Liverpool have a more consistent performance than Real Madrid. And if it is a big match I think the chances are 50:50 because both teams are often favorites. But with their current form I think Liverpool are more favored to win this match. Arne Slot can really maintain Liverpool's performance which is even better than the previous season.
But if we talk about UCL I still favor Real Madrid to be the champion this season. Just like the previous season where City were favored to win the UCL but in the end Real Madrid won.
The chances of winning both 50:50 can be possible but the odds offered by the bookies are completely different where Real Madrid has higher odds @3.60 and Liverpool @2.00 a really far difference but I know Real Madrid is currently declining a little compared to Liverpool which is quite consistent.

I will probably bet on Liverpool with a single bet. Believe that Liverpool playing at home will be much more aggressive with their performance.
As far as we know Real Madrid has an unpredictable comeback, it is surprising that Liverpool has experienced it.