Prepare Instant Pot. Add the water to the Instant Pot and insert the trivet or a steamer basket.
Arrange hot dogs. If cooking one package, stack the hot dogs on the trivet in two layers, alternating direction. For more than one package, stand the hot dogs upright in a steamer basket.
Pressure cook. Close the lid, set the valve to sealing, and cook on High Pressure for 0 minutes. The hot dogs will cook as the pot comes to pressure.
Quick release. Perform a quick pressure release and carefully open the lid.
Serve. Remove the hot dogs and serve as desired.
Notes
Stacking. One 8-count package can be stacked on the trivet. Larger batches work best in a steamer basket.
Frozen hot dogs. One frozen package can be cooked at 0 minutes. For larger frozen batches, increase cook time to 1 minute.
Cooking liquid. Water, broth, stock, or beer can be used. Use 1 to 1 ½ cups of liquid to ensure proper pressure.