The Portugal international has suffered an injury-hit season in the south of Spain but Betis are not believed to be interested in doing business below the £18million they spent to sign him from Sporting Lisbon in 2018.
The La Liga club value the 27-year-old highly and would resist any sale, according to Calciomercato.
Carvalho emerged as a target for Leicester last week, while Monaco also hold an interest in the player, as well as Inter.
He still has three years remaining on his deal in Seville and a release clause set at €120m.
Carvalho became one of the highest-rated players in his homeland after helping them secure glory at Euro 2016 but has failed to kick on in the years since.
He has made 52 first-team appearances for Betis but a spinal disc herniation has hindered his prospects this year, keeping him on the sidelines for four months.
Antonio Conte is seeking reinforcements at Inter as he tries to build on this year's Serie A title challenge.
Leicester, meanwhile, will be looking to strengthen if they are able to seal qualification for next season's Champions League.
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