diff --git a/public/app/plugins/datasource/loki/components/monaco-query-field/MonacoQueryField.tsx b/public/app/plugins/datasource/loki/components/monaco-query-field/MonacoQueryField.tsx
index 45cf68b77fc..1ce1c8ed76a 100644
--- a/public/app/plugins/datasource/loki/components/monaco-query-field/MonacoQueryField.tsx
+++ b/public/app/plugins/datasource/loki/components/monaco-query-field/MonacoQueryField.tsx
@@ -6,6 +6,7 @@ import { v4 as uuidv4 } from 'uuid';
 
 import { GrafanaTheme2 } from '@grafana/data';
 import { selectors } from '@grafana/e2e-selectors';
+import { parser } from '@grafana/lezer-logql';
 import { languageConfiguration, monarchlanguage } from '@grafana/monaco-logql';
 import { useTheme2, ReactMonacoEditor, Monaco, monacoTypes, MonacoEditor } from '@grafana/ui';
 
@@ -187,7 +188,8 @@ const MonacoQueryField = ({ history, onBlur, onRunQuery, initialValue, datasourc
               validateQuery(
                 query,
                 datasource.interpolateString(query, placeHolderScopedVars),
-                model.getLinesContent()
+                model.getLinesContent(),
+                parser
               ) || [];
 
             const markers = errors.map(({ error, ...boundary }) => ({
diff --git a/public/app/plugins/datasource/loki/components/monaco-query-field/monaco-completion-provider/validation.test.ts b/public/app/plugins/datasource/loki/components/monaco-query-field/monaco-completion-provider/validation.test.ts
index 837775a5c72..d11938aff2a 100644
--- a/public/app/plugins/datasource/loki/components/monaco-query-field/monaco-completion-provider/validation.test.ts
+++ b/public/app/plugins/datasource/loki/components/monaco-query-field/monaco-completion-provider/validation.test.ts
@@ -1,18 +1,20 @@
+import { parser } from '@grafana/lezer-logql';
+
 import { validateQuery } from './validation';
 
 describe('Monaco Query Validation', () => {
   test('Identifies empty queries as valid', () => {
-    expect(validateQuery('', '', [])).toBeFalsy();
+    expect(validateQuery('', '', [], parser)).toBeFalsy();
   });
 
   test('Identifies valid queries', () => {
     const query = '{place="luna"}';
-    expect(validateQuery(query, query, [])).toBeFalsy();
+    expect(validateQuery(query, query, [], parser)).toBeFalsy();
   });
 
   test('Validates logs queries', () => {
     let query = '{place="incomplete"';
-    expect(validateQuery(query, query, [query])).toEqual([
+    expect(validateQuery(query, query, [query], parser)).toEqual([
       {
         endColumn: 20,
         endLineNumber: 1,
@@ -23,7 +25,7 @@ describe('Monaco Query Validation', () => {
     ]);
 
     query = '{place="luna"} | notaparser';
-    expect(validateQuery(query, query, [query])).toEqual([
+    expect(validateQuery(query, query, [query], parser)).toEqual([
       {
         endColumn: 28,
         endLineNumber: 1,
@@ -34,7 +36,7 @@ describe('Monaco Query Validation', () => {
     ]);
 
     query = '{place="luna"} | logfmt |';
-    expect(validateQuery(query, query, [query])).toEqual([
+    expect(validateQuery(query, query, [query], parser)).toEqual([
       {
         endColumn: 26,
         endLineNumber: 1,
@@ -47,7 +49,7 @@ describe('Monaco Query Validation', () => {
 
   test('Validates metric queries', () => {
     let query = 'sum(count_over_time({place="luna" | unwrap request_time [5m])) by (level)';
-    expect(validateQuery(query, query, [query])).toEqual([
+    expect(validateQuery(query, query, [query], parser)).toEqual([
       {
         endColumn: 35,
         endLineNumber: 1,
@@ -58,7 +60,7 @@ describe('Monaco Query Validation', () => {
     ]);
 
     query = 'sum(count_over_time({place="luna"} | unwrap [5m])) by (level)';
-    expect(validateQuery(query, query, [query])).toEqual([
+    expect(validateQuery(query, query, [query], parser)).toEqual([
       {
         endColumn: 45,
         endLineNumber: 1,
@@ -69,7 +71,7 @@ describe('Monaco Query Validation', () => {
     ]);
 
