When: Wednesday, May 12, 20:15 GMT
How to watch: Sky Sports Main Event
However, with the Gunners enjoying two successive Premier League victories, they are still within touching distance of the Europa League and the newly created UEFA Conference League.
Dropping down to the third tier of European football would be rather embarrassing, but claiming a spot back in the Europa League could restore some pride in Arsenal's truly woeful campaign.
A win over Chelsea is pivotal if the Gunners are to challenge for the top six however, that's certainly easier said then done considering the Blues are in outstanding form.
Last Three Matches
Arsenal 3-1 Chelsea (Premier League - December 26, 2020)
Frank Lampard was in charge of Chelsea when they last visited the Emirates stadium.
On that day, it was the Gunners who claimed London supremacy in a comfortable 3-1 victory.
First half goals from Alexandre Lacazette and Granit Xhaka gave Arteta's men a comfortable lead. A 56th minute goal from Bukayo Saka extended that advantage even further.
Tammy Abraham got a goal back for the visitors in the 85th minute before Jorginho missed from the spot in stoppage time.
Arsenal 2-1 Chelsea (FA Cup - August 1, 2020)
Arsenal put on a brilliant tactical display as they beat Chelsea 2-1 at Wembley to lift the FA Cup - Arteta's first trophy as manager.
Christian Pulisic gave the Blues a dream start when he bagged the opener in the fifth minute of the game.
Pierre-Emerick Aubameyang hit back on the half-hour mark before striking the winner in the 67th minute.
Chelsea's Mateo Kovacic was sent off towards the end of the game as Arsenal held out to take the cup.
Chelsea 2-2 Arsenal (Premier League - January 21, 2020)
When the two clubs met in early days of 2020, fans were treated to an entertaining encounter at Stamford Bridge.
David Luiz was sent off for the Gunners in the 26th minute before a well converted penalty from Jorginho saw the Blues go in front.
Martinelli grabbed the equaliser in the 63rd minute however, Arsenal soon fell behind again as Cesar Azpilicueta put Chelsea back in the lead.
Nevertheless, an 87th minute goal from Hector Bellerin salvaged a point for the Gunners.
Last ten head-to-heads
Chelsea wins: 3
Arsenal wins: 4
Chelsea goals: 17
Arsenal goals: 19
Chelsea have other priorities
With the FA Cup final taking place this weekend, Chelsea could opt to make some changes ahead the Arsenal game.
With a lot of strength in depth, Chelsea won't exactly field a weakened squad. What's more, with the Blues in outstanding form, it's hard to see them losing against this struggling Arsenal outfit.
Bearing everything in mind, backing the draw might be the way to go in this one.
Timo Werner hasn't turned out to be the goalscoring machine that many believed he would be.
Nevertheless, the German did recently bag a goal against Real Madrid and he could provide a serious threat to that Arsenal defence.
Speaking of the Gunners, their man in form is Nicolas Pepe. The youngster has scored in three of his last five starts and he's well priced to get amongst the goals again.
As things stand, he's 17/4 to score anytime with Unibet.