You should be fine with anywhere between a 40" and 44' long axle, but I'd suggest you contact Margay and ask them what type/length of axle your kart originally had. They would have selected/used the axle that best complemented that particular model chassis.
Ask Margay for all the setup info/specifications they have for your model, I'm sure they did a lot of testing and its common practice for racekart manufacturers to supply ALL owners with the base-line/default set up specifications.
Your rear wheel hubs clamp onto the axle where ever you want and allow you to adjust/fine-tune the rear track width most anywhere that makes the kart handle/hook-up best.
You'll find your rear wheel hubs are available in short medium and extra long length models, so you could always experiment with even more track widths by purchasing additional hubs. (buy mediums first) The axle will fit all the way through the center hole in race kart rims, so you could always try radically narrowing your rear track with to see if that improves handling too. Although wider track widths usually seem to work best on karts like yours on paved road course type racing. Dirt/paved oval racers tend to work better with narrower track widths.
My late-90's era Beisse B3 model kart (pictured below) is kinda similar to yours, but my frame is 2' wider in the back. I've got a 44" long x 40mm. axle. My kart handles best on paved road courses with an overall track width of 51" measured at the outer edge of the tires tread. I've got medium-length hubs on this kart:
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In this pic below I had the same kart setup for oval racing with the wheels adjusted in as far as they would go: