Measure out the Chex cereal into a large bowl. Set aside.
Measure out the powdered sugar and cake mix into a large gallon sized zip top bag. Set aside.
In a medium microwave safe bowl, add the whte chocolate chips. Microwave for a total of 1 minute, stirring at the 30 second mark. Stir until smooth.
Stir the canola oil into the white chocolate until completley incorporated.
Pour the white chocolate into the bowl with the cereal. Stir until the cereal is evenly coated.
Add the covered cereal to the baggie with the powdered sugar. Zip the top tightly and shake until the cereal is completely covered with the powdered sugar/ cake mix.
Pour the cereal onto a large cookie sheet to dry. Will stay fresh in an air tight container for 3-4 days.
If consuming raw flour is something you'd like to avoid- Place the cake mix in a microwave safe bowl and microwave for 1 minute until the internal temperature reaches 160F degrees on an instant read thermometer. Then use as directed.