Reports broke this week stating Bellerin has decided to leave Arsenal at the end of this season.
PSG is his preferred destination, and Arteta has informed Gunners negotiator Edu to try and get Draxler in return for the Spanish fullback.
"It is our information that Bellerin and his agent have told the club he wants to leave this summer. Arteta has decided we must make the best of the opportunity," Duncan Castles told the Transfer Window Podcast.
"The most likely suitors for Bellerin are PSG. And in that being the case, Arteta has told Edu that given the situation it is more viable to trade players, he has asked Edu to discuss the possibility of a swap deal for Julian Draxler."