United and Arsenal are no strangers to a swap deal, after the Red Devils signed Alexis Sanchez last January, with Henrikh Mkhitaryan as part of the exchange.
Mata’s odds of a move to Arsenal have been slashed from 8/1 to 7/4 overnight.
The Spaniard fuelled transfer rumours after praising Emery as a coach, after the pair worked together at Valencia from 2008-2011.
Meanwhile Ramsey is now just 4/1 to move to Old Trafford after saying he will run down his Arsenal contract.
Alex Apati of Ladbrokes said: “No strangers to a swap deal, it looks as though Arsenal and United might do business again when the transfer window reopens.”
Mata would be returning to the capital after living in London for three years from 2011-2014 while at Chelsea.
Meanwhile Ramsey is also heavily tipped to join any club in Italy at 6/1 with Bet Victor.
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