Marseille appeared primed to seal the 25-year-old striker's signature earlier this month before reportedly withdrawing from the frame due to his £25.5million price tag.
Bournemouth have also been linked with a move after selling Dominic Solanke to Tottenham Hotspur but on Thursday agreed a club-record £40m deal to sign Porto striker Evanilson.
On the eve of the Premier League season, it has left Nketiah's future in limbo, despite Arteta's assurance that he will have a role to play if he remains a part of his squad.
"All the players that are here, that's the biggest chance that they'll stay with us. That's why they're here," the Spaniard said after Nketiah was an unused substitute in Arsenal's 2-0 win against Lyon last week.
But Arsenal are expected to cash in if the opportunity arises, and Crystal Palace are reportedly circling Nketiah as Oliver Glasner explores attacking firepower.
According to Sky Sports, the Eagles are assessing the conditions of a potential deal as they seek to replace the goals and assists of Michael Olise.
The 22-year-old winger joined Bayern Munich for a fee in the region of £50m earlier this summer, leaving a void in Palace's frontline.
If Palace's interest in Nketiah snowballs in the coming days, Arsenal wouldn't be wrong to make an opportunistic attempt to include Eze in a part swap agreement.
Eze was among the Premier League's most exciting attackers last season, registering 11 goals and four assists in 24 Premier League starts.
The 26-year-old had been strongly linked with Manchester City, but the champions' interest didn't advance. Arsenal could land an early blow to their title rivals by luring him to the Emirates Stadium.
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