Arsene Wenger admits Arsenal are "nowhere near" where they need to be to mount a Premier League title challenge.
The Gunners are just four points adrift of defending champions Manchester City after recording a 2-0 win over Everton on Sunday.
But league leaders Chelsea, who were on Capital One Cup final duty at the weekend, are nine points clear of the Gunners with a game in hand.
"At the moment we are nowhere near to winning the Premier League, and nowhere near close to being in the race," conceded Wenger.
"But what we want is to do as well as we can without speculating on any weakness of any other team.
In pictures - Arsenal 2-0 Everton:
"At the end of the day what is important now for us is to remain consistent."
Despite ruling out any possibility of Arsenal clawing themselves into the title race, Wenger is targeting a second-placed finish.
Manuel Pellegrini's City are in poor form having lost back-to-back games with defeats to Barcelona and Liverpool.
"I just feel you have to do as well as you can until the end of the season," Wenger added.
"At the moment we are too far from Chelsea to say that we are in the title race but you never know what can happen.
"But I speak as well about Manchester City, why should they give up for the title because they have done it, I think two years ago, by being eight points behind."
Wenger takes his Arsenal side to QPR on Wednesday looking for a ninth league win in 11 games.
The Gunners have won each of the two sides' last three meetings by a one-goal margin and the Emirates boss is expecting another tough challenge at Loftus Road.
"QPR is a team that fights not to go down," Wenger said.
"They have 22 points and there are four teams I think who are down there with Leicester (City) with 17 or 18.
"So there are four teams at the moment who are around there, one of them will get out, maybe two, and so you expect the commitment and the fight that you get from teams that fight not to go down."
Wenger also reserved a special mention for Spurs legend Dave Mackay who passed away aged 80 after a long battle with illness.
He said: "He's an iconic figure of British football.
"He contributed of course a lot to Tottenham's success at the time, he played with Derby (County) as well, he was a great player.
"So we're sad to see these people disappear and you just think sorry and you realise that it is of course a sad moment for English football."