache_creation_tokens + cache_read_tokens) DESC
+			ORDER BY %s DESC, user_id ASC
 			LIMIT $3
 		)
 		SELECT
@@ -109,7 +113,7 @@ func (r *usageLogRepository) GetUserUsageTrend(ctx context.Context, startTime, e
 		  AND u.created_at >= $4 AND u.created_at < $5
 		GROUP BY date, u.user_id, us.email, us.username
 		ORDER BY date ASC, tokens DESC
-	`, dateFormat)
+	`, rankExpr, dateFormat)
 
 	rows, err := r.sql.QueryContext(ctx, query, startTime, endTime, limit, startTime, endTime)
 	if err != nil {
diff --git a/backend/internal/server/api_contract_test.go b/backend/internal/server/api_contract_test.go
index 219c83b149..c156073c5f 100644
--- a/backend/internal/server/api_contract_test.go
+++ b/backend/internal/server/api_contract_test.go
@@ -2652,7 +2652,7 @@ func (r *stubUsageLogRepo) GetAPIKeyUsageTrend(ctx context.Context, startTime, e
 	return nil, errors.New("not implemented")
 }
 
-func (r *stubUsageLogRepo) GetUserUsageTrend(ctx context.Context, startTime, endTime time.Time, granularity string, limit int) ([]usagestats.UserUsageTrendPoint, error) {
+func (r *stubUsageLogRepo) GetUserUsageTrend(ctx context.Context, startTime, endTime time.Time, granularity string, limit int, metric string) ([]usagestats.UserUsageTrendPoint, error) {
 	return nil, errors.New("not implemented")
 }
 
diff --git a/backend/internal/service/account_usage_service.go b/backend/internal/service/account_usage_service.go
index 3347aa328d..746cb324a2 100644
--- a/backend/internal/service/account_usage_service.go
+++ b/backend/internal/service/account_usage_service.go
@@ -53,7 +53,7 @@ type UsageLogRepository interface {
 	GetUserBreakdownStats(ctx context.Context, startTime, endTime time.Time, dim usagestats.UserBreakdownDimension, limit int) ([]usagestats.UserBreakdownItem, error)
 	GetAllGroupUsageSummary(ctx context.Context, todayStart time.Time) ([]usagestats.GroupUsageSummary, error)
 	GetAPIKeyUsageTrend(ctx context.Context, startTime, endTime time.Time, granularity string, limit int) ([]usagestats.APIKeyUsageTrendPoint, error)
-	GetUserUsageTrend(ctx context.Context, startTime, endTime time.Time, granularity string, limit int) ([]usagestats.UserUsageTrendPoint, error)
+	GetUserUsageTrend(ctx context.Context, startTime, endTime time.Time, granularity string, limit int, metric string) ([]usagestats.UserUsageTrendPoint, error)
 	GetUserSpendingRanking(ctx context.Context, startTime, endTime time.Time, limit int) (*usagestats.UserSpendingRankingResponse, error)
 	GetBatchUserUsageStats(ctx context.Context, userIDs []int64, startTime, endTime time.Time) (map[int64]*usagestats.BatchUserUsageStats, error)
 	GetBatchAPIKeyUsageStats(ctx context.Context, apiKeyIDs []int64, startTime, endTime time.Time) (map[int64]*usagestats.BatchAPIKeyUsageStats, error)
diff --git a/backend/internal/service/account_usage_service_batch_test.go b/backend/internal/service/account_usage_service_batch_test.go
index b4eb32ed27..06b9f10e00 100644
--- a/backend/internal/service/account_usage_service_batch_test.go
+++ b/backend/internal/service/account_usage_service_batch_test.go
@@ -76,7 +76,7 @@ func (r *usageBatchLogRepoStub) GetAllGroupUsageSummary(context.Context, time.Ti
 func (r *usageBatchLogRepoStub) GetAPIKeyUsageTrend(context.Context, time.Time, time.Time, string, int) ([]usagestats.APIKeyUsageTrendPoint, error) {
 	return nil, nil
 }
-func (r *usageBatchLogRepoStub) GetUserUsageTrend(context.Context, time.Time, time.Time, string, int) ([]usagestats.UserUsageTrendPoint, error) {
+func (r *usageBatchLogRepoStub) GetUserUsageTrend(context.Context, time.Time, time.Time, string, int, string) ([]usagestats.UserUsageTrendPoint, error) {
 	return nil, nil
 }
 func (r *usageBatchLogRepoStub) GetUserSpendingRanking(context.Context, time.Time, time.Time, int) (*usagestats.UserSpendingRankingResponse, error) {
diff --git a/backend/internal/service/dashboard_service.go b/backend/internal/service/dashboard_service.go
index 3c656b61f5..f0bb2b9f6e 100644
--- a/backend/internal/service/dashboard_service.go
+++ b/backend/internal/service/dashboard_service.go
@@ -392,8 +392,8 @@ func (s *DashboardService) GetAPIKeyUsageTrend(ctx context.Context, startTime, e
 	return trend, nil
 }
 
