Mix together flour, paprika, garlic powder, baking powder, and salt in one bowl, eggs and buttermilk in another, and bread crumbs and Parmesan cheese in a third.
Coat each asparagus stalk in the flour blend, dunk into the egg mixture, then roll in the bread crumbs. Transfer to the refrigerator and let them rest for 30 minutes; this will help the breading stick during frying.
Heat oil in a deep-fryer or large saucepan to 375 degrees F (190 degrees C).
Fry asparagus in the hot oil, working in batches as needed, until breading is golden brown, about 4 minutes. Transfer to a paper towel-lined plate to drain excess grease. Serve hot.