The January transfer window proved to be a busy one for both Merseyside clubs.
Liverpool made a surprise mid-season foray into the market, bringing in Luis Diaz for a fee that could rise to £49.5 million.
The Reds were also close to striking a deal for Fabio Carvalho after settling on a fee with Fulham, but the move fell through at the last minute.
As for Everton, on deadline day they announced the appointment of Frank Lampard as the club's new manager, with the midfield duo of Donny van de Beek - on loan - and Dele Alli also arriving at at Goodison Park.
The pair will bolster a squad that had already been improved by the signings of Vitalii Mykolenko and Nathan Patterson, as well as Anwar El Ghazi on loan. Lucas Digne was also sold to Aston Villa.
Overall, it was a hectic month for the Premier League, with only four clubs opting against making a signing of any sort. Here are all the deals done over the course of the month.
Arsenal
IN - Lino Sousa (West Bromwich Albion, undisclosed), Auston Trusty (Colorado Rapids, undisclosed)
OUT - Harry Clarke (Hibernian, loan), Ainsley Maitland-Niles (Roma, loan), Folarin Balogun (Middlesbrough, loan), Dejan Iliev (contract terminated), Sead Kolasinac (Marseille, mutual consent), Brooke Norton-Cuffy (Lincoln City, loan), Pablo Mari (Udinese, loan), Karl Hein (Reading, loan), Tyreece John-Jules (Sheffield Wednesday, loan), Calum Chambers (Aston Villa, undisclosed), Ryan Alebiosu (Crewe Alexandra, loan), Nikolaj Moller (Den Bosch, loan), Auston Trusty (Colorado Rapids, loan), Pierre-Emerick Aubameyang (Barcelona, free)
Aston Villa
IN - Philippe Coutinho (Barcelona, loan), Lucas Digne (Everton, £25m), Kerr Smith (Dundee United, £2m), Robin Olsen (Roma, loan), Calum Chambers (Arsenal, undisclosed)
OUT - Keinan Davis (Nottingham Forest, loan), Wesley (Internacional, loan), Aaron Ramsey (Cheltenham Town, loan), Caleb Chukwuemeka (Livingston, loan), Anwar El Ghazi (Everton, loan), Sebastian Revan (Hereford, loan), Jaden Philogene-Bidace (Stoke City, loan), Cameron Archer (Preston North End, loan), Arjan Raikhy (Grimsby Town, loan), Louie Barry (Swindon Town, loan), Matt Targett (Newcastle United, loan)
Brentford
IN - Jonas Lossl (FC Midtjylland, loan), Christian Eriksen (free agent)
OUT - Nathan Shepperd (Dundalk, undisclosed), Jan Zamburek (Viborg FF, undisclosed), Joe Adams (Dundalk, undisclosed), Lachlan Brook (Adelaide United, loan), Patrik Gunnarsson (Viking, undisclosed), Joel Valencia (Alcorcon, loan), Dominic Thompson (Ipswich Town, loan), Mads Bidstrup (Nordsjaelland, loan)
Brighton
IN - Kacper Kozlowski (Pogon Szczecin, undisclosed), Deniz Undav (Union Saint-Gilloise, £5.8m)
OUT - Aaron Connolly (Middlesbrough, loan), Kacper Kozlowski (Royale Union Saint-Gilloise, loan), Leo Skiri Ostigard (Genoa, loan), Jurgen Locadia (VfL Bochum, undisclosed), Taylor Richards (Birmingham City, loan), Christian Walton (Ipswich Town, undisclosed), Fynn Talley (Gosport Borough, loan), Gary Dicker (retired), Adam Desbois (Leatherhead, loan), Ryan Longman (Hull City, £700k), Deniz Undav (Union Saint-Gilloise, loan), Dan Burn (Newcastle, £13m)
Burnley
IN - Wout Weghorst (VfL Wolfsburg, £12m)
OUT - Jacob Bedeau (Morecambe, loan), Anthony Glennon (Barrow, loan), Chris Wood (Newcastle United, £25m)
Chelsea
IN - Travis Akomeah (Watford, free), Dylan Williams (Derby County, undisclosed)
OUT - Jamie Cumming (MK Dons, loan), Lewis Baker (Stoke City, undisclosed), Juan Castillo (Charlton Athletic, loan), Tariq Uwakwe (Crewe Alexandra, undisclosed), Tino Anjorin (Huddersfield Town, loan)
Crystal Palace
IN - Killian Phillips (Drogheda United, undisclosed), Joshua Addae (Langley, undisclosed)
OUT - Jake O’Brien (Swindon Town, loan), Jacob Montes (RWD Molenbeek, loan), Jay Rich-Baghuelou (Accrington Stanley, undisclosed), James Taylor (Tonbridge Angels, loan), Oliver Webber (Portsmouth, undisclosed), Luke Dreher (Bromley, loan), Robert Street (Newport County, loan), Jack Roles (released), Jean-Philippe Mateta (Mainz, undisclosed)
Everton
IN - Vitalii Mykolenko (Dynamo Kyiv, undisclosed), Nathan Patterson (Rangers, undisclosed), Anwar El Ghazi (Aston Villa, loan), Donny van de Beek (Manchester United, loan), Dele Alli (Tottenham, free)
