The Gunners needed a customary corner routine to cancel out Raul Jimenez's opener as William Saliba ensured that the points would be split, but an 88th-minute Bukayo Saka effort was then ruled out for an offside offence against Gabriel Martinelli.
Needing to atone for their horrific 2-1 loss at Craven Cottage last season, Arsenal had Fulham on the West London ropes early doors, although they were caught cold when Jimenez produced a brilliant finish across goal with the hosts' first attack.
The pattern of the derby largely stayed the same despite the Cottagers' shock opener, with Mikel Arteta's men probing but not penetrating, thanks also to Fulham's duelling excellence and sturdy defensive shape.
Even Arsenal's trusty set-pieces were failing them in the first half, but only until the early period of the second 45, where Saliba just about kept himself onside to lash in his second corner goal from as many matches.
Marco Silva's side managed to successfully shut up shop for the most part after Saliba's effort, until Saka had seemingly stolen all three points for the visitors with a close-range header from Martinelli's inswinging cross.
However, the Brazilian had failed to hold his run, and as many as eight added minutes were not enough for Arsenal to breach Bernd Leno's net for a third time as their four-match winning sequence in all competitions came to an abrupt end.
While the Gunners have reduced the gap to leaders Liverpool to six points, they will fall nine behind the Reds if they win their game in hand, while Fulham sit 10th and remain within touching distance of the European places.
FULHAM VS. ARSENAL HIGHLIGHTS
Raul Jimenez goal vs. Arsenal (11th min, Fulham 1-0 Arsenal)
An opener out of nothing for Fulham's Mexican marksman!
The Cottagers frontman is released down the right channel by Kenny Tete's terrific pass, and he leaves Jakub Kiwior for dead before letting fly with a crisp left-footed strike, which flies into the far corner.
Saliba came across to try to get a block in, but the Frenchman does not commit completely, and it is a wonderful finish from Fulham's number seven.
William Saliba goal vs. Fulham (52nd min, Fulham 1-1 Arsenal)
The set-piece saving grace strikes again! Declan Rice whips in a delicious corner to the back stick, and Kai Havertz prods the ball back into the mixer, where Saliba is on hand to poke in his second from as many games.
The Frenchman appeared offside at a first glance, but Antonee Robinson's left boot was just keeping him on, and the Gunners are level.
Bukayo Saka disallowed goal vs. Fulham (88th min, Fulham 1-1 Arsenal)
Delirium in the away end as Saka heads in Martinelli's cross at the back post, but the latter had strayed offside in the build-up and VAR official John Brooks correctly disallows the goal.
MAN OF THE MATCH - DECLAN RICE
He may have wasted a last-gasp free kick while attempting to find the top corner from an improbable angle, but take nothing away from Rice's overall performance, even if he did not end up on the victorious side.
The Englishman put in a passing masterclass in West London, finishing the encounter with 98% accuracy, creating three chances and finding the mark with all four of his long ball attempts.
FULHAM VS. ARSENAL MATCH STATS
Possession: Fulham 33%-67% Arsenal
Shots: Fulham 2-12 Arsenal
Shots on target: Fulham 2-4 Arsenal
Corners: Fulham 0-6 Arsenal
Fouls: Fulham 10-9 Arsenal
BEST STATS
WHAT NEXT?
After facing off against a Fulham side boasting a few former Gunners, Arsenal meet Arsene Wenger and Thierry Henry's erstwhile club Monaco in the Champions League on Wednesday before taking on Everton in the Premier League next Saturday.
Meanwhile, Fulham face possibly the biggest domestic challenge they could face next weekend, travelling to Anfield to meet leaders Liverpool on December 14.
Written by
Ben Knapton