By the time Wenger's team next take to the field - against Wigan on Tuesday week - their London rivals will have each played a game more and may be in significantly stronger positions in the all-London top-four fight heading into the final day of the season.
Arsenal last lost to Tottenham on March 3 and took their unbeaten run to eight games with victory at QPR, secured by Theo Walcott's fastest goal of the Premier League season after 20 seconds. And Wenger said: "It's very tight and it's down to the team who makes no mistake."
He added: "I love it because it's a lot of tension and very exciting. It's demanding as well, because it's not easy. We definitely have momentum, if you look at the points we have made compared to two months ago. We are going for it.
"Away from home recently, we've won everywhere - at Fulham, at Sunderland, at Swansea and at QPR. It was a derby which was difficult to win."
Chelsea's clash with Spurs at Stamford Bridge on Wednesday could go some way to deciding the Gunners' Champions League fate.
"Of course I want a result that goes for us, but again, it's not because I wish something that you will get the result," Wenger added. "A long time ago we focused on us getting the maximum points.
"We have nearly done that because we dropped two points against Everton and two points against Man United (both home draws). Apart from that, we've won every single game (since that defeat to Spurs in early March) and we have to continue to do that."
Walcott took his tally to 20 goals for the season for the first time with his strike in the opening attack of the match at Loftus Road. Wenger cannot recall as swift a goal for his side - it was Arsenal's quickest in the top flight, surpassing Robin van Persie's effort against Sunderland in October 2011 - but lamented the failure to add to the goal.
"Unfortunately I waited for the second goal but it never came," Wenger said. "Going forward we can do better."
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