Preheat oven to 250°F. Arrange 2 racks to divide the oven into thirds.
Place the butter in a medium, microwave-safe bowl and microwave in 10-second intervals until fully melted, 50–60 seconds total. Add worcestershire sauce, seasoning salt, garlic powder, onion powder, paprika, and cayenne, and whisk well to combine.
Place bagel chips in a large bowl and lightly crush them with your hands into bite-size pieces. Add Rice Chex and Wheat Chex, pretzels, pecans, and peanuts, and lightly toss to combine.
Pour half of the butter mixture over the Chex mixture and gently toss to coat. Pour in the remaining butter mixture and gently toss again.
Transfer the mixture onto two large baking sheets and spread into an even layer. Bake, stirring every 15 minutes and rotating pans, until lightly browned and crisp, 45–50 minutes total. Let cool entirely on the baking sheets and store in airtight containers.