The Spanish right-back wants to leave the club this summer and re-join Real Betis.
Bellerin was on loan at his home-town club last season, where he excelled.
Now he wants to make the move back to Betis, but they do not want to pay a significant transfer fee for his signature.
According to El Chiringuito TV, the 27-year-old is instructing his agents to secure his exit from Arsenal as soon as possible.
The Gunners may be willing to give him what he wants, as it would get his wages off their books.