diff --git a/NEWS.md b/NEWS.md
index 3e7dc750745..a8843422fde 100644
--- a/NEWS.md
+++ b/NEWS.md
@@ -1,6 +1,19 @@
 # NEWS
 
-## v0.36.1
+## v0.38.0
+
+### What's new
+
+- A new `deployment_synced` metric is added [(#5816)](https://github.com/graphprotocol/graph-node/pull/5816)
+  that indicates whether a deployment has reached the chain head since it was deployed.
+
+  **Possible values for the metric:**
+    - `0` - means that the deployment is not synced;
+    - `1` - means that the deployment is synced;
+
+  _If a deployment is not running, the metric reports no value for that deployment._
+
+## v0.37.0
 
 ### What's new
 
diff --git a/core/src/subgraph/runner.rs b/core/src/subgraph/runner.rs
index c8a31540b80..1e0fa2d4c8e 100644
--- a/core/src/subgraph/runner.rs
+++ b/core/src/subgraph/runner.rs
@@ -205,6 +205,8 @@ where
     }
 
     async fn run_inner(mut self, break_on_restart: bool) -> Result<Self, SubgraphRunnerError> {
+        self.update_deployment_synced_metric();
+
         // If a subgraph failed for deterministic reasons, before start indexing, we first
         // revert the deployment head. It should lead to the same result since the error was
         // deterministic.
@@ -293,6 +295,8 @@ where
                         res
                     })?;
 
+                self.update_deployment_synced_metric();
+
                 // It is possible that the subgraph was unassigned, but the runner was in
                 // a retry delay state and did not observe the cancel signal.
                 if block_stream_cancel_handle.is_canceled() {
@@ -1231,6 +1235,13 @@ where
 
         Ok((mods, processed_data_sources, persisted_data_sources))
     }
+
+    fn update_deployment_synced_metric(&self) {
+        self.metrics
+            .subgraph
+            .deployment_synced
+            .record(self.inputs.store.is_deployment_synced());
+    }
 }
 
 #[derive(Debug)]
diff --git a/graph/src/components/metrics/subgraph.rs b/graph/src/components/metrics/subgraph.rs
index ba62ebf3411..6083ebb6677 100644
--- a/graph/src/components/metrics/subgraph.rs
+++ b/graph/src/components/metrics/subgraph.rs
@@ -18,6 +18,7 @@ pub struct SubgraphInstanceMetrics {
     pub firehose_connection_errors: Counter,
     pub stopwatch: StopwatchMetrics,
     pub deployment_status: DeploymentStatusMetric,
+    pub deployment_synced: DeploymentSyncedMetric,
 
     trigger_processing_duration: Box<Histogram>,
     blocks_processed_secs: Box<Counter>,
@@ -91,6 +92,8 @@ impl SubgraphInstanceMetrics {
             )
             .expect("failed to create blocks_processed_count counter");
 
+        let deployment_synced = DeploymentSyncedMetric::register(&registry, subgraph_hash);
+
         Self {
             block_trigger_count,
             block_processing_duration,
@@ -98,6 +101,7 @@ impl SubgraphInstanceMetrics {
             firehose_connection_errors,
             stopwatch,
             deployment_status,
+            deployment_synced,
             trigger_processing_duration,
             blocks_processed_secs,
             blocks_processed_count,
@@ -120,6 +124,7 @@ impl SubgraphInstanceMetrics {
         registry.unregister(self.block_trigger_count.clone());
         registry.unregister(self.trigger_processing_duration.clone());
         registry.unregister(self.block_ops_transaction_duration.clone());
+        registry.unregister(Box::new(self.deployment_synced.inner.clone()));
     }
 }
 
@@ -213,3 +218,52 @@ impl DeploymentStatusMetric {
         self.inner.set(Self::STATUS_FAILED);
     }
 }
+
+/// Indicates whether a deployment has reached the chain head since it was deployed.
+pub struct DeploymentSyncedMetric {
+    inner: IntGauge,
+
+    // If, for some reason, a deployment reports that it is synced, and then reports that it is not
+    // synced during an execution, this prevents the metric from reverting to the not synced state.
+    previously_synced: std::sync::OnceLock<()>,
+}
+
+impl DeploymentSyncedMetric {
+    const NOT_SYNCED: i64 = 0;
+    const SYNCED: i64 = 1;
+
+    /// Registers the metric.
+    pub fn register(registry: &MetricsRegistry, deployment_hash: &str) -> Self {
+        let metric = registry
+            .new_int_gauge(
+                "deployment_synced",
+                "Indicates whether a deployment has reached the chain head since it was deployed.\n\
+                 Possible values:\n\
+                 0 - deployment is not synced;\n\
+                 1 - deployment is synced;",
+                [("deployment", deployment_hash)],
+            )
+            .expect("failed to register `deployment_synced` gauge");
+
+        Self {
+            inner: metric,
+            previously_synced: std::sync::OnceLock::new(),
+        }
+    }
+
+    /// Records the current sync status of the deployment.
+    /// Will ignore all values after the first `true` is received.
+    pub fn record(&self, synced: bool) {
+        if self.previously_synced.get().is_some() {
+            return;
+        }
+
+        if synced {
+            self.inner.set(Self::SYNCED);
+            let _ = self.previously_synced.set(());
+            return;
+        }
+
+        self.inner.set(Self::NOT_SYNCED);
+    }
+}