Arbeloa, 43, joined Fulham in the summer following a tumultuous few months as Real Madrid’s interim manager.
The appointment hasn’t quite gone to plan with the west London club sitting in 20th with just two points from their opening six games.
According to TalkSPORT, with pressure starting to mount on the Spaniard, Fulham are already looking at potential replacements.
Former Tottenham and Brentford boss Frank, 53, has emerged as the leading candidate, but his salary demands could prove to be an issue.
Frank’s stature in the game took a big hit following his time at Tottenham and has been out of work since being sacked by the north London club.
Kieran McKenna, who made the shock decision to quit as Ipswich boss following their promotion back to the Premier League, is also a candidate.
It was widely reported that McKenna was a target to replace Marco Silva before Fulham opted to move for Arbeloa.