With Manchester City snapping on the Gunners' heels, Mikel Arteta's men dropped valuable points for the third game in a row against a spirited Southampton side, having to come from behind to draw 3-3 at the Emirates Stadium.
Arsenal needed to come from behind to snatch a late draw against Southampton thanks to Bukayo Saka's goal in second-half stoppage time.
How it happened - Southampton take two-goal lead
The Saints flew out the blocks and opened the scoring in the first minute thanks to Carlos Alcaraz and the Argentine turned provider 13 minutes later when he set up former Arsenal man Theo Walcott to make it 2-0.
The home fans were shocked at what they had witnessed inside the first 15 minutes, unable to believe how their backline had capitulated so early.
Despite their profligate defending, the Gunners were still attacking with some purpose and fluidity, and they got themselves right back into the contest six minutes later when the ever-impressive Bukayo Saka’s cross found Gabriel Martinelli, who fired home a first-time volley for his 15th league goal of the season.
The Saints’ two-goal lead could have been restored with the half-hour mark approaching, but Ramsdale was alert to make a smart double save to deny Mohamed Elyounoussi and Alcaraz to ensure the deficit remained at one going into the break.
Second half - Goal galore and Arsenal comeback
Despite being well on top after the break, the home side failed to take their chances, and they were dealt a killer blow with less than half an hour remaining.
The unmarked Duje Caleta-Car headed home at the far post from a corner to make it 3-1 to the Saints, sending the travelling faithful into raptures.
Just when it looked like the Gunners had run out of ideas, Martin Odegaard’s goal halved the deficit with two minutes remaining to give them hope, before Saka brought the house down when his effort from close range drew them level.
This set up a thrilling conclusion to the game, which eventually finished level to ironically leave both teams feeling disappointed.