The 25-year-old winger is closing on a move to Chelsea from Leeds in the ongoing transfer window.
Chelsea are closing in on agreeing a fee with Leeds and are also looking to work out personal terms on a contract with the player.
The club are in talks with his representatives and Raphinha has a lucrative offer on his table from the west London club.
According to Italian broadcaster Sportitalia, Chelsea have offered a deal worth €6m per year to the Brazilian winger.
The negotiations are still ongoing but Raphinha is close to reaching an agreement with the winger.
Once the Brazilian gives his nod of approval to the contract offer, Chelsea will have overcome a crucial hurdle in the swoop.
Chelsea have indicated to Leeds that they are prepared to make an offer the Whites would likely accept.
It remains to be seen how Arsenal respond to Chelsea pressing on the accelerator.