However, Arteta acknowledged an FA Cup semifinal against Manchester City still offers them a chance.
He said, "Points wise it's a massive blow because we know the results this weekend. But we will keep trying while we have any hope. This is who we are at the moment and we will fight in two different ways - one is the league and the other is the FA Cup - to do our best to finish as strongly as possible."
Arteta also insisted Sunday's result can only be a blip.
"Yes. If we minimise the mistakes that we do and we keep playing like that, we're going to win many, many, many football games. Because we're going to make it really difficult for the opponent. I'm sure of that. But these two aspects, one has to be maintained and the other one has to be avoided and it's on us.
"They believe in what we're doing. You can see how they are trying and how they are going. It's a shame because if you are able to win that well in such a big ground, on such a big stage as with today, it gives you big belief. I am gutted as well for them because they really tried."