They have now won three games in a row after one win in seven.
"We are right there and that's where we want to be. We're really consistent again," Arteta told BBC Radio 5 Live.
Arsenal led by eight points at the beginning of April but a run of four games without a win ultimately cost them in 2022-23.
This time they have bounced back from a run of one win in a month over the festive period. A defeat at Emirates Stadium would have seen them slip eight points behind Liverpool but they are now within touching distance.
"That was more results than performances," said Arteta. "We've been really consistent all season, if not you aren't where we are today.
"We take it game by game, the availability of the squad is going to be crucial.
"We have learned that from last season. Let's try to make that happen.
"It means a lot. Liverpool are an unbelievable team. They're probably the most in-form team in Europe."
Jurgen Klopp's side had not lost a domestic game since 30 September when they were beaten at Tottenham.
"We have come so far and now it is about doing it consistently," said Arteta. "Liverpool have done it for six to seven years.
"It gives us momentum and the way we have done it we are back on it - really excited."
Arsenal dominated the first half and led through Bukayo Saka but just before half-time Gabriel's own goal got Liverpool level without the visitors having a shot on target.
When asked what he said at half-time, Arteta said: "I could feel the pain. I could feel the energy in the dressing room, feeling a bit sorry for themselves. I said that's the last thing we can do because this team will punish you."
'I don't see these teams going to the end'
Former Manchester United captain Roy Keane, watching the game for Sky Sports, does not think either team will win the title.
Manchester City, who have won five of the past six titles, sit five points behind Liverpool, but have two games in hand on the top two.
"I know that Liverpool have had an off day and Arsenal are still nice on the eye, but I still couldn't see these two teams finishing ahead of Manchester City. I just can't," the Irishman said.
"Obviously I've been proved wrong before, but you look where City are, with [Kevin] De Bruyne coming back, [Erling] Haaland's available, I don't see these two teams going right until the end."
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