Melt the butter in a small saucepan over low heat.
Add the honey, Dijon mustard, yellow mustard, apple cider vinegar, garlic powder, smoked paprika, salt, and black pepper.
Whisk until smooth and well combined.
Warm gently for 2–3 minutes, stirring frequently. Do not bring the sauce to a vigorous boil.
If the sauce is too thick, whisk in water 1 teaspoon at a time.
Taste and adjust the sweetness, tanginess, or heat as desired.
Toss the warm sauce with about 2 pounds of freshly cooked crispy chicken wings.
Serve immediately.