In a large mixing bowl, combine the shredded cheddar and mozzarella cheeses with flour, garlic powder, onion powder, paprika, salt, and pepper. Stir thoroughly until well blended. Cover and refrigerate for 15-20 minutes.

Remove the cheese mixture from the refrigerator. Use a tablespoon to scoop and roll it into small balls, about 1 to 1.5 inches in diameter. Place on a parchment-lined baking sheet.

Setup three shallow dishes: one with seasoned flour, the second with beaten eggs, and the third with panko breadcrumbs.

Coat each cheese ball in the flour, dip into beaten eggs, and roll in panko breadcrumbs. For extra crispiness, repeat the egg and breadcrumb steps. Refrigerate for another 10-15 minutes.

Heat the vegetable or canola oil to 350°F (175°C). Fry the cheese balls in small batches for about 2-4 minutes until golden brown. Drain on a wire rack.

Serve the cheese balls with dipping sauces like marinara, ranch, or sriracha mayo.