The Gunners have reportedly sent scouts to watch the Wolfsburg midfielder, who has been capped by the Germany Under-21s team.
However, Italian giants Juventus are also interested, and are ready to rival Arsene Wenger's side for his signature, The Mirror claims.
The newspaper goes on to say that Arnold, 19, has a £8m buy-out clause in his contract.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Liverpool | 23 | 17 | 5 | 1 | 56 | 21 | 35 | 56 |
| 2 | Arsenal | 24 | 14 | 8 | 2 | 49 | 22 | 27 | 50 |
| 3 | Nottingham ForestNott'm Forest | 24 | 14 | 5 | 5 | 40 | 27 | 13 | 47 |
| 4 | Chelsea | 24 | 12 | 7 | 5 | 47 | 31 | 16 | 43 |
| 5 | Manchester CityMan City | 24 | 12 | 5 | 7 | 48 | 35 | 13 | 41 |
| 6 | Newcastle UnitedNewcastle | 24 | 12 | 5 | 7 | 42 | 29 | 13 | 41 |
| 7 | Bournemouth | 24 | 11 | 7 | 6 | 41 | 28 | 13 | 40 |
| 8 | Aston Villa | 24 | 10 | 7 | 7 | 34 | 37 | -3 | 37 |
| 9 | Fulham | 24 | 9 | 9 | 6 | 36 | 32 | 4 | 36 |
| 10 | Brentford | 24 | 10 | 3 | 11 | 43 | 42 | 1 | 33 |
| 11 | Brighton & Hove AlbionBrighton | 24 | 8 | 9 | 7 | 35 | 39 | -4 | 33 |
| 12 | Crystal Palace | 24 | 7 | 9 | 8 | 28 | 30 | -2 | 30 |
| 13 | Manchester UnitedMan Utd | 24 | 8 | 5 | 11 | 28 | 34 | -6 | 29 |
| 14 | Tottenham HotspurSpurs | 24 | 8 | 3 | 13 | 48 | 37 | 11 | 27 |
| 15 | West Ham UnitedWest Ham | 24 | 7 | 6 | 11 | 29 | 46 | -17 | 27 |
| 16 | Everton | 23 | 6 | 8 | 9 | 23 | 28 | -5 | 26 |
| 17 | Wolverhampton WanderersWolves | 24 | 5 | 4 | 15 | 34 | 52 | -18 | 19 |
| 18 | Leicester CityLeicester | 24 | 4 | 5 | 15 | 25 | 53 | -28 | 17 |
| 19 | Ipswich TownIpswich | 24 | 3 | 7 | 14 | 22 | 49 | -27 | 16 |
| 20 | Southampton | 24 | 2 | 3 | 19 | 18 | 54 | -36 | 9 |
| > Premier League Full Table | |||||||||
