You shouldn't run into conclusions on which club will be in the finals. Liverpool is still hopeful than Arsenal, because Tottenham only scored one goal. If Liverpool can win with two goals ahead, they will definitely be in the finals because Tottenham is not consistent. Arsenal might not qualify to the finals, because they need three goals to be in the finals and Newcastle is consistent in their matches.
For Liverpool, there is still a chance and possibility to qualify when Liverpool hosts Tottenham at Anfield in the EFL Cup this season. As for Arsenal, I myself am still a bit doubtful because the team that was unable to win at home when hosting Newcastle. So it will be a bit difficult for Arsenal to win by many goals when Arsenal plays at Newcastle's home in the EFL Cup semifinals, although it is not impossible for Arsenal fans to hope for.