The Gunners are locked in talks with Leeds over a £50m-plus deal for the Brazil international.
And in a past Players' Tribune entry, Raphinha has confessed hopes of playing for Arsenal: "I'd be watching the Prem with my dad on the free-to-air channels. Henry was flying, man. The runs, the finishes, it was crazy.
"I also remember that the stadiums were always full. The songs, the shouts. The noise. I can't remember the details, but I was probably sitting in a run-down bar somewhere in Restinga when I made the vow.
"One day I'm going to play there."