     query = 'sum()';
-    expect(validateQuery(query, query, [query])).toEqual([
+    expect(validateQuery(query, query, [query], parser)).toEqual([
       {
         endColumn: 5,
         endLineNumber: 1,
@@ -88,7 +90,7 @@ describe('Monaco Query Validation', () => {
 unpack fail
 |= "a"`;
     const queryLines = query.split('\n');
-    expect(validateQuery(query, query, queryLines)).toEqual([
+    expect(validateQuery(query, query, queryLines, parser)).toEqual([
       {
         endColumn: 12,
         endLineNumber: 5,
diff --git a/public/app/plugins/datasource/loki/components/monaco-query-field/monaco-completion-provider/validation.ts b/public/app/plugins/datasource/loki/components/monaco-query-field/monaco-completion-provider/validation.ts
index 117c012876a..59b4572a767 100644
--- a/public/app/plugins/datasource/loki/components/monaco-query-field/monaco-completion-provider/validation.ts
+++ b/public/app/plugins/datasource/loki/components/monaco-query-field/monaco-completion-provider/validation.ts
@@ -1,6 +1,6 @@
 import { SyntaxNode } from '@lezer/common';
+import { LRParser } from '@lezer/lr';
 
-import { parser } from '@grafana/lezer-logql';
 import { ErrorId } from 'app/plugins/datasource/prometheus/querybuilder/shared/parsingUtils';
 
 interface ParserErrorBoundary {
@@ -26,7 +26,8 @@ interface ParseError {
 export function validateQuery(
   query: string,
   interpolatedQuery: string,
-  queryLines: string[]
+  queryLines: string[],
+  parser: LRParser
 ): ParserErrorBoundary[] | false {
   if (!query) {
     return false;
@@ -39,14 +40,14 @@ export function validateQuery(
    * have different lengths. With this, we also exclude irrelevant parser errors that are produced by
    * lezer not understanding $variables and $__variables, which usually generate 2 or 3 error SyntaxNode.
    */
-  const interpolatedErrors: ParseError[] = parseQuery(interpolatedQuery);
+  const interpolatedErrors: ParseError[] = parseQuery(interpolatedQuery, parser);
   if (!interpolatedErrors.length) {
     return false;
   }
 
   let parseErrors: ParseError[] = interpolatedErrors;
   if (query !== interpolatedQuery) {
-    const queryErrors: ParseError[] = parseQuery(query);
+    const queryErrors: ParseError[] = parseQuery(query, parser);
     parseErrors = interpolatedErrors.flatMap(
       (interpolatedError) =>
         queryErrors.filter((queryError) => interpolatedError.text === queryError.text) || interpolatedError
@@ -56,7 +57,7 @@ export function validateQuery(
   return parseErrors.map((parseError) => findErrorBoundary(query, queryLines, parseError)).filter(isErrorBoundary);
 }
 
-function parseQuery(query: string) {
+function parseQuery(query: string, parser: LRParser) {
   const parseErrors: ParseError[] = [];
   const tree = parser.parse(query);
   tree.iterate({
@@ -115,6 +116,7 @@ function isErrorBoundary(boundary: ParserErrorBoundary | null): boundary is Pars
 
