It would be extraordinary if Arsenal could beat Manchester City when they visit the Etihad Stadium at the end of this month, but I don't think that Manchester City will immediately lose when they host Arsenal at the end of the month unless many of Manchester City's key players are injured. Because as long as there are still many key players from Manchester City who are fit enough to play, it will be quite difficult for Arsenal to beat Manchester City at the Etihad Stadium.
It is not impossible that Arsenal can get points against Man City. Arsenal have performed perfectly in the last 5 matches, they won all the matches. Meanwhile Man City already got 2 draws in the last 5 matches. However, it won't be easy to beat Man City at their home, specifically when they can play with their best lineup. I don't see any player of Man City injured anymore, it means all the players are ready for the next match. Honestly, I don't think Arsenal seems to beat Man City with their current condition. I only assume that Arsenal could force Man City to get a draw result at the end of the match.
If Man City and Arsenal got a draw in the next match, Liverpool will get the advantage. Liverpool will be in the top of EPL standings again. IMO, this is very possible to happen because Man City and Arsenal are in their good shape, they will try to play with their best and avoid to lose points. A draw is the most realistic result for the match.
The tension in each match increases greatly between Liverpool, Manchester City and Arsenal. These three teams are both fighting to win each match, but in the end the result of the match is difficult to predict even though these three teams will make each match the final match until the end of the season.
Talking about performance, I admit that Arsenal is more consistent than Manchester City, but the chances of Manchester City beating Arsenal are much higher. Manchester City is playing at home and they have a home advantage which they can make good use of. There's no underestimating any of the three at the moment, especially since the points gap is so close.