Yes, but the key words in my post you quoted were "fund his wages" and that prospect has me concerned.
Let's take it as a given fact that Rashford is on 350k/week and let's stipulate that Rashford will not accept a wage cut. It might be less since we're not in the CL but let's stick with that number. My understanding is that Arsenal's highest paid player is Havertz at 280k/week. If Arsenal were willing to pay us 10m and pay Rashford 280k/week, meaning of course we eat 70k/weekly that might be good business on our part, but it's hard to believe that Arsenal would be willing to dig that deep into their pockets for a player who has badly underperformed for quite a long time now, has had only one great season, and isn't at all built for Arsenal's tactics under Arteta.
The calculus changes is Rashford is willing to accept a substantial wage cut to to join a club like Arsenal or West Ham, the latter being an even more unlikely destination. There may be a second tier club willing to spend that kind of money, but Rashford envisions himself as a top tier player, unworthy of clubs like West Ham or possibly even Arsenal, who have incredibly won even fewer trophies than United in recent years despite how horrifying our overall play has been. Arsenal supporters are ridiculously abusive toward their own players, a fact which I wasn't aware of until the last 48 hours. I really don't think Rashford would be wise to go to a club like Arsenal right now, a club which is reeling and their manager is under pressure. And with the reputation that Rashford has for being an overpaid, underperforming partyer, going to Arsenal even on loan would be disastrous for him...and we certainly can't expect United to underwrite this folly unless it is for the express purpose of tanking the rest of Arsenal's season. I can't think of any reason why Arsenal would want Rashford, or how West Ham would be willing to take on his astronomical wages, or why United would be willing to cover the wages of Rashford while playing for West Ham.