The Cottagers went two goals down early on as Olivier Giroud and Lukas Podolski struck but the game turned on its head through an Alex Kacaniklic goal and a Dimitar Berbatov double.
Despite his side conceding at the hands of Giroud before seeing Arteta miss a chance to win the game, Jol believes a 3-3 draw was a fair result in the end.
"I am proud of the way we played. We started so well and then went 2-0 down, which was harsh. I thought we were equally as good as Arsenal," he told reporters.
"It was very disappointing to be 2-0 down if you saw how my team played, especially in the second half. We broke them, we dominated them.
"They are a good team but, but it would have been very harsh if they scored the penalty."
|7/1||Fulham are 7/1 to beat Sunderland 2-0 with Paddy Power|
Commenting on the Bulgarian's performance, Jol said: "He scored two goals again today. He caused them a problem. Bryan [Ruiz] has probably had his best game since he joined us.
"The only [disappointing] this is is that we could have lost the game in the dying seconds. Before that, we could have won.
"[The penalty technique] was pretty cool. He did it the other day and I said 'How many other players in England would wait for the keeper [to go down]?' and, to be honest, there is not one player who could do that. It was brave. He said afterwards 'You see? I can do that'."