First, pop the corn. Place the vegetable oil and corn kernel in a large pot. Place the lid on top and turn the heat up to high. When the kernel pops, add the rest of the kernels to the pot. Keep the lid on top, give the pot a shake and swirl to make sure the kernels are covered in hot oil, and they will begin to pop within a minute. Allow the kernels to continue to pop over high heat until the popping slows down (1-2 pops per 10 seconds?). At that point, turn the heat off and set the lid ajar to allow steam to escape.
In a medium sauce pot combine the water, sugar, butter, and salt. Turn the heat up to medium and allow the sugar to dissolve and the mixture to come up to a boil. Once it reaches a boil, reduce the heat slightly so that it doesn’t boil over, and allow it to boil for about 10 minutes or until it reduces, becomes slightly thicker, and turns a light golden color.
While the sugar is boiling, preheat the oven to 250 degrees and cover a baking sheet in foil or parchment. Spray the parchment or foil with non-stick spray.
When the sugar takes on a golden hue, turn the heat off and stir in the baking soda and sriracha. The mixture will puff up and turn orange. Work quickly because it will begin to harden as it cools. Pour the mixture over the popped corn in the pot. Use a large spoon to quickly stir it until the corn is coated. Again, it will begin to harden as it cools, so work quickly. Spread the corn out on the prepared baking sheet and bake in the oven for 10 minutes.