The Reds were very unlucky not to come away from the Emirates with a win after dominating the first-half which saw Philippe Coutinho crash the woodwork twice and Christian Benteke have a shot saved at point-blank range from Petr Cech.
Nonetheless, there were many positives to take away from the game. Check out the five new things we learned about Liverpool below:
Three games in and myself and many others are finding themselves eating humble pie after the Belgian delivered yet another mighty impressive performance.
Both in the air and on the deck he made a fool of the Arsenal backline and was mightily unlucky to have scored his second goal of the campaign just before the break.
1 in 3 is not the best ratio but considering he's impressed away from home in difficult matches against an ever improving Stoke City and now Arsenal, it won't be long before a favourable run of games comes along and the former Villa striker can really show what he is about.
2) Coutinho is the new go-to-man
Liverpool have always been a club that prides itself on teamwork, but there has always been a select few that managed to claim star roles. From Kevin Keegan and Kenny Dalglish in the 70s, to Ian Rush and John Barnes in the 80s, to Robbie Fowler and Steve McManaman in the 90s, to more recent times which has seen Michael Owen, Steven Gerrard, Luis Suarez and Daniel Sturridge take up the mantel.
However, with Gerrard and Suarez gone and Sturridge perpetually injured, this season was the first time in a very long time the Reds are without a recognised marquee player.
The summer's most expensive signings, Benteke and Roberto Firmino, may in time become those players, but it is too early to speculate as their Liverpool careers get off the ground.
Therefore, someone already established in the Merseyside club would need to step up to fill the void and Coutinho has done that.
Picking up where he left off last season after being voted into the PFA Team of the Year and Liverpool's Player of the Year Award, the Brazilian netted the winner against Stoke City and was a constant menace against Arsenal as he struck the bar twice in the opening 45 minutes.
The playmaker has been one of the most consistent players of 2015 in the Premier League and at the age of 23 looks set to become the big star for the Reds.
Liverpool and the phrase ‘resolute defending’ have not been synonymous with each other since the days of Rafa Benitez, where the current Real Madrid boss deployed Xabi Alonso and Javier Mascherano as holding midfielders in front of a miserly back four.
However, after three games the Reds have kept three clean sheets prompting many to believe their defensive woes are over; hallelujah, it is a miracle! Perhaps those prayers reached Robbie Fowler after all.
Though with most clubs preoccupied with having two flying wing-backs a-la Barcelona (Jordi Alba and Dani Alves), Liverpool were caught up in the hype as Glen Johnson and Alberto Moreno consistently found themselves out of position.
Opposition wingers such as Stewart Downing and famously last season, Yannick Bolasie, would get in behind and attack the isolated centre backs.
As much as the Merseyside club have improved their defence in the summer window, it is unlikely they would have drawn the match with Arsenal had it not been for Lucas.
As per WhoScored, the Brazilian made six tackles and four interceptions as the proclaimed 'best defensive midfielder' at the club, according to manager Brendan Rodgers, marshalled the defence.
The 28-year-old was voted Player of the Year in the 2010-11 season and although such form has been beyond him since a cruciate ligament injury in 2011 against Chelsea, he still remains an integral part of the club as the below stat from last season shows:
5) Jordon Ibe is not ready
Perhaps a victim of heightened expectations ever since his man-of-the-match performance against Everton last season, the former Wycombe winger has been heralded as the next big thing by the Anfield faithful but has so far failed to deliver this season.
The 19-year-old was dropped to the bench on Monday night after starting the first two games against Stoke City and Bournemouth, but amid his introduction against the Gunners he looked bereft of ideas as social media picked up on:
Perhaps it is the heightened expectations or simply a case of getting up to speed after pre-season, but you get the feeling the winger needs one more season out on-loan before he is ready to cut his teeth at a top end club.