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While a dress rehearsal for next month's Carabao Cup final, both teams' focus will be fully trained on this evening's encounter.
Liverpool moved 11 points clear at the top with a magnificent 2-0 victory at defending champions Manchester City on Sunday.
And, before the final whistle is sounded on tonight's game, the Reds will know if they have the chance to open up an even bigger gap on Arsenal.
That's because the second-placed Gunners travel to third-placed Nottingham Forest in one of the 7.30pm kick-offs.
Newcastle moved up to fifth and level on points with fourth-placed City with a hard-fought 4-3 victory at home to Forest on Sunday.
So, like their hosts, they have plenty to play for this evening.
And, of course, whoever comes out on top may well carry a psychological boost going into the Wembley showdown on Sunday, March 16.
Paul Gorst, Ian Doyle and Theo Squires are in place at Anfield to bring you all the pre-match build-up, including team news when it drops at 7pm, followed by an in-game commentary stream and then the best post-match reaction and analysis.
For more news relating to Newcastle United, visit our sister site NUFC Latest Live.