Former Liverpool midfielder Ray Houghton believes that the talent in the Reds' squad rivals that of Arsenal's.
The Merseyside club, who find themselves in eighth place, are currently 16 points adrift of the Gunners, who are third.
However, despite the points gap, the former Republic of Ireland international does not believe that there is much difference between the two teams.
"I think Liverpool's squad is comparable to Arsenal's," claimed Houghton. "Arsenal lost two of their best players in [Samir] Nasri and [Cesc] Fabregas and look at the poor start they had.
"I wouldn't look at Arsenal's defence and say it is any better than Liverpool's. If you are looking at strikers, it is only [Robin] van Persie who has been the real difference. He has been scoring goals freely, while Liverpool's strikers have struggled. [Luis] Suarez had a good start but really since his ban we haven't seen the best of him.
"In midfield, Steven Gerrard was out for some time, he has just come back, and they have sturggled to score goals. I don't think it was unrealistic to think Liverpool could finish in the top four."
Liverpool have lost five of their last six league matches.
