Preheat the air fryer to 400°F for 15 to 18 minutes, depending on its size.
In a small bowl, mix smoked paprika, garlic powder, onion powder, cayenne pepper, salt, and black pepper.
Pat dry the chicken thighs with paper towels and rub them with olive oil.
Sprinkle the spice mixture evenly over both sides of the chicken thighs.
Place the chicken thighs in the air fryer basket, skin-side up, in a single layer.
Air fry for 16 to 22 minutes, flipping halfway through, until an instant-read thermometer inserted at the thickest part of a thigh reaches 155°F.
Let the chicken thighs rest for 5 minutes before serving.