-func (s *DashboardService) GetUserUsageTrend(ctx context.Context, startTime, endTime time.Time, granularity string, limit int) ([]usagestats.UserUsageTrendPoint, error) {
-	trend, err := s.usageRepo.GetUserUsageTrend(ctx, startTime, endTime, granularity, limit)
+func (s *DashboardService) GetUserUsageTrend(ctx context.Context, startTime, endTime time.Time, granularity string, limit int, metric string) ([]usagestats.UserUsageTrendPoint, error) {
+	trend, err := s.usageRepo.GetUserUsageTrend(ctx, startTime, endTime, granularity, limit, metric)
 	if err != nil {
 		return nil, fmt.Errorf("get user usage trend: %w", err)
 	}
diff --git a/frontend/src/api/admin/dashboard.ts b/frontend/src/api/admin/dashboard.ts
index 92d9861d4f..b50be760f3 100644
--- a/frontend/src/api/admin/dashboard.ts
+++ b/frontend/src/api/admin/dashboard.ts
@@ -235,6 +235,7 @@ export async function getApiKeyUsageTrend(
 
 export interface UserTrendParams extends TrendParams {
   limit?: number
+  metric?: 'tokens' | 'actual_cost'
 }
 
 export interface UserTrendResponse {
diff --git a/frontend/src/i18n/locales/en/admin/overview.ts b/frontend/src/i18n/locales/en/admin/overview.ts
index 97f9ae9553..b2d33b20c9 100644
--- a/frontend/src/i18n/locales/en/admin/overview.ts
+++ b/frontend/src/i18n/locales/en/admin/overview.ts
@@ -50,6 +50,7 @@ export default {
       accountCost: 'Cost',
       noDataAvailable: 'No data available',
       recentUsage: 'Recent Usage',
+      actualSpending: 'Actual spending ($)',
       viewModelDistribution: 'Model Distribution',
       viewSpendingRanking: 'User Spending Ranking',
       spendingRankingTitle: 'User Spending Ranking',
diff --git a/frontend/src/i18n/locales/zh/admin/overview.ts b/frontend/src/i18n/locales/zh/admin/overview.ts
index 1e8a9887c5..56638d4bc4 100644
--- a/frontend/src/i18n/locales/zh/admin/overview.ts
+++ b/frontend/src/i18n/locales/zh/admin/overview.ts
@@ -50,6 +50,7 @@ export default {
       tokens: 'Token',
       cache: '缓存',
       recentUsage: '最近使用',
+      actualSpending: '实际消费 ($)',
       viewModelDistribution: '模型分布',
       viewSpendingRanking: '用户消费榜',
       spendingRankingTitle: '用户消费榜',
diff --git a/frontend/src/views/admin/DashboardView.vue b/frontend/src/views/admin/DashboardView.vue
index 210d17ea46..061f9e6f4b 100644
--- a/frontend/src/views/admin/DashboardView.vue
+++ b/frontend/src/views/admin/DashboardView.vue
@@ -318,9 +318,16 @@
 
           <!-- User Usage Trend (Full Width) -->
           <div class="card p-4">
-            <h3 class="mb-4 text-sm font-semibold text-gray-900 dark:text-white">
-              {{ t('admin.dashboard.recentUsage') }} (Top 12)
-            </h3>
+            <div class="mb-4 flex items-center justify-between gap-3">
+              <h3 class="text-sm font-semibold text-gray-900 dark:text-white">{{ t('admin.dashboard.recentUsage') }} (Top 12)</h3>
+              <div class="flex gap-1" role="group" :aria-label="t('admin.dashboard.recentUsage')">
+                <button v-for="metric in (['tokens', 'actual_cost'] as const)" :key="metric" type="button"
+                  class="rounded px-2 py-1 text-xs" :class="userTrendMetric === metric ? 'bg-blue-600 text-white' : 'text-gray-600 dark:text-gray-300'"
+                  :aria-pressed="userTrendMetric === metric" @click="setUserTrendMetric(metric)">
+                  {{ t(metric === 'tokens' ? 'admin.dashboard.tokens' : 'admin.dashboard.actualSpending') }}
+                </button>
+              </div>
+            </div>
             <div class="h-64">
               <div v-if="userTrendLoading" class="flex h-full items-center justify-center">
                 <LoadingSpinner size="md" />
@@ -401,6 +408,7 @@ const rankingError = ref(false)
 const trendData = ref<TrendDataPoint[]>([])
 const modelStats = ref<ModelStat[]>([])
 const userTrend = ref<UserUsageTrendPoint[]>([])
+const userTrendMetric = ref<'tokens' | 'actual_cost'>('tokens')
 const rankingItems = ref<UserSpendingRankingItem[]>([])
 const rankingTotalActualCost = ref(0)
 const rankingTotalRequests = ref(0)
@@ -476,7 +484,7 @@ const lineOptions = computed(() => ({
       },
       callbacks: {
         label: (context: any) => {
-          return `${context.dataset.label}: ${formatTokens(context.raw)}`
+          return `${context.dataset.label}: ${formatUserTrendValue(Number(context.raw))}`
         }
       }
     }
@@ -502,7 +510,7 @@ const lineOptions = computed(() => ({
         font: {
           size: 10
         },
-        callback: (value: string | number) => formatTokens(Number(value))
+        callback: (value: string | number) => formatUserTrendValue(Number(value))
       }
     }
   }
@@ -536,7 +544,7 @@ const userTrendChartData = computed(() => {
     if (!userGroups.has(key)) {
       userGroups.set(key, { name: getDisplayName(point), data: new Map() })
     }
-    userGroups.get(key)!.data.set(point.date, point.tokens)
+    userGroups.get(key)!.data.set(point.date, userTrendMetric.value === 'tokens' ? point.tokens : point.actual_cost)
   })
 
