I’ve used a few different ones, all in a 1/2 shank. 1/4 shank is way too wobbly in longer lengths. But in a pinch you can use one of those multi directional cutting bits made for drywall in a 1/4 in size, but you got to slow down the router with a speed controler. I mainly use a 5in x 1/2in Hi Helux flute drill bit, a good parabolic bit will cut nicely, but are hard to find. The same goes for a regular old drill bit in a 1/2 shank, that will work too, but kind of slow cutting. As for where to find them, go to any Industrial tool supply shop, they should cost about 5-6 $$.
Look at the end mills. They have all shapes and sizes. They are made for machining, but they work just the same with a router. They are generally cheaper too.