Spurs travel to the Emirates for the north London derby on Sunday, with Harry Redknapp's men looking for their first double over the Gunners in 19 years.
Tottenham currently sit in third place, 10 points ahead of their rivals, with the 22-year-old winger suggesting that the team's classy displays this season warrant their league position.
The Welshman told Spurs TV Online: "Over the years Arsenal have been the favourites and they've been above us in the league but now the tide has turned in our favour.
"We are playing some great stuff and I think we deserve to be where we are in the league and we deserve the favourites' tag."
In the same fixture last season, Tottenham came back from 2-0 down to win the game 3-2 and effectively end Arsenal's title challenge.
The former Southampton man thinks that the game, which will be clearly remembered by both sets of fans, proved just how strong their current side is and he is looking to exploit their opponents' defensive weaknesses again on Sunday.
He added: "Other teams before us, if they had gone 2-0 down they would have crumbled but the boys showed that they have character and spirit that day.
"That showed what we can do as a team. Even if we are 2-0 down we know we can come back and win, even in the biggest games.
"We threw everything at them and they couldn't handle it.
"We have to do the same again on Sunday. We have to put all our attackers in the game and concentrate on their weaknesses."
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