OUT - Lucas Digne (Aston Villa, £25m), Ellis Simms (Heart of Midlothian, loan)
Leeds
IN - Mateo Fernández (Espanyol, undisclosed)
OUT - Ryan Edmondson (Port Vale, loan), Cody Drameh (Cardiff City, loan), Josh Galloway (FC United of Manchester, loan), Bobby Kamwa (Dunfermline Athletic, loan)
Leicester
IN - None
OUT - Jacob Wakeling (Barrow, loan), Filip Benkovic (Udinese, mutual consent), Josh Eppiah (Northampton Town, loan), Kasey McAteer (Forest Green Rovers, loan), Ali Reghba (Chabab Riadhi Belouizdad, undisclosed)
Liverpool
IN - Luis Diaz (Porto, £37.5m)
OUT - Tony Gallacher (St. Johnstone, released), Morgan Boyes (Livingston, released), Liam Hughes (Stalybridge Celtic, loan), Nathaniel Phillips (Bournemouth, loan)
Man City
IN - Julian Alvarez (River Plate, £14m)
OUT - Ferran Torres (Barcelona, £55m), Taylor Harwood-Bellis (Stoke City, loan), James Trafford (Bolton Wanderers, loan), Tommy Doyle (Cardiff City, loan), Patrick Roberts (Sunderland, undisclosed), Finley Burns (Swansea City, loan), Julian Alvarez (River Plate, loan)
Man Utd
IN - None
OUT - Teden Mengi (Birmingham City, loan), Ethan Laird (Bournemouth, loan), Axel Tuanzebe (Napoli, loan), Anthony Martial (Sevilla, loan), Amad Diallo (Rangers, loan), Reece Divine (Walsall, loan), Donny van de Beek (Everton, loan)
Newcastle
IN - Kieran Trippier (Atletico Madrid, £12m), Chris Wood (Burnley, £25m), Bruno Guimaraes (Lyon, £35m), Matt Targett (Aston Villa, loan), Dan Burn (Brighton, £13m)
OUT - Rosaire Longelo (Accrington Stanley, undisclosed), Joe White (Hartlepool United, loan), Freddie Woodman (Bournemouth, loan), Elliot Anderson (Bristol Rovers, loan)
Norwich
IN - None
OUT - Isak Thorvaldsson (Briedablik, free), Thomas Dickson-Peters (Gillingham, loan), Tyrese Omotoye (Carlisle United, loan), Bali Mumba (Peterborough United, loan), Rocky Bushiri (Hibernian, loan), Gassan Ahadme (Burton Albion, undisclosed), Onel Hernandez (Birmingham City, loan), Josh Martin (Doncaster Rovers, loan), Sebastian Soto (Livingston, loan), Jordan Hugill (Cardiff City, loan), Todd Cantrell (Bournemouth, loan)
Southampton
IN - None
OUT - Sam McQueen (retired), Jack Bycroft (Dorchester Town, loan), Dan Nlundulu (Cheltenham Town, loan), Jeremi Rodriguez (Burgos, loan), Caleb Watts (Crawley Town, loan), Kayne Ramsay (Ross County, loan), Dynel Simeu (Carlisle United, loan)
Tottenham
IN - Rodrigo Bentancur (Juventus, £15.8m), Dejan Kulusevski (Juventus, loan)
OUT - Kion Etete (Cheltenham Town, loan), Dilan Markanday (Blackburn Rovers, undisclosed), Jack Clarke (Sunderland, loan), Nile John (Charlton Athletic, loan), Tanguy Ndombele (Lyon, loan), Giovani Lo Celso (Villarreal, loan), Bryan Gil (Valencia, loan), Dele Alli (Everton, free)
Watford
IN - Maduka Okoye (Sparta Rotterdam, undisclosed), Hassane Kamara (Nice, £4m), Samir (Udinese, undisclosed), Edo Kayembe (KAS Eupen, undisclosed), Samuel Kalu (Bordeaux, undisclosed)
OUT - Maduka Okoye (Sparta Rotterdam, loan), Pontus Dahlberg (Gillingham, loan), JJ McKiernan (Bohemians, loan), Ryan Cassidy (Bohemians, loan)
West Ham
IN - Callum Marshall (Linfield, undisclosed)
OUT - Conor Coventry (MK Dons, loan), Goncalo Cardoso (Real Betis, loan), Mipo Odubeko (Doncaster Rovers, loan), Joseph Anang (St. Patrick's Athletic, loan), Frederik Alves (Brondby, undisclosed)
Wolves
IN - Hayao Kawabe (Grasshoppers, undisclosed), Chiquinho (Estoril, undisclosed), Hwang Hee-Chan (RB Leipzig, undisclosed), Jung Sang-bin (Suwon Samsung Bluewings, undisclosed)
OUT - Theo Corbeanu (Milton Keynes Dons, loan), Lewis Richards (Harrogate Town, loan), Joe Young (Matlock Town, loan), Joe O'Shaughnessy (Hednesford Town, loan), Luke Matheson (Scunthorpe United, loan), Jack Scott (St. Patrick's Athletic, loan), Leonardo Campana (Inter Miami, loan), Hayao Kawabe (Grasshopper, loan), Dion Sanderson (Queens Park Rangers, loan), Austin Samuels (Inverness Caledonian Thistle, undisclosed), Jung Sang-bin (Grasshopper, loan), Adama Traore (Barcelona, loan)
List courtesy of the Daily Mirror and accurate as of February 1.
