Melt the butter in a medium bowl in the microwave (15-30 seconds should do it). Set aside to cool—this is important, or it may melt the mayonnaise.
Once the butter is cool, add the remaining ingredients (the mayonnaise, ketchup, rice vinegar, chili garlic sauce/sriracha, onion powder, garlic powder, salt, paprika, and white pepper). Whisk together until smooth.
