The winger made 44 appearances in all competitions last term as the U's earned promotion back into the Football League.
However, with manager Richard Money having recruited five new players already this summer, Arnold has been granted permission to leave the club on a temporary basis.
The 26-year-old joined Cambridge 12 months ago from Alfreton Town, where he had spent the previous three years.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Gillingham | 8 | 6 | 1 | 1 | 12 | 2 | 10 | 19 |
| 2 | Walsall | 8 | 6 | 0 | 2 | 15 | 4 | 11 | 18 |
| 3 | BarrowBarrow | 8 | 5 | 1 | 2 | 11 | 5 | 6 | 16 |
| 4 | Notts County | 8 | 4 | 3 | 1 | 15 | 8 | 7 | 15 |
| 5 | Port Vale | 8 | 4 | 2 | 2 | 13 | 11 | 2 | 14 |
| 6 | AFC Wimbledon | 6 | 4 | 1 | 1 | 9 | 4 | 5 | 13 |
| 7 | Doncaster RoversDoncaster | 8 | 4 | 1 | 3 | 11 | 12 | -1 | 13 |
| 8 | Crewe AlexandraCrewe | 8 | 4 | 1 | 3 | 8 | 9 | -1 | 13 |
| 9 | Chesterfield | 8 | 3 | 3 | 2 | 13 | 6 | 7 | 12 |
| 10 | Fleetwood TownFleetwood | 7 | 3 | 3 | 1 | 10 | 7 | 3 | 12 |
| 11 | Grimsby Town | 8 | 4 | 0 | 4 | 12 | 14 | -2 | 12 |
| 12 | Newport CountyNewport | 8 | 4 | 0 | 4 | 12 | 16 | -4 | 12 |
| 13 | Bradford CityBradford | 8 | 3 | 2 | 3 | 10 | 9 | 1 | 11 |
| 14 | Harrogate TownHarrogate | 8 | 3 | 1 | 4 | 8 | 11 | -3 | 10 |
| 15 | Colchester UnitedColchester | 8 | 2 | 3 | 3 | 12 | 14 | -2 | 9 |
| 16 | Salford City | 7 | 2 | 3 | 2 | 4 | 6 | -2 | 9 |
| 17 | Tranmere RoversTranmere | 7 | 2 | 3 | 2 | 3 | 7 | -4 | 9 |
| 18 | Bromley | 8 | 2 | 2 | 4 | 10 | 12 | -2 | 8 |
| 19 | MK Dons | 8 | 2 | 2 | 4 | 7 | 10 | -3 | 8 |
| 20 | Cheltenham TownCheltenham | 8 | 2 | 1 | 5 | 9 | 13 | -4 | 7 |
| 21 | Swindon TownSwindon | 8 | 1 | 3 | 4 | 8 | 12 | -4 | 6 |
| 22 | Carlisle UnitedCarlisle | 8 | 2 | 0 | 6 | 10 | 17 | -7 | 6 |
| 23 | Morecambe | 8 | 0 | 3 | 5 | 6 | 11 | -5 | 3 |
| 24 | Accrington StanleyAccrington | 7 | 0 | 3 | 4 | 8 | 16 | -8 | 3 |
| > League Two Full Table | |||||||||
