In a small bowl, add 1 cup mayonnaise, 1 tablespoon tomato paste, 1 tablespoon rice vinegar , 1 teaspoon paprika, 1 teaspoon garlic powder, 1 tablespoon granulated sugar, 1 tablespoon melted salted butter, and salt and pepper to taste.
Whisk to combine, then add 2-3 tablespoons water as needed to reach the desired consistency.
Cover and store in the refrigerator for at least 30 minutes before serving to let the flavors meld.