The 31-year-old believes his side can pull of a major shock against the Gunners.
Iliev said: “For me, Arsenal are the best team in this Group. But the key is the clock. The longer the game goes on, the more nervous they become and the greater the chance of a surprise.
“We are ready for a hard match. But our pride is our greatest quality. Arsenal are under pressure and that could be our biggest chance.
“We know people will be thinking this will be easy for Arsenal, but we still have our pride and want to cause a surprise.
“We want to finish this phase with at least a point in the table because I think we have deserved more.
“Arsenal have a terrific team, brilliant stadium and yet this game is different for them. They are under great pressure and that will give us a chance.”