Antonio Conte’s Blues are three points clear of the Gunners at the summit of the table after 15 games.
Liverpool then trail Arsenal by three points, while Manchester City occupy the fourth spot.
And Premier League legend Shearer reckons Chelsea and Arsenal are the title favourites due to their strong squads.
“The two settled sides and the two big spines are Chelsea and Arsenal – that’s why they are at the top of the league”
Alan Shearer on Chelsea and Arsenal’s title chances
“You can’t be spectacular in every game. There will be games where you don’t play well,” Shearer said on Match of the Day 2.
“And when that happens, you look to the players that will make a difference.
“Any team that wins the title has to have a strong spine.
“Leicester had that last season and it’s no coincidence that the two teams with the best spine are at the top of the league – Chelsea and Arsenal.
“If you look at Man City, they’ve brought players in to play a different way but it isn’t necessarily working.
“Liverpool are certainly not settled at all.
“But the two settled sides and the two big spines are Chelsea and Arsenal – that’s why they are at the top of the league.”