The Gunners have kept pace at the top of the Premier League and reached the knockout stages of the Champions League but the second half of the season is where the real test will be.
Whether Mikel Arteta's side can come through those challenges remains to be seen, but with the January transfer window comes the opportunity for the Spaniard to tweak his squad and get it in the best shape possible for the second half of the campaign.
Arsenal spent just under £60million during the last January window on Leandro Torssard from Brighton, Jorginho from Chelsea and Jakub Kiwior from Spezia, with Stan Kroenke following that up with almost £200million more during last summer's window.
Folarin Balogun's move to Monaco and Granit Xhaka's move to Bayer Leverkusen brought in some funds in the opposite direction this summer, but how much will be made available for Arteta to spend during January? We've taken a look at what could be the best possible outcome for the Gunners in the winter transfer window.
Sign a striker
More firepower is needed at the Emirates Stadium and there is a growing demand for a striker to be signed in January. Who that centre-forward could be is up for debate, but the Gunners' number one choice should probably be Brentford's Ivan Toney.
The England international cannot play until January 24 due to his FA ban for breaching betting rules but he would be an excellent addition to Arteta's squad as someone who is already well accustomed to playing in the Premier League. With Toney's contract with the Bees set to run out in 18 months, this could be one of the last chances the west Londoners have to cash in on their star.
Another option is Victor Osimhen, though the Nigerian forward would likely cost at least £100million. Chelsea also seem to be leading the way for the Napoli forward, which would give Arsenal a better chance of focusing on Toney.
Sell up
Getting players off the wage bill and having some extra incoming funds would no doubt help Arsenal complete their goals, so it could be the end of the road for some of their first-team squad.
Aaron Ramsdale has been displaced by David Raya in goal and could be sold in January in a move that will hopefully suit all parties. The England international can still fetch a good fee but finding a buying club might be hard. Nonetheless, selling Ramsdale would no doubt be good for the club's coffers and the dressing room.
Another that could leave is defender Cedric Soares or forward Reiss Nelson, while Newcastle United were at a point said to be looking at a January move for Emile Smith Rowe which, given his lack of game time, could be another way for the Gunners to bring in some cash in the new year.
New deals
Arsenal have most of their best stars tied down to decent contracts, with Buakyo Saka, Gabriel Martinelli, Gabriel Jesus, William Saliba and Grabiel Magalhaes all on deals until 2027.
Although that's a long time away, it would round off the January window perfectly if the Gunners managed to convince some of those stars to commit for an even longer period, protecting their market value and giving Arsenal more years of their brightest and best.
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