Manuel Pellegrini's team have lost four league matches on the road, and the Frenchman believes that the Gunners' consistency both home and away could prove to be the difference between the two sides.
"They are the team of the moment so everybody is drawing definite conclusions," the Daily Mail quotes him as saying.
"I don't deny their strength, quality and the exceptional players they have. But let's not forget they have lost four away games.
"Yes, they are the favourites. But they have more difficult fixtures. We know we can do very well away but, since December, I've said to the players that the Emirates will decide our season."
City are currently a point clear of second-placed Arsenal at the top of the league table.