The 28-year-old Caldentey is a two-time Women’s Champions League champion with Barcelona and a World Cup champion with Spain in 2023.
The Spanish champions and Arsenal are reportedly at odds over a contract, and in recent weeks, Arsenal’s interest has reportedly grown.
It is unlikely that anything will happen until after Barcelona’s matchup with Lyon on May 25 in the Women’s Champions League final.
Arsenal announced on Monday that Vivianne Miedema, a striker from the Netherlands, will be leaving the team after not receiving a new contract offer. Manchester City is expected to pursue her.
Caldentey is thought to be a capable substitute for Miedema, and Arsenal may have a busy summer as they get ready to bid on Daphne van Domselaar, the goalkeeper for Aston Villa.