With the current turn of events and the January transfer window fast approaching, Arsenal could see the exit of its experienced Russian winger Andrey Arshavin and the entry of German club Schalke 04's Peruvian striker/midfielder Jefferson Farfan in a swap deal.

According to German media, the Bundesliga are not willing to let the Peruvian international go. Farfan is unlikely to sign a new deal for nothing when his contract expires at the end of the current season. The club, however, is looking for a readymade replacement and has targeted Arsenal's Andrey Arshavin in exchange for the Peruvian.

The Gunners have tagged Arshavin to a £15-million price tag, which is similar to Farfan at Schalke, and now it is being thought that the Arsenal boss Arsene Wenger is considering a swap deal that will see the Russian winger, who is no longer guaranteed even first team regular football, leave the Emirates stadium and the inclusion of Farfan from Veltins-Arena.

Arshavin has made just five Premiership starts for the club and has found both Theo Walcott and Gervinho ahead of the line in the picking order. Only recently did he threaten that he would leave the club if he continued to remain on the bench.

The Russian has less than 18 months in his contract with the Gunners, according to a Caughtoffside report.

Jefferson Farfan, 27, who arrived at Schalke from Dutch club PSV Eindhoven in 2008, has made 97 appearances for the German club and has managed to score 21 times. During his stint with PSV (2004-2008), he managed to find the back of the net 57 times in 119 games.

He has also made 42 appearances for Peru.