Arsenal's 3-1 win over Leicester City extended the Gunners' winning streak to 10 matches in all competitions, with seven of those coming in the Premier League.
Since back-to-back defeats to Manchester City and Chelsea to start the campaign, Unai Emery has seen his side improve significantly and they now sit just two points behind the league leaders.
While their current run is impressive, they have not faced an elite team for some time and it's likely to take further progress against that calibre of opposition before they're viewed as legitimate contenders.
Those tough tests aren't far away though, the Gunners meet Liverpool and Tottenham in their next five league games - a span which also includes clashes with Wolves and high-flying Bournemouth.
While the top five spots in the division are separated by just two points, the bookmakers remain fairly confident that the title race is likely to come down to something of a two-horse race.
SportPesa still make Manchester City their imposing favourites for the Premier League, priced at just 4/7 (1.57) after a 5-0 hammering of Burnley on Saturday. While a points tally of 23 doesn't give the holders any room for error at the top, a goal difference of +23 is already at least 10 more than any other team in the division.
Having broken the Premier League scoring record last term, Pep Guardiola's side have wasted little time in racking up the strikes once again and that could prove a significant factor if there is little to choose between themselves and another contender in terms of points.
Like their north London rivals, Tottenham can also be backed at 30/1 (31.0) having won each of their previous four league games.
Manchester United should take plenty of credit for their 2-2 draw at Stamford Bridge last time out but Jose Mourinho's side still sit nine points off the pace and are a massive 100/1 (101.0) to win the Premier League this season.Get the latest Premier League odds with SportPesa