Arbitraging, in its HFT meaning, isn't possible at this point because cryptocurrency transfers are quite slow - minutes to hours - by design. Volatility of most/all coins is such that it makes arbitraging impossible.
I don't mine very much, mostly Zcash with a few dozen GPUs. Mainly into trading and investing really. I plan on mining a lot more soon, when I figure out how to do oil cooling of GPUs properly.
To learn how to build rigs, your best friend is youtube. There's a wealth of information there. Make sure the videos you watch are recent enough.
If you're trying to trade without knowing what you are doing, you are basically playing the lottery. I'm gonna save you a lot of time and maybe money - as far as major coins are concerned, follow the fundamentals, watch the news (financial and geopolitical mostly) and see how the market reacts. When you feel you start understanding things, start trading small amounts.
On marginal coins (99% of all coins), a lot/most of potential profit and loss comes from pump'n'dump schemes which are constantly orchestrated. Learn to spot them and try to not lose money to them. Profit from them if you can.
If you can, learn about blockchain and how bitcoin works. It's probably the #1 technology breakthrough of the last 5-7 years and it's here to stay.
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