 export const placeHolderScopedVars = {
   __interval: { text: '1s', value: '1s' },
+  __rate_interval: { text: '1s', value: '1s' },
   __auto: { text: '1s', value: '1s' },
   __interval_ms: { text: '1000', value: 1000 },
   __range_ms: { text: '1000', value: 1000 },
diff --git a/public/app/plugins/datasource/prometheus/components/PromQueryField.tsx b/public/app/plugins/datasource/prometheus/components/PromQueryField.tsx
index 4162dfca2e4..97e010b0b5f 100644
--- a/public/app/plugins/datasource/prometheus/components/PromQueryField.tsx
+++ b/public/app/plugins/datasource/prometheus/components/PromQueryField.tsx
@@ -243,6 +243,7 @@ class PromQueryField extends React.PureComponent<PromQueryFieldProps, PromQueryF
                     onRunQuery={this.props.onRunQuery}
                     initialValue={query.expr ?? ''}
                     placeholder="Enter a PromQL query…"
+                    datasource={datasource}
                   />
                 </div>
               </div>
diff --git a/public/app/plugins/datasource/prometheus/components/monaco-query-field/MonacoQueryField.tsx b/public/app/plugins/datasource/prometheus/components/monaco-query-field/MonacoQueryField.tsx
index d79208b1efb..c9d72392276 100644
--- a/public/app/plugins/datasource/prometheus/components/monaco-query-field/MonacoQueryField.tsx
+++ b/public/app/plugins/datasource/prometheus/components/monaco-query-field/MonacoQueryField.tsx
@@ -1,4 +1,5 @@
 import { css } from '@emotion/css';
+import { parser } from '@prometheus-io/lezer-promql';
 import { debounce } from 'lodash';
 import { promLanguageDefinition } from 'monaco-promql';
 import React, { useRef, useEffect } from 'react';
@@ -8,6 +9,10 @@ import { v4 as uuidv4 } from 'uuid';
 import { GrafanaTheme2 } from '@grafana/data';
 import { selectors } from '@grafana/e2e-selectors';
 import { useTheme2, ReactMonacoEditor, Monaco, monacoTypes } from '@grafana/ui';
+import {
+  placeHolderScopedVars,
+  validateQuery,
+} from 'app/plugins/datasource/loki/components/monaco-query-field/monaco-completion-provider/validation';
 
 import { Props } from './MonacoQueryFieldProps';
 import { getOverrideServices } from './getOverrideServices';
@@ -95,7 +100,7 @@ const MonacoQueryField = (props: Props) => {
   // we need only one instance of `overrideServices` during the lifetime of the react component
   const overrideServicesRef = useRef(getOverrideServices());
   const containerRef = useRef<HTMLDivElement>(null);
-  const { languageProvider, history, onBlur, onRunQuery, initialValue, placeholder, onChange } = props;
+  const { languageProvider, history, onBlur, onRunQuery, initialValue, placeholder, onChange, datasource } = props;
 
   const lpRef = useLatest(languageProvider);
   const historyRef = useLatest(history);
@@ -281,6 +286,31 @@ const MonacoQueryField = (props: Props) => {
 
             checkDecorators();
             editor.onDidChangeModelContent(checkDecorators);
+
+            editor.onDidChangeModelContent((e) => {
+              const model = editor.getModel();
+              if (!model) {
+                return;
+              }
+              const query = model.getValue();
+              const errors =
+                validateQuery(
+                  query,
+                  datasource.interpolateString(query, placeHolderScopedVars),
+                  model.getLinesContent(),
+                  parser
+                ) || [];
+
+              const markers = errors.map(({ error, ...boundary }) => ({
+                message: `${
+                  error ? `Error parsing "${error}"` : 'Parse error'
+                }. The query appears to be incorrect and could fail to be executed.`,
+                severity: monaco.MarkerSeverity.Error,
+                ...boundary,
+              }));
+
+              monaco.editor.setModelMarkers(model, 'owner', markers);
+            });
           }
         }}
       />
diff --git a/public/app/plugins/datasource/prometheus/components/monaco-query-field/MonacoQueryFieldProps.ts b/public/app/plugins/datasource/prometheus/components/monaco-query-field/MonacoQueryFieldProps.ts
index 3c5f17fa23d..1383b565828 100644
--- a/public/app/plugins/datasource/prometheus/components/monaco-query-field/MonacoQueryFieldProps.ts
+++ b/public/app/plugins/datasource/prometheus/components/monaco-query-field/MonacoQueryFieldProps.ts
@@ -1,5 +1,6 @@
 import { HistoryItem } from '@grafana/data';
 
+import { PrometheusDatasource } from '../../datasource';
 import type PromQlLanguageProvider from '../../language_provider';
 import { PromQuery } from '../../types';
 
