Aroldis Chapman requested $8.7 million and was offered $6.65 million from the Reds when arbitration figures were exchanged.
FOX Sports' Ken Rosenthal reports that the Reds are receiving "heavy interest" in Aroldis Chapman.
According to MLB.com's Joe Frisaro, the Reds are open to trading closer Aroldis Chapman.
Aroldis Chapman has switched agents and is now represented by Relativity.
Aroldis Chapman struck out the side in a scoreless inning to nail down his 36th save of the season in Sunday's win over the Pirates.
Reds manager Bryan Price said that Aroldis Chapman had general stiffness in his arm during a save chance Thursday against the Brewers.
Aroldis Chapman allowed two baserunners but escaped without harm Tuesday, closing out the Brewers for his 34th save.
Aroldis Chapman pitched a scoreless ninth in a 1-0 game to pick up his 33rd save Thursday against the Cardinals.
Aroldis Chapman tallied his 32nd save of the season in Wednesday's 4-2 defeat of the Cardinals.
Aroldis Chapman was asked to get the final out in Tuesday's win, striking out Mark Ellis to earn the save against the Cardinals.
Aroldis Chapman allowed the tying run to reach base, but escaped the ninth inning unharmed as he picked up his 28th save in Wednesday's win over the Cubs.
Aroldis Chapman picked up his 27th save of the season in Saturday's 1-0 win over the Braves.
Aroldis Chapman fired two scoreless innings and struck out four on Friday.
Aroldis Chapman (shoulder) expects to be available out of the Reds' bullpen on Wednesday.