In a small bowl add in softened butter, garlic powder, and finely chopped serrano peppers. Mix them well with a spoon.
Butter one side of each slice of bread with the softened butter and pepper mix.
Construct your grilled cheese toast by adding shredded mozzarella cheese first on all the slices and then topping the slices with shredded cheddar cheese. Further top all the slices with crushed pepper.
Additionally, place the bread slices in the Air Fryer basket and make sure they are separated out. If you don't separate them out the cheese will melt and stick to each other. If your basket is small you can make 2 toasts at a time and repeat the batch.
Next close the basket and set the time and temperature on the air fryer at 330°F for 5 minutes.
Once done, remove from toasts from the air fryer. The cheese should be melted and slightly brown and the toast should be crisp and golden brown. Finally. place them on a plate, cut in half and experience the magic of deliciousness.