The Gunners want Raphinha and have already seen a proposal rejected by Leeds, who viewed it as much too low.
It is suggested that Leeds want a fee of £65m to let Raphinha depart, significantly higher than the initial £42m they have accepted from Manchester City for Kalvin Phillips.
Arsenal are looking to get an agreement for Raphinha over the line and will increase their bid to around the £50m mark.
The Emirates Stadium outfit hope that will be enough to cause Leeds to accept and let Raphinha make the move to the capital.
Raphinha is also wanted by Barcelona, while Chelsea and Tottenham Hotspur hold an interest.
Arsenal though feel that Raphinha wants to join them and are looking to wrap up the deal.
While Barcelona looked to be the front-runners for Raphinha’s signature, they are gripped by continuing financial issues and the jury is out on whether they can afford the winger, with keeping Ousmane Dembele on a new deal more of a priority for coach Xavi.
Leeds are prepared to let Raphinha move on if they receive what they see as a fair offer.