diff --git a/packages/grafana-ui/src/components/DataLinks/DataLinkInput.tsx b/packages/grafana-ui/src/components/DataLinks/DataLinkInput.tsx
index 127bf984819..b2e3d907610 100644
--- a/packages/grafana-ui/src/components/DataLinks/DataLinkInput.tsx
+++ b/packages/grafana-ui/src/components/DataLinks/DataLinkInput.tsx
@@ -141,7 +141,7 @@ export const DataLinkInput: React.FC<DataLinkInputProps> = memo(
       if (item.origin !== VariableOrigin.Template || item.value === DataLinkBuiltInVars.includeVars) {
         editor.insertText(`${includeDollarSign ? '$' : ''}\{${item.value}}`);
       } else {
-        editor.insertText(`\${${item.value}:queryparam}`);
+        editor.insertText(`${includeDollarSign ? '$' : ''}\{${item.value}:queryparam}`);
       }
 
       setLinkUrl(editor.value);