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.
When the match is played with two legs, then of course there will still be a chance for the team that lost the first leg. After all, the team that lost in the first leg also at least has the quality to make a comeback in the second leg later. About Arsenal, despite losing 2-0 in the first leg but yes, I am personally still quite confident Arsenal are also able to make a comeback in the second leg later although indeed, of course it will be very difficult to beat Newcastle with an aggregate of two goals like that. But about Liverpool, because they only lost with a thin score of 1-0, then of course Liverpool still have a very big chance to beat Tottenham in the second leg later.