Hi Rick,
I think it depends on the circumstances and your relationship with the person.
I once knew someone who was sarcastic and teasing, but coming from them it was a mark of affection. The more this person liked you, the more likely they were to tease you. Also they would take a lot of sarcasm and teasing back. It was the way they playfully related to the world. It never bothered me because I knew that the intent behind it was kindness and affection.
However
There was another person in my life who was the opposite. For them the phrase ‘Many a true word spoken in jest’ was probably written. This person used humour in a cowardly manner, as a shield to hide behind. They used it to hurt and wound and if called upon it, would say ‘Oh you are so sensitive, I am only joking’.
So it’s possible that you find it exhausting because you are misinterpreting what this person is intending. Or it is possible that you find it exhausting because, actually, you are under emotional attack by this person.
Only you can know which it is.
You might want to consider asking this person what they mean next time they make a comment, and see how they react.