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In the bowl of a stand mixer fitted with paddle attachment, combine the butter, peanut butter, dark brown sugar, and powdered sugar. Mix until light and fluffy, about 2 minutes.
Scrape down the sides and bottom of the bowl and add the egg. Paddle until combined. With the mixer running, slowly drizzle in the vegetable oil and vanilla extract. Add the chili crisp and mix until fully combined.
Scrape down the sides and bottom of the bowl and add the flour, salt, baking powder, and baking soda. Mix until fully combined and no streaks remain.
Transfer the dough to an airtight container and chill in the refrigerator for at least 6 hours, preferably overnight.
Preheat the oven to 350°F. Line a sheet tray with parchment paper and scoop balls of dough, placing them onto the baking tray with at least 2 inches of space in between.
Bake until golden brown around the bottom, about 12 to 15 minutes. Allow to fully cool before eating.