The Red Devils sit four points better off than their opponents after 14 matches, but both sides are essentially playing catch-up on leaders Manchester City, who are well clear of the chasing pack.
Heading into the final international break of the year on the back of a 3-1 loss to Man City, even the most ardent of Arsenal supporters conceded that their side's title hopes were effectively over before a third of the season had been played.
In typical Gunners fashion, though, they have put together a run of victories when it mattered most to usurp North London rivals Tottenham Hotspur into fourth place, while just about retaining some outside hope of ending their top-flight trophy drought.
For that to happen they require the Citizens to hit a serious slump in form, with the pacesetters on course to set a new Premier League record for points won and goals scored at their current rate, though Arsene Wenger will simply be focused on the task at hand.
Three points against one of the two sides between themselves and City - champions Chelsea being the other - is the next target, using their impressive form at the Emirates Stadium to their advantage as they seek a rare win over a fellow top-six club.
The midweek thrashing of Huddersfield Town, when scoring three goals in four second-half minutes to come out on top 5-0, was Arsenal's 12th successive victory on home soil, meaning that one more will equal their club record set at Highbury 12 years ago.
Two or more goals have been scored in their last 10 matches at the Emirates, and they have also kept an equally impressive five clean sheets in the last six - Swansea City midfielder Sam Clucas the only player to find a way through since Leicester City on the opening day.
Arsenal are adapting well to life in the Europa League, with their second-string side progressing through to the last 32 of the competition as group winners, despite losing 1-0 to Bundesliga basement boys FC Koln last week.
That was one of just three defeats in their last 18 games, though it is the other two defeats in that run - away to Watford and Man City - that have already left them potentially battling it out for second. For top spot to remain a realistic ambition, three points are surely a must this weekend.
Recent form in Premier League: WWLWWW
Recent form (all competitions): DLWLWW
Speaking in the build-up to Saturday's showdown, Wenger claimed that he does not expect opposite number Jose Mourinho to adopt an overly-defensive approach at the Emirates Stadium - or 'park the bus', to use a well-trodden phrase.
Mourinho has seen his tactics called into question away to top-six clubs since arriving at United last year, having failed to win any of their six matches in that mini-league against sides directly around them.
Furthermore, the Red Devils have netted just once against the elite sides on their travels - a Wayne Rooney consolation at White Hart Lane six months ago - and were heavily criticised when coming away from Liverpool with a point last month.
Whether or not the abuse was warranted is up for debate, but there is no denying that United must start taking the initiative in these big fixtures if they are to have any hope of catching City - their next opponents - at the top of the division.
The good news for Mourinho's men is that they face the only top-six member club with a worse record than them, as Arsenal have collected 13 points from 14 games in these fixtures since the start of last season - United 14 from one game fewer.
In most other campaigns the Red Devils' tally of 32 points at this stage would also be considered impressive enough, but the form of City has changed all that and they cannot afford to drop further points heading into next weekend's meeting with their noisy neighbours.
United also boast their best goal difference after 14 games since 2000-01, scoring 32 and conceding just eight to give them the best defensive record in the top flight and second best attack stats after - you've guessed it - Man City.
Mourinho admitted in midweek that he was not happy with the complacency shown by his players when sitting comfortably against Watford, only to temporarily give their opponents a route back into the game, while the 1-0 loss in Basel last week also skewed the form guide somewhat.
Twelve games without defeat in all competitions is now three defeats in nine, but the visitors do still remain in a healthy position at home and in Europe heading into this defining period of the campaign.
Recent form in Premier League: LWLWWW
Recent form (all competitions): WLWLWW
Club-record signing Alexandre Lacazette has slowly been finding his feet in North London, netting his fifth goal on home soil against Huddersfield last time out, but a groin injury will see him spend some time on the sidelines.
That has opened up a spot for Olivier Giroud and/or Danny Welbeck through the middle, while Alexis Sanchez is another option should Wenger opt to go down the same route adopted for large parts of last season.
Alex Iwobi is another fitness doubt after missing the win over the Terriers with a dead leg, and at the back Laurent Koscielny is touch-and-go as he does not tend to play three matches in the space of a week.
Arsenal possible starting lineup:
Cech; Koscielny, Mustafi, Monreal; Bellerin, Ramsey, Xhaka, Kolasinac; Ozil, Welbeck; Sanchez
Manchester United possible starting lineup:
De Gea; Valencia, Jones, Smalling, Bailly, Young; Herrera, Pogba; Martial; Ibrahimovic, Lukaku
Head To Head
Arsenal have lost just one of their last five Premier League home games against Man United, including back-to-back wins without conceding a goal.
The Gunners have not won three in a row in this fixture since May 1991, however, and they have only won one of the last three meetings overall when including Old Trafford ties.
This will be the 18th meeting between Wenger and Mourinho, meanwhile with the Portuguese manager losing just two of those - both defeats coming in the last four encounters.
We say: Arsenal 1-1 Manchester United
A draw would not suit either of these sides as far as the Premier League title race is concerned, but the recent form of both suggests that the points will likely be shared this weekend. Arsenal have a good recent record against the Red Devils here, though, and they may just fancy extending their winning home run if Mourinho sets out his team to attack.