| N-2 | Feb. 01, 2024 USD ($) $ / shares |
| Cover [Abstract] | |
| Entity Central Index Key | 0001703079 |
| Amendment Flag | false |
| Document Type | 424B2 |
| Entity Registrant Name | XAI Octagon Floating Rate & Alternative Income Trust |
| Fee Table [Abstract] | |
| Shareholder Transaction Expenses [Table Text Block] | Shareholder Transaction Expenses Sales load paid by Common Shareholders (as a percentage of offering price) None Offering expenses borne by the Trust (as a percentage of offering price) 0.05 % (2) Dividend Reinvestment Plan fees None (3) |
| Sales Load [Percent] | 0% |
| Other Transaction Expenses [Abstract] | |
| Other Transaction Expenses [Percent] | |
| Annual Expenses [Table Text Block] | As a Percentage Annual Expenses Management fees (4) 2.85% Leverage expense Interest payment on borrowed funds (5) 3.25% Preferred Share dividends (6) 1.15% Other expenses Investor Support and Secondary Market Support Services Fee (7) 0.33% Other (8)(9) 0.71% Total annual expenses 8.29% |
| Management Fees [Percent] | 2.85% |
| Interest Expenses on Borrowings [Percent] | 3.25% |
| Dividend Expenses on Preferred Shares [Percent] | 1.15% |
| Distribution/Servicing Fees [Percent] | 0% |
| Other Annual Expenses [Abstract] | |
| Other Annual Expenses [Percent] | 0.71% |
| Total Annual Expenses [Percent] | 8.29% |
| Waivers and Reimbursements of Fees [Percent] | 0.33% |
| Expense Example [Table Text Block] | 1 Year 3 Years 5 Years 10 Years $82 $237 $382 $705 |
| Expense Example, Year 01 | $ | $ 82 |
| Expense Example, Years 1 to 3 | $ | 237 |
| Expense Example, Years 1 to 5 | $ | 382 |
| Expense Example, Years 1 to 10 | $ | $ 705 |
| Purpose of Fee Table , Note [Text Block] | The following table contains information about the costs and expenses that Common Shareholders will bear directly or indirectly. The table is based on the capital structure of the Trust as of September 30, 2023 (except as noted below) after giving effect to the anticipated net proceeds of the Common Shares offered pursuant to this Prospectus Supplement and the accompanying Prospectus and assuming the Trust incurs the estimated offering expenses. The purpose of the table and the example below is to help you understand the fees and expenses that you, as a holder of Common Shares, would bear directly or indirectly. |
| Other Expenses, Note [Text Block] | Example The following example illustrates the expenses that you would pay on a $1,000 investment in Common Shares, assuming (1) total annual expenses of 8.29% of net assets attributable to Common Shares, (2) estimated offering expenses of $0.50, and (3) a 5% annual return. The example assumes that the estimated Total Annual Expenses set forth in the Annual Expenses table are accurate and that all dividends and distributions are reinvested at NAV per Common Share. Actual expenses may be greater or less than those assumed. Moreover, the Trust’s actual rate of return may be greater or less than the hypothetical 5% return shown in the example. 1 Year 3 Years 5 Years 10 Years $82 $237 $382 $705 The Example should not be considered a representation of future expenses or returns. Actual expenses may be higher or lower than those assumed. Moreover, the Trust’s actual rate of return may be higher or lower than the hypothetical 5% return shown in the example. |
| Acquired Fund Fees and Expenses, Note [Text Block] | SUMMARY OF TRUST EXPENSES The following table contains information about the costs and expenses that Common Shareholders will bear directly or indirectly. The table is based on the capital structure of the Trust as of September 30, 2023 (except as noted below) after giving effect to the anticipated net proceeds of the Common Shares offered pursuant to this Prospectus Supplement and the accompanying Prospectus and assuming the Trust incurs the estimated offering expenses. The purpose of the table and the example below is to help you understand the fees and expenses that you, as a holder of Common Shares, would bear directly or indirectly. Shareholder Transaction Expenses Sales load paid by Common Shareholders (as a percentage of offering price) None Offering expenses borne by the Trust (as a percentage of offering price) 0.05 % (2) Dividend Reinvestment Plan fees None (3) As a Percentage Annual Expenses Management fees (4) 2.85% Leverage expense Interest payment on borrowed funds (5) 3.25% Preferred Share dividends (6) 1.15% Other expenses Investor Support and Secondary Market Support Services Fee (7) 0.33% Other (8)(9) 0.71% Total annual expenses 8.29% |
