The defensive pair both came off injured as Liverpool were knocked out of the Champions League by Paris Saint-Germain on Tuesday night.
Konate left in the 111st minute of the penalty shoot-out defeat, while Alexander-Arnold was seen emotionally covering his face when he came off in the 73rd.
The Reds now have the chance to avenge their European exit with a first trophy of the season at Wembley on Sunday against Newcastle.
Their treatment room is currently made up of four defenders with Joe Gomez and Conor Bradley also sidelined.
However, Konate's return would bring the list down to three, although without Alexander-Arnold and Bradley they will be short at right back, where England call-up Jarell Quansah may have to fill-in.
read more liverpool news
Unseen footage shows Salah was only player not to console Nunez after penalty miss
Liverpool set to play friendly in Australia days after Premier League season ends
Newcastle are similarly hamstrung, with four first team regulars out of the tie.
Lewis Hall is out for the season after ankle surgery, while centre backs Sven Botman and Jamaal Lascelles are unlikely to return until May.
Anthony Gordon, meanwhile, will miss the match against his boyhood club, having been sent off for lashing out at Jan Paul van Hecke during an FA Cup final defeat to Brighton.
Alexander-Arnold's injury could well be the most consequential, though, with the playmaking right back potentially playing his final game for Liverpool.
Most read in EFL Cup
How to watch Carabao Cup final for FREE as Liverpool take on Newcastle at Wembley
What time is the 2025 Carabao Cup final? Liverpool vs Newcastle kick-off in original slot
Liverpool dealt injury blow ahead of Carabao Cup final as Newcastle look to end drought
Do the Carabao Cup winners get European football? Liverpool and Newcastle prepare
The 24-year-old is one of three impending free agents at Anfield, but hasn't discussed his future unlike Virgil van Dijk and Mohamed Salah.
That's led to intense speculation over a Real Madrid switch, with sections of the Spanish media claiming a verbal agreement has been reached.
Some fan clips appeared to show Alexander-Arnold in tears when he went down injured, and with ten games to play, that could be bad news.
Offering an update of sorts post-match, Arne Slot said: "With Trent, he had to come off. That's never a good sign.
"And from what I heard… that didn't look very good. So, I would be surprised if he was available for Sunday."
Mohamed Salah and Trent Alexander-Arnold in training ground 'bust-up'