diff --git a/packages/integrations/useAxios/index.test.ts b/packages/integrations/useAxios/index.test.ts
index d4834888953..a05117cc1cd 100644
--- a/packages/integrations/useAxios/index.test.ts
+++ b/packages/integrations/useAxios/index.test.ts
@@ -290,6 +290,23 @@ describe('useAxios', () => {
     expect(error).toBeDefined()
   })
 
+  it('should be loading on re-execute', async () => {
+    const onError = vi.fn()
+    const { isLoading, execute } = useAxios(url, config, { ...options, onError })
+
+    execute().catch(() => {})
+    await new Promise(resolve => setTimeout(resolve, 0))
+    expect(isLoading.value).toBeTruthy()
+
+    execute().catch(() => {})
+    await new Promise(resolve => setTimeout(resolve, 0))
+    expect(isLoading.value).toBeTruthy()
+
+    await execute().catch(() => {})
+    expect(isLoading.value).toBeFalsy()
+    expect(onError).toBeCalledTimes(2)
+  })
+
   it('missing url', async () => {
     // prevent stderr in jsdom xhr
     console.error = vi.fn()
diff --git a/packages/integrations/useAxios/index.ts b/packages/integrations/useAxios/index.ts
index ded4acedce6..c00cb13cf74 100644
--- a/packages/integrations/useAxios/index.ts
+++ b/packages/integrations/useAxios/index.ts
@@ -204,6 +204,7 @@ export function useAxios<T = any, R = AxiosResponse<T>, D = any>(...args: any[])
     catch: (...args) => waitUntilFinished().catch(...args),
   } as Promise<OverallUseAxiosReturn<T, R, D>>
 
+  let executeCounter = 0
   const execute: OverallUseAxiosReturn<T, R, D>['execute'] = (executeUrl: string | AxiosRequestConfig<D> | undefined = url, config: AxiosRequestConfig<D> = {}) => {
     error.value = undefined
     const _url = typeof executeUrl === 'string'
@@ -218,6 +219,10 @@ export function useAxios<T = any, R = AxiosResponse<T>, D = any>(...args: any[])
     resetData()
     abort()
     loading(true)
+
+    executeCounter += 1
+    const currentExecuteCounter = executeCounter
+
     instance(_url, { ...defaultConfig, ...typeof executeUrl === 'object' ? executeUrl : config, cancelToken: cancelToken.token })
       .then((r: any) => {
         response.value = r
@@ -231,7 +236,8 @@ export function useAxios<T = any, R = AxiosResponse<T>, D = any>(...args: any[])
       })
       .finally(() => {
         options.onFinish?.()
-        loading(false)
+        if (currentExecuteCounter === executeCounter)
+          loading(false)
       })
     return promise
   }