Loki cowers.
This is not something he is used to doing, but given that Thanos broke both his legs and is battling Thor, Mjolnir against the Gauntlet, in a fight that seems to be perpetually crackling, thundering, and roaring, cowering does not seem like a terrible idea.
As he presses himself farther into the corner, hoping to disappear, using every ounce of his strength to maintain the sorcery that keeps the pain from becoming excruciating, he lets his mind wander to how he got here. The quest to prove himself. The acquisition of a throne. Repayment of a debt.
Yes, he gave Thanos the Gauntlet, but only because he thought it would save his life. There was little else he could do but allow him access to the vaults. It was only after it was gone that he did any research to find out just what it was he had given away and why Thanos might have wanted it. Once he knew what it was, he realized that he had very likely doomed the entire universe and it was little good to be alive if all of existence was going to be blinked out with you in it. And so he had done what he could to make finding the Infinity Stones harder. He nudged Thor's vision, he put protections around a ragtag crew of spacefarers, he hindered Thanos in what little ways he could and made sure to inquire after the Collector frequently. It was because of this that Thanos only had the Gauntlet to use against Thor. Loki finds that there is something somewhat funny in the fact that he has become, in a way, the All-Father, protecting the realms from a threat to end them all. Perhaps, he thinks, this means he has been a success. Unless, of course, Thor fails and Thanos kills him, acquires the Stones, and ends the universe, and then he will have been a terrible failure...but everyone will be dead, so it will not matter. This is somewhat comforting.
A large explosion of lightning brings his mind back to the battle before him and when the smoke clears and his vision returns, Thanos is dead, smouldering, and Thor's shoulders drop with the relief of knowing that something huge has ended, a disaster averted, everything properly Avenged. Loki tries to make himself invisible, hoping Thor's gaze will slip past him and he will be left alone, but when it begins to cause the magic keeping his legs from screaming, he drops the idea and returns his concentration where he needs it most.
Thor walks over to him, sets Mjolnir aside, and crouches in front of him, "It is over."
"This I see. It would be hard for it not to be, given that he is smoking."
"Yes, indeed."
"Deal the blow true, Thor, and do not delay. If this is to all end here, let it truly all end."
Thor shakes his head, "No, Loki, I will not."
"You will parade me through the city, defeated, and then execute me in the square?"
"No, not that either."
"Then what?"
"We shall see, but you will live."
Loki cannot believe what he is hearing, "Are you mad?"
"Likely. But a wise man once told me that he stood on the side of life. And I will follow his example in letting those able to serve the same purpose walk beside him."
"I do not understand."
"You do not have to." Thor sits, "You have, it seems, finally learned something."
"Oh?"
"That you are not infallible."
"And how do you come to this conclusion?"
"I know you gave him the Gauntlet."
"Do go on."
"And the only reason that I can think of that he would not have collected the stones is that a very powerful sorcerer was working against him."
"Yes."
"So you must have realized you erred."
Loki smiles a small, crooked smile, "Ah, yes. That. It made sense that if I wished to be alive, along with the rest of you sots, that I ought to do something about that."
"Standing on the side of life."
"Of the universe existing. You see me far more noble than I am."
"I see a man who ruled Asgard well."
"He is not dead, you know. He will demand justice."
"I know. Were he dead, we would be having a very different conversation."
"One far less merciful, I imagine."
"Aye, far less. Or one that would have ended with a single blow."
Thor does not need to gesture to Mjolnir for Loki to take his meaning, "Ah...yes. But what victory would that bring to you? You wish to see me grovel. To hear words of repentance drip from my lips as sweet as dew in the Queen's Garden. But no matter...he will order such a blow sooner, rather than later. And you will not get your words in the short time I have before Odin does what he ought to have years ago."
"Odin does not have the power to give such an order."
Loki's confusion is only momentary, but it flicks across his face before he restores his mask of calm, "He has crowned you."
"Yes. And now it is my duty to deal with 'the problem of Loki'."
"I am, indeed, a problem."
