diff --git a/litellm/litellm_core_utils/litellm_logging.py b/litellm/litellm_core_utils/litellm_logging.py
index 4a16ad85f2..d59f985584 100644
--- a/litellm/litellm_core_utils/litellm_logging.py
+++ b/litellm/litellm_core_utils/litellm_logging.py
@@ -524,6 +524,7 @@ class Logging:
             TextCompletionResponse,
             HttpxBinaryResponseContent,
         ],
+        cache_hit: Optional[bool] = None,
     ):
         """
         Calculate response cost using result + logging object variables.
@@ -535,10 +536,13 @@ class Logging:
             litellm_params=self.litellm_params
         )
 
+        if cache_hit is None:
+            cache_hit = self.model_call_details.get("cache_hit", False)
+
         response_cost = litellm.response_cost_calculator(
             response_object=result,
             model=self.model,
-            cache_hit=self.model_call_details.get("cache_hit", False),
+            cache_hit=cache_hit,
             custom_llm_provider=self.model_call_details.get(
                 "custom_llm_provider", None
             ),
@@ -630,6 +634,7 @@ class Logging:
                     init_response_obj=result,
                     start_time=start_time,
                     end_time=end_time,
+                    logging_obj=self,
                 )
             )
             return start_time, end_time, result
@@ -2181,6 +2186,7 @@ def get_standard_logging_object_payload(
     init_response_obj: Any,
     start_time: dt_object,
     end_time: dt_object,
+    logging_obj: Logging,
 ) -> Optional[StandardLoggingPayload]:
     try:
         if kwargs is None:
@@ -2277,11 +2283,17 @@ def get_standard_logging_object_payload(
             cache_key = litellm.cache.get_cache_key(**kwargs)
         else:
             cache_key = None
+
+        saved_cache_cost: Optional[float] = None
         if cache_hit is True:
             import time
 
             id = f"{id}_cache_hit{time.time()}"  # do not duplicate the request id
 
+            saved_cache_cost = logging_obj._response_cost_calculator(
+                result=init_response_obj, cache_hit=False
+            )
+
         ## Get model cost information ##
         base_model = _get_base_model_from_metadata(model_call_details=kwargs)
         custom_pricing = use_custom_pricing_for_model(litellm_params=litellm_params)
@@ -2318,6 +2330,7 @@ def get_standard_logging_object_payload(
             id=str(id),
             call_type=call_type or "",
             cache_hit=cache_hit,
+            saved_cache_cost=saved_cache_cost,
             startTime=start_time_float,
             endTime=end_time_float,
             completionStartTime=completion_start_time_float,
diff --git a/litellm/proxy/_new_secret_config.yaml b/litellm/proxy/_new_secret_config.yaml
index 4b83925722..2c888a4f30 100644
--- a/litellm/proxy/_new_secret_config.yaml
+++ b/litellm/proxy/_new_secret_config.yaml
@@ -4,5 +4,10 @@ model_list:
       model: "*"
 
 litellm_settings:
-  max_internal_user_budget: 0 # amount in USD
-  internal_user_budget_duration: "1mo" # reset every month
\ No newline at end of file
+  success_callback: ["s3"]
+  cache: true
+  s3_callback_params:
+    s3_bucket_name: mytestbucketlitellm   # AWS Bucket Name for S3
+    s3_region_name: us-west-2              # AWS Region Name for S3
+    s3_aws_access_key_id: os.environ/AWS_ACCESS_KEY_ID  # us os.environ/<variable name> to pass environment variables. This is AWS Access Key ID for S3
+    s3_aws_secret_access_key: os.environ/AWS_SECRET_ACCESS_KEY  # AWS Secret Access Key for S3
diff --git a/litellm/tests/test_custom_callback_input.py b/litellm/tests/test_custom_callback_input.py
index 01d0531833..a498b970bd 100644
--- a/litellm/tests/test_custom_callback_input.py
+++ b/litellm/tests/test_custom_callback_input.py
@@ -1252,3 +1252,45 @@ def test_standard_logging_payload(model, turn_off_message_logging):
         ]
         if turn_off_message_logging:
             assert "redacted-by-litellm" == slobject["messages"][0]["content"]
+
+
+def test_standard_logging_payload_cache_hit():
+    from litellm.types.utils import StandardLoggingPayload
+
+    # sync completion
+    customHandler = CompletionCustomHandler()
+    litellm.callbacks = [customHandler]
+
+    litellm.cache = Cache()
+
+    _ = litellm.completion(
+        model="gpt-3.5-turbo",
+        messages=[{"role": "user", "content": "Hey, how's it going?"}],
+        caching=True,
+    )
+
+    with patch.object(
+        customHandler, "log_success_event", new=MagicMock()
+    ) as mock_client:
+        _ = litellm.completion(
+            model="gpt-3.5-turbo",
+            messages=[{"role": "user", "content": "Hey, how's it going?"}],
+            caching=True,
+        )
+
+        time.sleep(2)
+        mock_client.assert_called_once()
+
+        assert "standard_logging_object" in mock_client.call_args.kwargs["kwargs"]
+        assert (
+            mock_client.call_args.kwargs["kwargs"]["standard_logging_object"]
+            is not None
+        )
+
+        standard_logging_object: StandardLoggingPayload = mock_client.call_args.kwargs[
+            "kwargs"
+        ]["standard_logging_object"]
+
+        assert standard_logging_object["cache_hit"] is True
+        assert standard_logging_object["response_cost"] == 0
+        assert standard_logging_object["saved_cache_cost"] > 0
diff --git a/litellm/types/utils.py b/litellm/types/utils.py
index a65701d2fd..8efbe5a114 100644
--- a/litellm/types/utils.py
+++ b/litellm/types/utils.py
@@ -1218,6 +1218,7 @@ class StandardLoggingPayload(TypedDict):
     metadata: StandardLoggingMetadata
     cache_hit: Optional[bool]
     cache_key: Optional[str]
+    saved_cache_cost: Optional[float]
     request_tags: list
     end_user: Optional[str]
     requester_ip_address: Optional[str]