You should, of course, upper bound this overhead by switching to a full time travel debugging solution, thus tracing everything, when you get to the 10-30% range.
The only way you get to “majority” is if your trace implementation is slower than time travel debugging and provides less information, but then why choose something worse in every dimension.
1: https://llvm.org/docs/XRay.html ... is there even a Rust analog to this?
Before you say Axum is "holding it wrong" the project lives under the tokio-rs GitHub org.