Andre Villas-Boas's side are currently one place above the Gunners in the Premier League in fourth, which if the season were to end today would see Spurs qualify for the Champions League.
Bale told The Sun: "I think five or 10 years ago Arsenal were always miles ahead of Tottenham. But that has changed in recent years.
"Over the past few seasons we have closed that gap and I think now we have overtaken them on the pitch. I think we have the stronger squad."
Tottenham face West Ham United on Monday as they look to extend their lead over Arsenal to four points.