In a bowl, add the water and yeast and mix well.
Add the flour, sugar and salt and mix until well combined.
With lightly flour hands, knead until the dough forms.
Divide the dough into 8 equal-sized pieces.
Place the dough piece onto a lightly floured surface and roll each into 14-20-inch long rope.
Wrap 1 hot dog with 1 dough rope and then gently pinch the ends together.
Grease the Air Fryer Basket with cooking spray and then slide inside.
Adjust the temperature of Air Fryer to 390 °F to preheat for 5 minutes.
After preheating, arrange the pretzel dogs into the greased Air Fryer Basket in a single layer.
Slide the basket into Air Fryer and set the time for 7 minutes.
After cooking time is finished, remove the pretzel dogs from Air Fryer and place onto a plate.
Drizzle with butter and serve.