"No, I do not think so."
Everything about Thor irritates Loki. His calm. His patience. The way that he picks up this conversation as though there were not years of hostility between them. As though they were still brothers and the years of anger were merely a spat over a misplaced stuffed animal or a broken toy, but nothing of consequence.
His voice turns bitter, "How is it, Odinson, that you grant me mercy? Is it out of some misplaced sense of pity? Do you see this violence in my nature, in my origins? Do you think I will become some obedient servant, a messenger, perhaps, or a slave? Am I to return to the dungeons, left to bleed and later to scream in agony after years of solitude? What is it you want from me, Thor?" The edge in his voice softens as he resigns to whatever fate he is set for, "There is little left for you to take."
"I do not wish to take anything. I need you for greater things."
"Oh?"
"You have proven yourself a capable leader. A capable king. Thanos left the realms in chaos searching for the Stones. You did what you could to keep them stable in the wake of his terror. You will continue this work."
"What?"
"I need you beside me once again, Brother. You have proven yourself a worthy protector of the realms. Mother would be proud."
These words crack his mask and Thor notices. He reaches for Loki's hand and rests his fingers on his for only a moment.
"What if I refuse?"
"I do not know. I would rather not return you to the dungeon, but if it is my only option..."
"They will not accept my return. I have done far too much damage."
"Who?"
"The people of Asgard. They do not know me as Loki, their king, only in the guise of Odin. I never revealed myself."
"Then how would they know what you have done?"
Loki's eyes meet Thor's, "You did not tell them?"
"Why would I have? When we thought you dead, we kept the matter private. Father did not wish to tell the realm of the death of a prince. He simply stopped mentioning you. Your attempt to conquer Midgard was unnoticed by all but Heimdall and those he told. No one was told why you were in the dungeon if I did not tell them. And as to the throne...if you did not show yourself, who would have known?"
It is a monumental revelation to Loki that no one in Asgard knows he is as terrible as he has sometimes thought himself, "Do they know of my origins?"
"No. I told no one."
"Not even your friends?"
"No, Loki. That is your story to tell, not mine."
His strength is fading and the magic grows weaker; Thor notices him grimace, "Thank you."
"You are welcome. To all eyes, including my own, you are still my brother."
Loki speaks through clenched jaw, "Thank you."
"Your sorcery is weakening."
"Yes."
Thor gets to his feet and hooks Mjolnir to his belt, "Come. I will carry you." He gathers Loki in his arms and Loki does not resist.
"I will beg for death by the time we arrive in Asgard." There are tears in his eyes.
"Yes, you will." Thor looks to the sky, "Heimdall, bring us home." The Bifrost opens.
When they land, Loki is shuddering, his fists clenched against Thor's armor, his voice lost in the overwhelming pain. Thor's horse is waiting and it takes Heimdall's help to get Loki nestled in front of him. As they ride, Loki whimpers as his legs jostle, Thor unable to keep them still. He knows he must, but it is simply impossible to keep Loki on the horse, guide them to the palace, and stabilize his legs all at the same time.
At the palace, he is met by his friends and they ease Loki down. He is stiff, curled in on himself, and he does not respond to any of their requests to reposition himself.
"Where are we taking him?" Hogun asks.
Fandral sighs, adjusting Loki in his arms, "Look at him. To the infirmary. Any place else would be cruel." He turns to Thor, "Right?"
"Of course." There is something familiar in Loki's eyes- a pleading he has not seen since he was just barely grown, "I will be along shortly. I wish to tell Father I have found you."
"Please, Brother..." Loki's voice is barely above a whisper.
Thor hands the reins of his horse to an attendant, "Father can wait. I have waited far too many years to hear you call me 'brother' again." He gently takes Loki in his arms, "Come, friends. There is much healing to do."
As Loki closes his eyes, he hears the others agree and, even through the excruciating pain, he thinks he might be safe with Thor.
The last thing he hears before he blacks out is Fandral's voice saying, "Yes, much to rebuild in every sense of it."