It seemed the Gunners were about to go seven points clear of second-placed Liverpool when club record signing Mesut Ozil fired them into the lead with just 10 minutes left at the Emirates Stadium on Sunday.
But four minutes later Everton, fresh from a win away to champions Manchester United in midweek, equalised when Gerard Delofeu smashed he ball home from 10 yards.
The point kept Everton in fifth place.
Earlier, relegation-threatened Fulham gave Rene Meulensteen his first win as their manager with a 2-0 victory over Aston Villa at Craven Cottage in the Premier League on Sunday.
Steve Sidwell put the home side in front in the 21st minute when he scored against his old side after lofting the ball over the advancing Brad Guzan.
Fulham, who previously hadn't scored two goals at home all season, then doubled their lead through a controversial penalty nine minutes later.
Alex Kacaniklic broke clear and charged into the box where he appeared to make the initial contact with Villa's Leandro Bacuna.
But the referee Mike Dean awarded a penalty and Dimitar Berbatov, after selling Guzan a dummy, rolled the ball into the bottom corner.
The victory takes Fulham up one place into the 18th spot, still in the relegation zone.
Sidwell said Fulham were responding well to the influence of Meulensteen, who oversaw the midweek 2-1 defeat by Tottenham Hotspur.
"We've tried different formations since he's took charge," he told Sky Sports.
"There's versatility in the squad, we all put in a shift and hopefully it's working now."
Meanwhile Fulham captain Scott Parker praised the work of Berbatov, who had a hand in both goals.
Berbatov has been linked with a move away from Craven Cottage but Parker made it clear his team-mates wanted the "exceptional" former Manchester United striker to stay with west London side Fulham.
"We all know the quality he has," Parker said. "He was exceptional again today (Sunday) and was on Wednesday."
Asked about the importance of the result, Parker replied: "Massive. We all knew how important today was, we put in a shift and got the three points."
Villa's defeat means both Swansea and Hull will have the chance to leapfrog them into the top half of the table when they meet at the Liberty Stadium on Monday.