The Scotland Under-21 international was strongly linked with a move away during the January transfer window, but Falkirk managed to keep hold of him and he is happy to be at the club for now.
Arfield is expected to move on eventually, though, and he admits he would welcome interest from a big club.
"Keeping Darren [Barr] here was important as he is the captain," Arfield told the Daily Record.
"He wears his heart on his sleeve for this club. He could have gone last month but keeping him until the end of the season is brilliant.
"He might have had interest down in England but he's happy in Scotland and has a new house.
"Hearts are a massive club and he wants to progress.
"Hopefully the same thing can happen to me at some point because every player wants to play at a higher level.
"I'm happy I am still at Falkirk, though, and we have a massive job on our hands making sure Falkirk stay in the SPL."
Source: Team Talk