The problem with arpeggios on the guitar is they generally require sweeping or awkward string skips. If you keep two notes per string, you can set up patterns like this, which are generally pretty easy on the right hand:
Try it with your preferred picking and legato placement. Also, think of each group of two notes on one string as a cell, and try varying the pattern within each cell, and stringing each cell together in different ways. You can certainly apply this pattern to other chord types, but four-note seventh-chords are probably going to work best. Try raising or lowering the fifth, or raising the root one half-step to imply either a C7b9 or C#dim7.