Preheat the oven to 250 degrees.
Melt butter and mix into honey, Dijon mustard, garlic powder, dried mustard, and onion powder. Whisk well until ingredients are well mixed.
Place pretzels in a large bowl.
Pour glaze mixture over pretzels and gently toss the pretzels until they are all evenly coated.
Place glazed pretzels in a large sheet pan and bake at 250 degrees for 1 hour, stirring every 15 minutes.
Remove from oven and separate pretzels before completely cooling (they have a tendency to stick together while cooling).
Cool completely as the glaze will crisp up more as they cool.