Preheat the oven to 375°F.
Use a paper towel to remove moisture from hot dogs, set aside.
In a small bowl, combine pancake mix and water until dough forms.
Lightly flour hands and roll dough into 1/2-inch balls. Flatten dough slightly.
Wrap dough around each hot dog, leaving ends open.
Pinch edges to secure. Bake for 10 to 15 minutes.