An injury-time penalty save by Mark Schwarzer earned Fulham a point in a breathtaking six-goal thriller at The Emirates.

After Sascha Riether had been harshly adjudged to have handballed an Andrey Arshavin cross in the dying seconds of stoppage time, Schwarzer guessed correctly to dive left and push Mikel Arteta’s spot-kick past the post.

The Whites had trailed 2-0 through early goals from Olivier Giroud and Lukas Podolski. But Fulham came roaring back, going in level at the break thanks to headers from Dimitar Berbatov and substitute Alexander Kačaniklić.

Having never won at the home of the Gunners, Fulham then dared to dream when Berbatov stroked home from the penalty spot midway through the second half. But just two minutes later, Arsenal levelled when Giroud scored his second of the game.

With the final whistle about to blow, Phil Dowd then pointed to the spot for a second time – but Schwarzer proved to be the hero as he palmed Arteta’s effort around the woodwork in what was the final action of an incredible encounter.

Martin Jol made three changes from the side that drew 2-2 with Everton last time out. In came Ashkan Dejagah, ex-Gunner Steve Sidwell and Kieran Richardson to replace Damien Duff, the injured Mahamadou Diarra and Kačaniklić respectively.

Fulham started brightly; Bryan Ruiz saw a shot deflected inches wide in the fourth minute. But it was the Gunners who went in front with their first real attack of the game in the 11th minute. Theo Walcott’s outswinging corner was met at the near post by Giroud who beat Aaron Hughes to the ball to power a header towards goal. Schwarzer got a hand to the effort but could only help it on its way.

The Whites were dealt a double blow on the 20-minute mark when Richardson limped out of the action. Whilst Fulham were waiting to replace him, Arsenal made it 2-0. Arteta got free in the right-hand side of the penalty area and his cross was met by Podolski who snuck in between Hughes and Riether to prod home. Kačaniklić then entered the fray for Richardson.

But Fulham reduced the arrears just before the half hour. The Whites won a corner which Ruiz took and his delivery was met by the unmarked Berbatov to head home.

And it got even better for Fulham on 39 minutes. Riether played Berbatov in down the right and his centre was met by Kačaniklić, whose downward header bounced once and beat the despairing dive of Vito Mannone.

Moments later, Sidwell harshly went into the book for a trip on Santi Cazorla and from the resulting free-kick, Giroud headed Arteta’s set-piece over the bar.

But it was Fulham were ended the first half on top; Dejagah flicking John Arne Riise’s cross towards goal. The ball was rolling into the path of Berbatov, but the sliding Thomas Vermaelen got back to just beat the Bulgarian to the danger and clear for a corner.

The first action of the second half came in the 51st minute when Walcott’s cross was just too high for Giroud, before Ruiz fired just wide at the other end from 20 yards after Dejagah had cut in from the right and teed up his teammate. On 55 minutes, a mazy run from Walcott ended with the England man firing just wide of the far post.

Sidwell was then fortunate to escape a second booking on the hour mark after a foul on Arsenal substitute Aaron Ramsey, before Brede Hangeland made a great block to deny the impressive Walcott.

But it was Fulham who went in front on 67 minutes. Ruiz robbed the dithering Arteta in possession and strode into the area. He was clipped by Arteta, with referee Dowd pointing to the spot. Berbatov shuffled up and nonchalantly stroked his penalty past Mannone to send the travelling Fulham fans wild. Their joy was to be short-lived.

Kačaniklić forced Mannone into a low save in the 69th minute, but it was 3-3 seconds later. After Giroud had hit the post, Walcott picked up the loose ball. He crossed for Giroud who made no mistake with his header from eight yards.

In the 71st minute, Ruiz tested Mannone with a dipping long-range effort which the Arsenal man unconvincingly pushed away for a corner, before a threaded throughball by Kačaniklić almost put Berbatov in on goal but Laurent Koscielny got back to make a sliding tackle.

Giroud was denied a hat-trick with 10 minutes to go, Schwarzer brilliantly tipping his long-range drive around the post. Giroud then missed a golden chance to win it for Arsenal in the first minute of injury time, arriving unmarked to nod Bacary Sagna’s cross wide.

It looked as though Arsenal would win it in injury time when Dowd pointed to the spot after Arshavin’s cross had hit Riether on the arm. Despite Fulham protests, Dowd indicated that Riether had pushed his arm towards the ball.

Arteta stepped up – but Schwarzer threw himself to his left to push the effort around the post as proceedings finally came to an end.