"It's still an open race but Arsenal have had a great start and they're the ones we are chasing at the moment," Ferguson told the Daily Star.
"I know challenging for a title is a new experience for a lot of their players, but some of them have been there before and the manager has, and that is a big help.
"People said the same about us last year, but we led the league for three-quarters of the season, so I don't think it's a handicap."
He added: "Everything is coming together, as I thought it would, and in good time to take on Arsenal in what could be a key match in our title defence.
"The main thing is I know we will chase them with great fervour and determination."