The 18 year old played for Spain as they finished runners up to England at the Under 17 World Cup back in October.
Miranda has 18 months left on his contract at the Camp Nou, and Barca are trying to secure the full back onto a longer term deal with a higher release clause.
The player’s agent Jose Maria Orobitg is said to be keen for the defender to stay at Barcelona, but there is major concern among the Barca hierarchy about the talent drain at the club’s academy.
Despite the Catalan club snapping up Marcus McGuane from the Gunners in recent days, most of the transfer activity has been outgoing from La Masia. Miranda’s World Cup team mate Sergio Gomez has joined Borussia Dortmund this month while Jordi Mboula left for Monaco last summer.
Although there are financial incentives to leaving Barcelona, a major problem for young players is that first team opportunities have become increasingly scarce in recent years.