The Brazilian has a deal with Barca to 2023 and has started preseason with La Masia, though intends to leave this summer.
At Spurs, Neto would arrive as cover for Hugo Lloris, competing with former England goalkeeper Joe Hart as prime cover for the France captain. Spurs are in the market for a new keeper after losing Paulo Gazzaniga.
Meanwhile, Arsenal's situation is more acute after Mat Ryan's loan from Brighton was not renewed. The Australia international has since moved onto Real Sociedad. With doubts over Alex Runarsson, the Gunners need to find prime cover for German Bernd Leno.
For his part, Neto has no preference between the two North London giants, with Barca seeking €14m to sell.
The 32 year-old is hopeful of making the move to England in the coming days.
- updated July 21