The north London rivalry is more interesting than ever after Tottenham last season managed to finish above Arsenal for the first time since 1995.
There has been an unquestionable power shift since Mauricio Pochettino took charge at Tottenham in 2014.
Despite the bookies suggesting otherwise, Arsene Wenger refused to admit that Arsenal were underdogs in the recent derby - and he was proved right when the Gunners eased to a 2-0 victory.
"I am pleased Arsene has not said that because it is like saying we are in Tottenham’s shadow," said Arsenal legend Wright.
"You cannot expect Arsene to say Arsenal are underdogs in a game against Spurs. Otherwise the fans would be sharpening the pitch forks!
"The tide is turning, though. It seems like Tottenham are progressing and we are almost regressing. They are a bit above us and we have to accept that."
"They [Spurs] are very much in the ascendency in terms of where the club is going," admitted Wright to Standard Sport.
"They've been in the shadow of Arsenal for many years. Something is happening now but they have to win something to cement this greatness."
It has been almost 10 years since Tottenham won a trophy, beating Chelsea 2-1 in the League Cup final in 2008.
Journalist reveals hilarious interaction with Wenger
BBC and BT Sport broadcaster Reshmin Chowdhury tweeted a funny experience she shared with the veteran French manager.
The Gunners, who have already booked their place in the Europa League knockout rounds, are set to face Cologne in Germany on Thursday evening.
Chowdhury, who was interviewing Wenger for BT Sport, revealed the conversation they shared after she admitted to supporting Tottenham.
Arsenal fans on Twitter absolutely loved it.
Wenger at his best!
Arsenal may have comfortably beaten their rivals in Saturday's north London derby but few expect Wenger's side to finish above Tottenham at the end of the season.
Off the pitch, Arsenal's star duo Alexis Sanchez and Mesut Ozil could leave on free transfers at the end of the season.
Both are yet to agree new deals at the Emirates and will be able to negotiate contracts with foreign clubs on January 1.