Make the Risotto:

1. Prepare your mise en place: Warm the broth in a separate saucepan and keep it hot on low heat. If using saffron, steep it in the warm broth. Have all your ingredients measured and ready—risotto requires constant attention once you start.
2. Sauté the aromatics: In a large heavy-bottomed saucepan or Dutch oven, heat the olive oil and 1 tablespoon of butter over medium heat. Add the diced onion and cook for 3-4 minutes until softened and translucent. Add the minced garlic and cook for another 30 seconds until fragrant, being careful not to let it burn.
3. Toast the rice: Add the Arborio rice to the pan and stir constantly for 2-3 minutes. The rice should become slightly translucent around the edges and smell slightly nutty. This toasting step is crucial for flavor development and helps the rice absorb the liquid better.
4. Add the wine: If using wine, pour it in now and stir constantly until it’s almost completely absorbed by the rice. The alcohol will cook off, leaving behind wonderful flavor and acidity.
5. Cook the risotto: Begin adding the warm broth one ladle at a time (about ½ cup), stirring constantly. Wait until each addition is almost completely absorbed before adding the next ladle of broth. This process takes patience—about 18-22 minutes total. The risotto is done when the rice is tender but still has a slight bite (al dente) and the mixture is creamy.
6. Finish the risotto: Remove from heat and immediately stir in the remaining 2 tablespoons of butter, the grated Parmesan cheese, salt, and pepper. Stir vigorously for a minute to incorporate everything and create a creamy texture. Let the risotto cool for about 10 minutes, then stir in the 2 beaten eggs. The eggs will help bind the arancini together.
7. Chill the risotto: Spread the risotto mixture onto a large baking sheet to cool more quickly, or transfer to a large bowl. Cover and refrigerate for at least 2 hours or overnight. Cold risotto is much easier to shape and will hold together better.

Form and Bread the Arancini:

8. Set up your breading station: Place the flour in one shallow bowl, the beaten eggs with water in a second bowl, and the breadcrumbs in a third bowl. Line a baking sheet with parchment paper for the formed arancini.
9. Shape the rice balls: With slightly damp hands (this prevents sticking), scoop about 2-3 tablespoons of cold risotto into your palm. Flatten it slightly, place a cube of mozzarella in the center, then fold the rice around the cheese and roll into a smooth ball about the size of a golf ball. Make sure the cheese is completely enclosed with no holes. Place on the prepared baking sheet and repeat with remaining rice and cheese.
10. Bread the arancini: Working with one arancini at a time, roll it first in flour (shaking off excess), then dip in the egg wash (letting excess drip off), and finally coat thoroughly in breadcrumbs, pressing gently to adhere. Place back on the baking sheet. Repeat with all arancini. For an extra crispy coating, you can double-bread by dipping in egg and breadcrumbs a second time.

Fry the Arancini:

11. Heat the oil: In a deep heavy pot or Dutch oven, heat about 3-4 inches of vegetable oil to 350°F (175°C). Use a deep-fry thermometer to monitor the temperature—this is crucial for perfectly fried arancini. If the oil is too hot, they’ll burn on the outside before heating through; too cool, and they’ll be greasy.
12. Fry in batches: Carefully lower 3-4 arancini into the hot oil using a spider strainer or slotted spoon. Don’t overcrowd the pot, as this will lower the oil temperature. Fry for 4-5 minutes, turning occasionally with the strainer, until deep golden brown on all sides. The interior should be heated through and the cheese melted.
13. Drain and repeat: Remove the fried arancini to a paper towel-lined plate to drain excess oil. Let the oil return to 350°F between batches. Repeat until all arancini are fried.
14. Serve immediately: Serve the hot arancini with warm marinara sauce for dipping, garnished with fresh basil and extra Parmesan if desired. They’re best enjoyed within 20-30 minutes of frying while still hot and crispy.