Place a large skillet or large pot over medium heat and fill halfway with oil. Allow oil to heat to 350°F (177°C) while you prepare the funnel cake batter.
In a medium-sized mixing bowl, whisk together the flour, baking powder, cinnamon, nutmeg, and salt. Set aside.
In a separate large mixing bowl, whisk together the milk, granulated sugar, eggs, and vanilla extract until fully combined. Add the dry ingredients to the wet ingredients and mix until just combined.
Once the oil has reached 350°F (177°C) pour the funnel cake batter into a funnel, using your finger to close off the end of the funnel, (or pour the batter into a plastic squeeze bottle or liquid measuring cup).
Carefully pour about 1/4 - 1/3 cup of the batter into the oil in a circular motion overlapping itself. Allow to cook until lightly golden brown on the bottom (about 1-2 minutes), then carefully flip with tongs or a flat spatula and allow to cook for an additional 1-2 minutes or until cooked through.
Carefully remove the cooked funnel cakes with tongs or a flat spatula and transfer to a baking sheet or plate lined with paper towels. Allow to cool slightly, then top with powdered sugar or your favorite toppings, and enjoy!