If the price of the bitcoin changes suddenly you will not get good results and trading fees also to be considered.
That's why You should consider using one of FIAT currencies as base for arbitrage. Daily low/high difference of BTC is something like 10% (if you take a wider look even on smaller local markets).
If You want constant profit, without carrying about BTC price, that is good option. Arbitrage trades are fast, and profit is secured almost at same time when order is made.
In my opinion BTC is still not stable, so i won't put my savings in it. Prefer to stay with USD at the moment.
There are a lot of people doing Bitcoin arbitrages with hundreds of thousands of Dollar each so the possibility to have a huge profit from Bitcoin arbitrage should be small.