The phrase "with bated breath" means to wait in eager anticipation, holding one's breath in suspense or nervousness. Some synonyms that can be used in place of this phrase include breathlessly, tensely, anxiously, expectantly, and attentively. Other options include with held breath, in a state of nervous excitement, or on tenterhooks. These expressions convey the same sense of eager anticipation or nervousness that comes with waiting for something important or exciting to happen. They can be used in a variety of contexts, from waiting for the results of a test to anticipating the outcome of a sports match or performance.