Arteta's men, who finished second in the English top-flight in the past three seasons, have a six-point lead at the top of the standings and have not lost any of their last 10 matches in all competitions.
They are also top of the table in the Champions League with six wins from six matches, have reached the FA Cup fourth round and clinched a 3-2 win at Chelsea in the first leg of the League Cup semi-finals on Wednesday.
"We are building very good momentum and belief comes from performances and the level of consistency we have shown throughout 32 games this season," Arteta told reporters before Saturday's Premier League trip to Nottingham Forest.
"What we did the other day at Stamford Bridge should help us to be very convinced that we have the ability to do that.
"But the reality is you have to show it in every game. There is still so much to happen. But we are glad that we are still alive in the four competitions."
Arsenal drew with champions Liverpool in their previous league game, and Arteta was wary of Forest, who are 17th in the standings but have recovered from a terrible start to the season since they appointed manager Sean Dyche in October.
"A top coach. Really good at what he does. You can see straight away his fingerprints, the way they play, some of the results they got against big teams as well, how difficult they make it," Arteta said.
"With Sean, they are different. Very efficient in what they do with a clear identity. That is what makes them dangerous."