The Croatia international has emerged as a target for the Gunners after talks to sign Denis Suarez from Barcelona hit the buffers.
Inter Milan have snubbed a loan offer from Arsenal for Perisic because they would rather sanction a permanent deal.
And La Gazzetta dello Sport journalist Nicolo Schira claims the two clubs will hold further talks today.
“Arsenal is continuing to talk with Inter for Ivan Perisic (he has an agreement with Gunners),” Schira wrote on Twitter.
“Sanllehi has offered a transfer on loan with option to buy. Marotta prefers to a permanent deal or obligation to buy. Tomorrow there’ll be new contacts.”
Perisic handed in a transfer request on Sunday in a bid to force a move to the Emirates Stadium.
After submitting his demand, the 29-year-old was left on the bench for the 1-0 defeat to Torino.
Inter Milan boss boss Luciano Spalletti was critical of Perisic after the final whistle.
Spalletti said: ”Perisic, it’s simple. As I said yesterday, players can say what they want.
“Of course they’re at the club, they’re paid by us, so you need to have a buyer. He cannot go away for free.
“If he does not want to play as Marotta said, it is clear that he will stay out (of the team). There are no problems, when one cannot make a contribution, it helps to get rid of them.”
Inter Milan director director Giuseppe Marotta is open to selling Perisic.
He said: ”Perisic has asked to leave but there is no offer for him. We will see in the coming days (what happens).
“We will listen to the request of Perisic, he has put in a transfer request; we must try to satisfy him but also respect the value of him.”