Gunners boss Unai Emery is managing the club through a crisis at the back after Laurent Koscielny and Sokratis Papastathopoulos went off injyred in the 3-1 defeat by Manchester United last Friday.
Meanwhile, Sokratis will be out for a month after jarring his leg.
Emery is already without long-term casualties Rob Holding and Hector Bellerin and the Spaniard is preparing for a hectic February that sees his side play six times.
And the Evening Standard say he is currently scouring Europe for somebody who can help ease their problems.
Chelsea outcast Gary Cahill, 33, is a reported target but they face competition from Crystal Palace and Fulham, who could lure him with an offer of guaranteed first-team football.
Arsenal are struggling to raise funds to sign players in the winter window so are looking for loan deals that can be made permanent in the summer.
However, Cahill is out of contract at the end of the season so any fee would be nominal.
Their financial struggles have seen them run into complications elsewhere, though.
They made a loan offer to Inter Milan for winger Ivan Perisic on Sunday but that was rejected as they want a guarantee that Arsenal will buy him at the end of the campaign.
Perisic is keen on the move and handed in a transfer request in a bid to force a move.
The Croatian, 29, has previously said it is his dream to play in the Premier League and came close to going to Manchester United after the World Cup last summer.
Arsenal are facing a similar situation with Barcelona’s Denis Suarez, 25, with the La Liga giants stalling on the deal as they are reportedly unhappy with the terms on offer.
The Spanish midfielder was expected to make the switch to the Emirates at the start of January but it looks as though that deal will go right to the wire.
Emery has made no secret of his desire to bring in some new faces and he made what looked like a plea to the board ahead of their clash with Cardiff on Tuesday.
“This transfer window is not easy,” he said.
“The message is the club is working on different players and the possibility if it can be good for us.
“We are looking at two different players and the possibility they can come.