The Arbitrum airdrop is live to claim.
After you claim your tokens you may want swap some or all your ARB to another crypto like ETH or USDC. The network has high gas fees do to congestion of all processing airdrop. You should use a DEX aggregator like to get best rates.
You can then add liquidity to a DEX like traderjoe, uniswap , etc to gain from all the Fees.
You can also wait to see who starts to offer best incentives for your ARB in the coming days