you will also need the fastest server you can get as arbitrage opportunities can disappear in seconds and that can be the difference between making money or losing it,
What do you mean by server? Are you suggesting to run bots on a VPS or something similar? As far as I can tell, most VPS have a good connection unless you choose the cheapest one with limited bandwidth/ping. Maybe you can fix that with a fast internet connection and a mini PC if latency is an issue, or if your exchange blocks VPS to access their API (unlikely).