Liverpool's right-back is 98 days away from being able to speak with foreign clubs over signing terms ahead of his contract expiry in the summer.
Former Liverpool defender Glen Johnson told Betfred that speaking with Bellingham could be the final straw that pushes Alexander-Arnold into moving.
Jude Bellingham (right) could be the 'final piece in the puzzle' that convinces Trent Alexander-Arnold to join Real Madrid, says Glen Johnson
'The club is 95% of the pull itself but of course, if he speaks to Jude and Jude tells him how great it is there, then that could make his decision final,' Johnson told Betfred.
'Jude could be the final piece in the puzzle when it comes to Trent making his decision, but I believe Trent would be up for the deal anyway, regardless of whether Jude is there or not.'
Bellingham and Alexander-Arnold have become good friends since the former was introduced to the England set-up two years ago, with many wondering whether Liverpool's right-back could persuade the youngster to join Liverpool before he signed for Madrid.
This summer they were seen partying together in LA and they enjoyed a meal at the renowned Nobu Malibu.
Alexander-Arnold recently stated that while his aim is to become the Liverpool captain, the 'most important thing is always trophies'.
This first season under Slot can, then, be seen as a litmus test for whether they are capable of competing for honours like they did under Jurgen Klopp.
Johnson added: 'If you go to Real Madrid, you’re guaranteed trophies. That’s a fact. Liverpool aren’t guaranteed trophies, but they’re very capable of winning them.
'Real Madrid are guaranteed to win things so for Trent, it’s never going to be about money at that level because everybody’s paid very well, so if it’s trophies that he wants, then Real Madrid will guarantee that, but Liverpool fans would love to see him stay and fight for trophies at Anfield.'
Johnson, 40, played for Liverpool for six seasons between 2009 and 2015 and made 54 appearances for England.
With the Reds he won the League Cup, but it was generally a dry spell for at Anfield and they are better equipped to hang on to top stars now than they were back then.