@@ -16,4 +17,5 @@ export type Props = {
   onBlur: (value: string) => void;
   // onChange will never initiate a query, it just denotes that a query value has been changed
   onChange: (value: string) => void;
+  datasource: PrometheusDatasource;
 };
diff --git a/public/app/plugins/datasource/prometheus/components/monaco-query-field/monaco-completion-provider/validation.test.ts b/public/app/plugins/datasource/prometheus/components/monaco-query-field/monaco-completion-provider/validation.test.ts
new file mode 100644
index 00000000000..2fa5706412d
--- /dev/null
+++ b/public/app/plugins/datasource/prometheus/components/monaco-query-field/monaco-completion-provider/validation.test.ts
@@ -0,0 +1,85 @@
+import { parser } from '@prometheus-io/lezer-promql';
+
+import { validateQuery } from 'app/plugins/datasource/loki/components/monaco-query-field/monaco-completion-provider/validation';
+
+describe('Monaco Query Validation', () => {
+  test('Identifies empty queries as valid', () => {
+    expect(validateQuery('', '', [], parser)).toBeFalsy();
+  });
+
+  test.each([
+    'access_evaluation_duration_sum{job="grafana"}',
+    'http_requests_total{job="apiserver", handler="/api/comments"}[5m]',
+    'http_requests_total{job=~".*server"}',
+    'rate(http_requests_total[5m])[30m:1m]',
+    'max_over_time(deriv(rate(distance_covered_total[5s])[30s:5s])[10m:])',
+    'rate(http_requests_total[5m])',
+    'topk(3, sum by (app, proc) (rate(instance_cpu_time_ns[5m])))',
+  ])('Identifies valid queries', (query: string) => {
+    expect(validateQuery(query, query, [], parser)).toBeFalsy();
+  });
+
+  test('Identifies invalid queries', () => {
+    // Missing } at the end
+    let query = 'access_evaluation_duration_sum{job="grafana"';
+    expect(validateQuery(query, query, [query], parser)).toEqual([
+      {
+        endColumn: 45,
+        endLineNumber: 1,
+        error: '{job="grafana"',
+        startColumn: 31,
+        startLineNumber: 1,
+      },
+    ]);
+
+    // Missing handler="value"
+    query = 'http_requests_total{job="apiserver", handler}[5m]';
+    expect(validateQuery(query, query, [query], parser)).toEqual([
+      {
+        endColumn: 45,
+        endLineNumber: 1,
+        error: 'handler',
+        startColumn: 38,
+        startLineNumber: 1,
+      },
+    ]);
+
+    // Missing : in [30s:5s]
+    query = 'max_over_time(deriv(rate(distance_covered_total[5s])[30s5s])[10m:])';
+    expect(validateQuery(query, query, [query], parser)).toEqual([
+      {
+        endColumn: 60,
+        endLineNumber: 1,
+        error: 'rate(distance_covered_total[5s])[30s5s]',
+        startColumn: 21,
+        startLineNumber: 1,
+      },
+    ]);
+  });
+
+  test('Identifies valid multi-line queries', () => {
+    const query = `
+sum by (job) (
+    rate(http_requests_total[5m])
+)`;
+    const queryLines = query.split('\n');
+    expect(validateQuery(query, query, queryLines, parser)).toBeFalsy();
+  });
+
+  test('Identifies invalid multi-line queries', () => {
+    const query = `
+sum by (job) (
+    rate(http_requests_total[])
+)`;
+    const queryLines = query.split('\n');
+    expect(validateQuery(query, query, queryLines, parser)).toEqual([
+      {
+        endColumn: 30,
+        endLineNumber: 3,
+        error: '',
+        startColumn: 30,
+        startLineNumber: 3,
+      },
+    ]);
+  });
+});
diff --git a/public/app/plugins/datasource/prometheus/datasource.ts b/public/app/plugins/datasource/prometheus/datasource.ts
index 12fdd812864..ccecbe67f29 100644
--- a/public/app/plugins/datasource/prometheus/datasource.ts
+++ b/public/app/plugins/datasource/prometheus/datasource.ts
@@ -1203,8 +1203,8 @@ export class PrometheusDatasource
     return this.templateSrv.getVariables().map((v) => `$${v.name}`);
   }
 
-  interpolateString(string: string) {
-    return this.templateSrv.replace(string, undefined, this.interpolateQueryExpr);
+  interpolateString(string: string, scopedVars?: ScopedVars) {
+    return this.templateSrv.replace(string, scopedVars, this.interpolateQueryExpr);
   }
 
   getDebounceTimeInMilliseconds(): number {