Arsenal are likely to go big for a midfielder in the summer, and picking up a winger on a free transfer would be an easy way to free up funds.
The Gunners have also been focusing more on Premier-League-proven players in recent windows, adding Aaron Ramsdale, Ben White, Oleksandr Zinchenko, and Gabriel Jesus to the starting lineup, as well as players like Leandro Trossard and Jorginho.
Zaha is 30 years old and has seven goals and three assists in his 26 games this season.