A bearing arrangement is disclosed. The bearing arrangement includes a bearing with a bearing lubricant. A first electrically conductive portion and a second electrically conductive portion, which have different electronegativities, are in direct contact with the bearing lubricant. The bearing lubricant and the first and second electrically conductive portions form an electrolyte and two electrodes, respectively, of an electrochemical cell. The bearing arrangement further includes a sensor connected to the first electrically conductive portion and to the second electrically conductive portion, the sensor being configured to measure at least one of a current and a galvanic potential between the first and second electrically conductive portions and to determine a water content in the bearing lubricant based on the measurement.