No and the epic xfers cost one token fragment also. Also keep in mind it's limited in which you can swap for just like cannith essences. For example I can trade scrolls for goblets, goblets for shards, shards for scraps and scraps for scrolls.
To just run one challenge to get the items you want would take way more ingredients than to just farm each one seperately.
To get the 600 goblets and scrolls just of running picture portals that I would need for a tier one spare hand you are looking at 5400 goblets. And then you still have to go get armor fragments which you cant get at all from picture portals. Then you can do the same for tier 2 and 3 plus 9000 more for the tokens for each slot and add another 1500 for the 5 tokens to make tier 3. So you got 19500 epic goblets and the 5400 regular goblets and then 600 regular scraps and 1200 epic scraps too.