I would go so far as to say that it is absolutely imperative that Liverpool beat Arsenal this weekend. The difference in winning this match and not winning this match is huge.
If Liverpool were to beat Arsenal, and Chelsea and City both won (though I think Newcastle actually might hold Chelsea to a draw anyway), then the points for the top 4 would be 56, 56, 55, 50. A 6 point spread.
If however Arsenal beat Liverpool, and Chelsea and City won, the top 4 would be 58,56,56,47 (or maybe even 58,56,56,48 if everton won and jumped above Liverpool) , which is an 11 point spread.
Its a huge difference. 6 points behind the leaders, or 11 points behind the leaders.
Its a massive, massive game for Liverpool and imo , a MUST win.