The England attacker was on the receiving end of a crunching challenge from Renan Lodi early on at the Emirates before setting up Gabriel Martinelli's fifth-minute opener.
Saka was not moving at all comfortably in the early stages, though, going down on the turf once before trying to carry on after receiving treatment.
However, the 21-year-old ultimately had to be replaced by Reiss Nelson in the first half, immediately sparking fears that his participation at the World Cup could be at risk.
Speaking to the press after the game, Arteta was confident that Saka was not suffering from anything more than a sore ankle after a few kicks, although he would still need assessing in the coming days.
When asked if Saka's injury could impact his World Cup chances, Arteta responded: "Hopefully not. It was a bad kick," as quoted by football.london.
"Right from the beginning, he was limping, but I don't see any further than that. Let's see how he is in the next couple of days."
Saka's replacement Nelson put in a terrific shift after coming on for his stricken teammate, scoring a second-half brace and setting up Thomas Partey as Arsenal ran out 5-0 winners in North London, with Martin Odegaard also scoring on the day.
The former England youth international was making his first Premier League appearance since August 2021, and his only previous goal in the top flight had come against Liverpool in July 2020.
Arteta had previously spoken highly of Nelson's talent following his recovery from a thigh injury, and the Spaniard believes that the 22-year-old is "really evolving" in North London.
"I think not only me but all his teammates, all the staff are so happy for him because he is a kid that is really changing, he's really evolving, he's really maturing," Arteta added.
"He's showing every day how much he wants it and today he had the opportunity, and he did extremely well because it helped us win the game. The way he talks, the way he reflects, the way he respects decisions, the way he is challenging everybody every single day.
"He is a joy of a kid. We all want him to be successful and do well. What he has done today for the team is something he really merits.
"The fact we have players that can contribute to winning games is really powerful. That is what we need when we look on the bench, to have players who can change the game. Today he has done it."
Arsenal have returned to the top of the Premier League table after putting five past Steve Cooper's side, taking 31 points from their first 12 games to sit two clear of Manchester City.
The Gunners will now aim to secure a place in the last 16 of the Europa League when FC Zurich visit the Emirates for Thursday's Group A tie, where a win would guarantee a first-placed finish for Arteta's side.