Bukayo Saka opened the scoring before Virgil Van Dijk levelled for the Reds. Mikel Merino put Arsenal ahead yet again in the second half before Mohammad Salah pegged his side back.
Defending champion Avani Lekhara shot a 625.8 to be placed second and Mona Agarwal shot 623.1.
The Olympic bronze medallist, who remains the last Indian male pugilist to bring home a medal from boxing, expressed his interest in bringing a fight to the shores of India.
Bhaker, who scripted history by becoming the first Indian woman to claim two medals at a single edition of the Olympics at the recently concluded Paris Olympics 2024, shared pictures
Barcelona, who have won three of the past four finals, will also face Austrian champions St Polten and group-stage debutants Hammarby in Group D.