They have failed in the EFL League and the Champions League, currently their only chance is in the Premier League, so their focus right now is really only to lift the trophy this season and of course there is a big possibility for them to be able to get it. Although in the standings, Arsenal's points are not too far behind Liverpool's, but to be able to overtake Liverpool's position at the top of the standings is very unlikely for Arsenal because I am sure Liverpool's players will return with their best performance when they return to compete in the next nine matches.
Liverpool suffered a sad fate, it seemed that they could not stand praise, because many people put them as one of the favorite teams in the Champions League, Carabao Cup and the Premier League. I am not sure, whether the decline in their performance is because the effect of the slow management takes an attitude regarding the future of three important players, M Salah, Van Dijk and Trent Alexander Arnold.
Liverpool played well in many matches this season, but in important moments they suffered defeat, it was clearly very disappointing. The Premier League is now the only chance left, with a 12-point advantage, they should be able to win the trophy at the end of the season. Arsenal will certainly continue to try to put pressure, but I don't see they will succeed in overtaking Liverpool.