| Financial Highlights [Abstract] | |
| Senior Securities, Note [Text Block] | SENIOR SECURITIES The information contained under the heading “Notes to Financial Statements —10. Senior Securities” in the Trust’s Annual Report is incorporated herein by reference. |
| General Description of Registrant [Abstract] | |
| Investment Objectives and Practices [Text Block] | Investment Objective. The investment objective of the Trust is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. There can be no assurance that the Trust will achieve its investment objective, and you could lose some or all of your investment. |
| Risk Factors [Table Text Block] | RISKS An investment in the Trust is subject to investment risk, including the possible loss of your entire investment. Investors should consider the specific risk factors and special considerations associated with investing in the Trust. See “Risks” beginning on page 2 of the accompanying Prospectus, and “Risks” in the Trust’s most recent Annual Report on Form N -CSR |
| Share Price [Table Text Block] | MARKET AND NET ASSET VALUE INFORMATION The Trust’s currently outstanding Common Shares are, and the Common Shares offered pursuant to this Prospectus Supplement and the accompanying Prospectus will be, subject to notice of issuance, listed on the NYSE. The Common Shares commenced trading on the NYSE on September 27, 2017. The Common Shares have traded both at a premium and at a discount to the Trust’s NAV per Common Share. Although the Common Shares recently have traded at a premium to NAV, there can be no assurance that this will continue after the offering nor that the Common Shares will not trade at a discount in the future. Shares of closed -end Market Price Corresponding Net Asset Corresponding Fiscal Quarter Ended High Low High Low High Low December 31, 2023 $ 7.24 $ 6.48 $ 6.89 $ 6.55 5.08% -1.07% |
| Lowest Price or Bid | $ / shares | $ 6.48 |
| Highest Price or Bid | $ / shares | 7.24 |
| Lowest Price or Bid, NAV | $ / shares | 6.55 |
| Highest Price or Bid, NAV | $ / shares | $ 6.89 |
| Highest Price or Bid, Premium (Discount) to NAV [Percent] | 5.08% |
| Latest Premium (Discount) to NAV [Percent] | 1.07% |
| Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |
| Capital Stock [Table Text Block] | DESCRIPTION OF CAPITAL STRUCTURE The Trust is an unincorporated statutory trust organized under the laws of Delaware pursuant to a Certificate of Trust, dated as of April 4, 2017. The following is a brief description of the terms of the Common Shares, Indebtedness and Preferred Shares which may be issued by the Trust. This description does not purport to be complete and is qualified by reference to the Trust’s Certificate of Trust, Agreement and Declaration of Trust (the “Declaration of Trust”) and By -Laws Common Shares Pursuant to the Declaration of Trust, the Trust is authorized to issue an unlimited number of Common Shares of beneficial interest, par value $0.01 per share. Each Common Share has one vote and, when issued and paid for in accordance with the terms of this offering, will be fully paid and non -assessable -annual Any additional offerings of Common Shares will require approval by the Board of Trustees. Any additional offering of Common Shares will be subject to the requirements of the 1940 Act, which provides that shares may not be issued at a price below the then current net asset value, exclusive of sales load, except in connection with an offering to existing Common Shareholders or with the consent of a majority of the Trust’s outstanding voting securities. The Trust’s currently outstanding Common Shares are, and Common Shares offered by this Prospectus will be, listed on the NYSE under the symbol “XFLT.” The Trust’s net asset value per Common Share generally increases and decreases based on the market value of the Trust’s securities. Net asset value per Common Share will be reduced immediately following an offering of Common Shares by the amount of the sales load and offering expenses paid by the Trust. See “Use of Proceeds.” The Trust will not issue certificates for Common Shares. Issuance of Additional Common Shares. -end The Trust may, from time to time, seek the consent of Common Shareholders to permit the issuance and sale by the Trust of Common Shares at a price below the Trust’s then -current |
