Combine water and butter in a small saucepan and bring to a boil over high heat; pour over dry ingredients and stir rapidly to blend. Set mixture aside until cool enough to handle. Form into about 24 equal balls. Drop hush puppies into hot oil, being careful not to crowd pan; deep-fry, turning once, until golden brown on both sides (3 to 4 minutes). Take care to maintain correct oil temperature. Remove hush puppies from oil with a slotted spoon and drain on paper towels. Serve hot.