Lightly spray or brush the hot dogs with oil. Place the hot dogs in the air fryer basket or tray.

Air fry at 380°F (193°C) for 5 minutes. Flip the hot dogs and continue to air fry for another 3-5 minutes, or until your preferred texture is reached. For extra crispiness, air fry at 400°F (205°C) for 4 minutes, flip, and cook for another 2-4 minutes.

While the hot dogs cook, warm the chili in a microwave-safe bowl for about 1 minute, or until heated through. Set aside.

Place the cooked hot dogs into the buns. Top each hot dog generously with chili and shredded cheddar cheese.

Place the chili-cheese-topped hot dogs back into the air fryer. Air fry at 380°F (193°C) for about 1 minute to warm the bread, melt the cheese, and finish heating the chili.