You can set the budget in TB of data processed for a day, week, and month. To configure cost control for serverless SQL pool, you can use Synapse Studio or T-SQL.
How to Configure cost control for serverless SQL pool in Synapse Studio
To configure cost control for serverless SQL pool in Synapse Studio navigate to Manage item in the menu on the left, than select SQL pool item under Analytics pools

Once you click on the cost control icon, a side bar will appear:
How to Configure cost control for serverless SQL pool in T-SQL
To configure cost control for serverless SQL pool in T-SQL, you need to execute one or more of the following stored procedures.
sp_set_data_processed_limit
@type = N'daily',
@limit_tb = 1
sp_set_data_processed_limit
@type= N'weekly',
@limit_tb = 2
sp_set_data_processed_limit
@type= N'monthly',
@limit_tb = 3334
The current configuration execute the following T-SQL statement:
SELECT * FROM sys.configurations
WHERE name like 'Data processed %';
How much data was processed during the current day, week, or month, execute the following T-SQL statement:
SELECT * FROM sys.dm_external_data_processed
Exceeding the limits defined in the cost control
For example, in case new query is executed, where weekly limit is set to 1 TB and it was exceeded, the error message will be:
Query is rejected because SQL Serverless budget limit for a period is exceeded. (Period = Weekly: Limit = 1 TB, Data processed = 1 TB))