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Danny Murphy and Ian Wright believe the fragile atmosphere around Arsenal at present means Liverpool are in a better place than the Gunners going into Super Sunday.
Arsenal, who were beaten 1-0 by Stoke on Saturday, are preparing for a season without Champions League football for the first time since 1997 after their fifth-place finish last term.
They go to Anfield on Super Sunday to face Liverpool, who beat Crystal Palace 1-0 on Saturday, and former Reds midfielder Murphy insists the atmosphere in Jurgen Klopp's side at present trumps that of Arsene Wenger's.
Murphy also admitted the Arsenal fans are "waiting" to pile the pressure on Wenger, and says the FA Cup victory last season isn't enough to make up for years of underachievement.
He said on The Debate on Tuesday night: "It's hard to judge until the window finishes, but as it stands, Liverpool [are in a better place] for me. One of the main reasons is this: playing football at a big club is hard enough, and when the crowd is with you, loving the manager like the do at Liverpool, you get the spring in your step when you go out onto the pitch.
"I'm not sure Arsenal fans have been turned enough by that FA Cup win last season, I don't think they've turned completely and are saying: 'We forgive you, we forgive you!'
"They're waiting, and now they've lost at Stoke, if they go to Liverpool and get turned over, does it all start again [the pressure] at the next home game? You know what it's like playing at a stadium where everything is up for it, compared to thinking: 'If we're not winning after 20 minutes, they're going to be on us!'"
Arsenal legend Ian Wright echoed Murphy's words, saying Gunners games have the feel that they can "erupt" at any minute.
"There's a feast and famine vibe about Arsenal at the minute. I know it's only two games in but you just feel there's something waiting to erupt, that's how I feel now.
"If he can just play the players in their right positions, maybe we can get going. But I just feel quite nervous about every single Arsenal game so far, and it frightens me."
The future of Alexis Sanchez at the Emirates Stadium is still uncertain, and Murphy added that they will have taken a step backward if the Chilean is to leave, despite signing Alexandre Lacazette from Lyon.
Murphy said: "If they keep Sanchez and with Lacazette, they have more firepower. If Sanchez does go, and I don't care how much money they get, you can't replace that type of player at Arsenal.
"That's because all the players in the world that are better than him are at bigger clubs. If he goes they're going to be worse off."
