I am seeing 3/8 24 lock nuts for my 10mm axles made out various materials. Grade 2 steel, grade 5 steel, grade 8 steel, stainless steel and titanium. Other than the titanium the prices are not that far apart. I can’t image wheel lock nuts are under that much load.
Stainless ok for this application? What would you choose?
I’ve always been a fan of zinc plated + higher grade. Though it’s less likely if the axles aren’t stainless as well, stainless nuts are still susceptible to galling & seizing.
As for grade 2 vs grade 8 on a nut.
You’re probably fine with grade 2 for a wheel axle. But tensile strength between the two is literally more than double. Why not just opt for higher grade in a hobby that has a risk of serious bodily injury. Densities between those grades are similar to the point you’re not really saving on weight at all.