In fragmented landscapes, the reduced connectivity among patches drives the evolution of movement strategies through an increase of transience costs. Reduced movements may further alter heterogeneity in biotic and abiotic conditions experienced by individuals. The joint action of local conditions and matrix permeability may shape emigration decisions. Here, we tested the interactive effects of predation risk and matrix permeability on movement propensity, movement costs and movers’ phenotype in the common toad Bufo bufo. In a full-crossed experimental design, we assessed the movement propensity of juveniles in three connectivity treatments (from poorly to highly permeable matrix), with or without predation risk in their living patch. We also assessed the relationships between movement propensity and morphological traits (i.e. body and leg length) and how it affected the movement cost (i.e. mass loss). Movement propensity increased in presence of predation risk, while matrix permeability had no effect. However, matrix permeability interacted with predation risk to influence movers’ phenotype and the physiological cost they endured while moving. In particular, a well-known movement syndrome in toads (i.e. movement propensity positively related to longer legs) depended on the interaction between matrix permeability and predation risk and resulted in differences in mass loss among matrix types. Movers lost more mass on average than residents except when they also displayed longer legs or when they crossed the most permeable matrix in the presence of predation risk. Our results show that matrix permeability shapes the physiological cost of dispersal by changing the identity of individuals moving away from local conditions. As the movers’ phenotype can importantly alter (meta)population dynamics, context-dependency of dispersal syndromes should be considered in studies predicting the functioning of human-altered natural systems.