New Tranmere boss Micky Adams has bolstered the clubs attacking options with Cardiff's Danny Johnson on a one-month loan.
Full-back Maynor Figueroa has returned to Wigan on a one-month loan deal from Hull.
The well-travelled 32-year-old has penned a contract until summer 2014 with the Andalusian outfit.
Sporting director Juan Carlos Cordero told club website www.granadacf.es: "We spent time negotiating with Zaragoza for Aranda. There is a transfer fee of 500,000 euros.
"We have signed him for this season and one more. He's a player we wanted and we needed. Has has many attributes that will help Granada."