"It's still an open race but Arsenal have had a great start and they're the ones we are chasing at the moment," Ferguson told the Daily Star.
"I know challenging for a title is a new experience for a lot of their players, but some of them have been there before and the manager has, and that is a big help.
"People said the same about us last year, but we led the league for three-quarters of the season, so I don't think it's a handicap."
He also admitted that not playing in the Carling Cup has helped the preperations.
"It is a good thing having a free week. We have some work to do," he said.
"For instance, last Saturday against Middlesbrough was Owen Hargreaves' first game back, and we will get him freshened up and get him some good training. He will be OK for Saturday.
"Anderson got a little knock but he, too, will be OK. We didn't get any further injuries so things are looking better."