The winger made 44 appearances in all competitions last term as the U's earned promotion back into the Football League.
However, with manager Richard Money having recruited five new players already this summer, Arnold has been granted permission to leave the club on a temporary basis.
The 26-year-old joined Cambridge 12 months ago from Alfreton Town, where he had spent the previous three years.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Port Vale | 16 | 10 | 3 | 3 | 24 | 16 | 8 | 33 |
| 2 | Walsall | 15 | 9 | 3 | 3 | 28 | 15 | 13 | 30 |
| 3 | Doncaster RoversDoncaster | 17 | 8 | 5 | 4 | 22 | 18 | 4 | 29 |
| 4 | Notts County | 17 | 7 | 7 | 3 | 23 | 15 | 8 | 28 |
| 5 | Crewe AlexandraCrewe | 15 | 8 | 4 | 3 | 19 | 13 | 6 | 28 |
| 6 | MK Dons | 16 | 8 | 3 | 5 | 27 | 19 | 8 | 27 |
| 7 | Chesterfield | 17 | 6 | 7 | 4 | 30 | 20 | 10 | 25 |
| 8 | Grimsby Town | 17 | 8 | 1 | 8 | 19 | 26 | -7 | 25 |
| 9 | AFC Wimbledon | 15 | 7 | 2 | 6 | 23 | 14 | 9 | 23 |
| 10 | Bradford CityBradford | 16 | 6 | 5 | 5 | 21 | 17 | 4 | 23 |
| 11 | Gillingham | 16 | 7 | 2 | 7 | 17 | 14 | 3 | 23 |
| 12 | BarrowBarrow | 17 | 6 | 4 | 7 | 17 | 16 | 1 | 22 |
| 13 | Fleetwood TownFleetwood | 14 | 5 | 6 | 3 | 20 | 15 | 5 | 21 |
| 14 | Cheltenham TownCheltenham | 17 | 6 | 3 | 8 | 22 | 25 | -3 | 21 |
| 15 | Salford City | 16 | 5 | 6 | 5 | 15 | 18 | -3 | 21 |
| 16 | Newport CountyNewport | 17 | 6 | 3 | 8 | 19 | 26 | -7 | 21 |
| 17 | Harrogate TownHarrogate | 17 | 6 | 3 | 8 | 16 | 23 | -7 | 21 |
| 18 | Accrington StanleyAccrington | 16 | 4 | 6 | 6 | 22 | 26 | -4 | 18 |
| 19 | Colchester UnitedColchester | 16 | 3 | 8 | 5 | 19 | 22 | -3 | 17 |
| 20 | Tranmere RoversTranmere | 15 | 4 | 5 | 6 | 10 | 18 | -8 | 17 |
| 21 | Bromley | 15 | 3 | 7 | 5 | 17 | 19 | -2 | 16 |
| 22 | Swindon TownSwindon | 17 | 2 | 7 | 8 | 20 | 28 | -8 | 13 |
| 23 | Morecambe | 17 | 3 | 4 | 10 | 17 | 29 | -12 | 13 |
| 24 | Carlisle UnitedCarlisle | 17 | 3 | 4 | 10 | 14 | 29 | -15 | 13 |
| > League Two Full Table | |||||||||
