Current arrangement could be perfect (5)
I believe the answer is:
ideal
'be perfect' is the definition.
(similar in meaning)
'current arrangement' is the wordplay.
'current' becomes 'I' (symbol for electric current).
'arrangement' becomes 'deal' (arrangement between two people or groups).
'i'+'deal'='IDEAL'
'could' is the link.
(Other definitions for ideal that I've seen before include "Best possible" , "highly desirable" , "Optimal" , "Model of perfection" , "Perfect but perhaps unlikely to become reality" .)