Xbalanque - Arena

My Xbalanque builds.

Build 1: Damage
Build 2: Attack Speed

Concerning boots:
If you pick Asi -> Warrior Tabi
If you pick Ichaival -> Ninja Tabi
Some might argue that Xbalanque doesn't need the Warrior Tabi because of the damage boost from his passive, or that he doesn't need the Ninja tabi when you use Wind Demon. Honestly, it's all a matter of preference. Pick whichever one suits your playstyle.

Transcendence:
Power boost and fixes your mana problems. Xbalanque is one of the very few hunters that can actually make good use of this item. With transcendence, he is able to keep his first ability Branching Bolas up almost indefinitely which provides a damage boost to each basic attack.
My advice is to rush this item first so you can start building stacks early game. It helps Xbalanque come online much faster.

Asi:
Attack speed, life steal, penetration... What's not to like? Did I mention it's nice and cheap? Solid item pick.
Bloodforge can be substituted if you have the extra money and have trouble getting away after a kill, but you will lose out on the other goodies Asi brings to the table though.
If your problem swings the other way around and you feel lucky or pro enough to do without the sustain from life steal, well good for you. Try looking into moving up Deatheater in the purchase order to this slot, then pick something extra nice endgame for the empty slot.

The Executioner/Hastened Fatalis:
The Executioner helps you shred trough the tankier gods. Get this if you are up against 3 or more tanky enimies with physical protections. If you are only up against fast and squishy gods swap this item for Hastened Fatalis. Fatalis is just really fun on a hunter in Arena. It is also very versatile.


Deathbringer:
Can't skip this item in a damage or crit build for Xbalanque.
Adding this item on top of a fully charged Xbalanque passive + Branching Bolas, the crit damage becomes kind of ridiculous.
(If you only have space for 1 crit item or you need the extra mobility/attack speed you could swap this out for Wind Demon, if that has your preference.)

Malice/Wind Demon/Qin's Sais:
Fill the last slot depending on what you need for the match.
Need more mobility/attack speed but don't need damage that much, take Wind Demon. If you find it hard to land that one last killing blow, take Malice. Take Qin's Sais if you need that little extra help against tanky enemies.

Additional note:
This is Arena. There is a high chance you will find yourself in a game where the enemies will consistently group up, or that you are playing with allies that have great pull/stun/cluster abilities. If this happens there is nothing wrong with looking into buying Odysseus Bow. This item is very useful against groups, if you can consistently get the extra damage to trigger on as many enemies as possible.

0 - Passive: Dead of Night
Kills give you permanent power boosts. Try to get (or steal) kills as early as possible to get this online ASAP.
1 - Branching Bola's
Combo's well with starter item Death's Toll, as it won't cost any mana at level 1. Not great for minion clear, but it gets the job done for building stacks on Transcendence.
2 - Poison Darts
Use to initiate god fights or slow, don't bother using it on minions. Scales relatively well in late game. Enemies hit by poison take more damage from Rising Jaguar, so don't forget to combo if possible.
Can be used against Izanami's invisibility.
3 - Rising Jaguar
Very good dash that comes with CC immunity. Has a relatively long cooldown of 16 seconds. Keep in mind that this ability can be steered while in the air, so you can use it to jump in and back out again if you need that one last hit on an enemy, or use it to position yourself around a corner if taking fire.
4 - Darkest of Night
Great Ultimate that affects enemies map wide. Keep in mind that while Darkest Night is active Xbalanque's attacks gain a range increase. Don't level this skill until last as it only adds movement speed.
Fun stuff to do with this Ult:

Secure kills/getaways for your team.
Counter an enemy Xbalanque's own Darkest of Night.
Use it on a Scylla that is using her Ultimate.

Build 1 - Damage: Branching Bolas -> Rising Jaguar -> Poison Darts -> Darkest of Night.
Build 2 - Attack Speed: Rising Jaguar -> Branching Bolas -> Poison Darts -> Darkest of Night.