The Gunners have reportedly been interested in a move for the former Barcelona midfielder this January, but Juventus' demands could be set to scupper their interest.
Sky Sports Italia claim that the Italian outfit will only sanction a move for the 25-year-old if they are given Arsenal's Ghanaian midfielder in return.
After struggling for form and fitness for much of his Arsenal career, Partey has been important to Mikel Arteta's side so far this season, featuring in 16 Premier League games to this stage, before heading off to represent Ghana at the Africa Cup of Nations this month.
With Arteta rumoured to be interested in adding more depth to the centre of midfield, a swap deal with Juventus seems unlikely, particularly with the growing importance of Partey in his starting 11.
Meanwhile, Arthur's contract in Turin expires in the summer of 2025, and he has featured in just eight Serie A matches so far this campaign, of which only four have been starts.