Not sure about the wage cap but take away wages for non players etc, I doubt we pay higher wages to the players than Arsenal.
Take it with a grain of salt considering the source but probably not too far off.
Arsenal Player Wages & Contracts 2016-17
PLAYER AGE WEEKLY WAGE CONTRACT LEFT
Petr Cech £100,000
David Ospina £40,000 (3 Years) 2019
Shkodran Mustafi £90,000 (5 years) 2021
Laurent Koscielny £75,000 (1 Year) 2017
Gabriel Paulista £50,000 (3 Years) 2019
Calum Chambers £20,000 (4 Years) 2020
Per Mertesacker £70,000 (1 Year) 2017
Rob Holding £10,000
Krystian Bielik £5,000
Nacho Monreal £65,000
Kieran Gibbs £60,000
Héctor Belleríni £50,000
Carl Jenkinson £45,000
Mathieu Debuchy £70,000
Francis Coqueli £45,000
Mohamed Elneny £40,000
Aaron Ramsey £110,000
Granit Xhaka £90,000
Santi Cazorla £90,000
Mesut Özil £140,000
Alex Iwobi £30,000
Alex Oxlade-Chamberlain £65,000
Alexis Sánchez £140,000
Serge Gnabry £15,000
Theo Walcott £110,000
Olivier Giroud £100,000
Danny Welbeck £70,000
Lucas Perez £70,000
Total £1,865,000/ week
Liverpool Player Wages & Contracts 2016-17
Simon Mignolet £60,000 5 Years (2021)
Loris Karius £15,000 5 Years (2021)
Alex Manninger £5,000 1 Year (2017)
Joel Matip £70,000 4 Years (2020)
Dejan Lovren £65,000 3 Years (2019)
Ragnar Klavan £55,000 3 Years (2019)
Joe Gomez £10,000 4 Years (2020)
Tiago Ilori £10,000 2 Years (2018)
Alberto Moreno £40,000 3 Years (2019)
Nathaniel Clyne £70,000 4 Years (2020)
Andre Wisdom £10,000 3 Years (2019)
Emre Can £55,000 2 Years (2018)
Lucas Leiva £80,000 1 Year (2017)
Kevin Stewart 4 Years (2020)
Jordan Henderson £100,000 4 Years (2020)
James Milner £120,000
Marko Grujic £15,000 4 Years (2020)
Philippe Coutinho £200,000 6 Years (2022)
Georginio Wijnaldum £90,000 5 Years (2021)
Adam Lallana £65,000 3 Years (2019)
Sadio Mané £90,000 5 Years (2021)
Sheyi Ojo £1,000 4 Years (2020)
Roberto Firmino £100,000 4 Years (2020)
Daniel Sturridge £120,000 3 Years (2019)
Danny Ings £60,000
Divock Origi £25,000
Total- £1,531,000