   const sortedDates = Array.from(allDates).sort()
@@ -571,6 +579,9 @@ const userTrendChartData = computed(() => {
 })
 
 // Format helpers
+const formatUserTrendValue = (value: number): string =>
+  userTrendMetric.value === 'tokens' ? formatTokens(value) : `$${formatCost(value)}`
+
 const formatTokens = (value: number | undefined): string => {
   if (value === undefined || value === null) return '0'
   if (value >= 1_000_000_000) {
@@ -679,6 +690,13 @@ const loadDashboardSnapshot = async (includeStats: boolean) => {
   }
 }
 
+const setUserTrendMetric = (metric: 'tokens' | 'actual_cost') => {
+  if (userTrendMetric.value === metric) return
+  userTrendMetric.value = metric
+  userTrend.value = []
+  loadUsersTrend()
+}
+
 const loadUsersTrend = async () => {
   const currentSeq = ++usersTrendLoadSeq
   userTrendLoading.value = true
@@ -687,7 +705,8 @@ const loadUsersTrend = async () => {
       start_date: startDate.value,
       end_date: endDate.value,
       granularity: granularity.value,
-      limit: 12
+      limit: 12,
+      metric: userTrendMetric.value
     })
     if (currentSeq !== usersTrendLoadSeq) return
     userTrend.value = response.trend || []
diff --git a/frontend/src/views/admin/__tests__/DashboardView.spec.ts b/frontend/src/views/admin/__tests__/DashboardView.spec.ts
index ded7db034f..898267e2e8 100644
--- a/frontend/src/views/admin/__tests__/DashboardView.spec.ts
+++ b/frontend/src/views/admin/__tests__/DashboardView.spec.ts
@@ -11,6 +11,10 @@ const { getSnapshotV2, getUserUsageTrend, getUserSpendingRanking } = vi.hoisted(
   getUserSpendingRanking: vi.fn()
 }))
 
+vi.mock('vue-chartjs', () => ({
+  Line: { name: 'Line', props: ['data', 'options'], template: '<div class="line-chart" />' }
+}))
+
 vi.mock('@/api/admin', () => ({
   adminAPI: {
     dashboard: {
@@ -115,6 +119,30 @@ describe('admin DashboardView', () => {
     })
   })
 
+  it('switches metrics and ignores a stale tokens response', async () => {
+    let resolveTokens!: (value: any) => void
+    getUserUsageTrend.mockImplementationOnce(() => new Promise(resolve => { resolveTokens = resolve }))
+    getUserUsageTrend.mockResolvedValueOnce({ trend: [{ date: '2026-01-01', user_id: 2, username: 'spender', email: '', requests: 1, tokens: 10, cost: 5, actual_cost: 5 }] })
+    const wrapper = mount(DashboardView, {
+      global: { stubs: {
+        AppLayout: { template: '<div><slot /></div>' }, LoadingSpinner: true,
+        Icon: true, DateRangePicker: true, Select: true, ModelDistributionChart: true,
+        TokenUsageTrend: true
+      } }
+    })
+    await flushPromises()
+    expect(getUserUsageTrend).toHaveBeenCalledWith(expect.objectContaining({ metric: 'tokens', limit: 12 }))
+    await wrapper.findAll('button').find(button => button.text() === 'admin.dashboard.actualSpending')!.trigger('click')
+    expect(getUserUsageTrend).toHaveBeenCalledWith(expect.objectContaining({ metric: 'actual_cost', limit: 12 }))
+    await flushPromises()
+    const chart = wrapper.findComponent({ name: 'Line' })
+    expect(chart.props('data').datasets[0].data).toEqual([5])
+    expect(chart.props('options').scales.y.ticks.callback(5)).toBe('$5.00')
+    resolveTokens({ trend: [{ date: '2026-01-01', user_id: 1, username: 'tokens', email: '', requests: 1, tokens: 100, cost: 1, actual_cost: 1 }] })
+    await flushPromises()
+    expect(chart.props('data').datasets[0].data).toEqual([5])
+  })
+
   it('uses last 24 hours as default dashboard range', async () => {
     mount(DashboardView, {
       global: {