We explore the possibility of extending Mardare et al.’s quantitative algebras to the structures which naturally emerge from Combinatory Logic and the λ-calculus. First of all, we show that the framework is indeed applicable to those structures, and give soundness and completeness results. Then, we prove some negative results clearly delineating to which extent categories of metric spaces can be models of such theories. We conclude by giving several examples of non-trivial higher-order quantitative algebras.