ELITE CGC - NA
Adjusted from my V1 build to trade some attack speed for more damage in the way of critical chance, and better mana sustain.
I'm going to preface this by saying I am by far not even close to being one of the best or even one of the better Arachne players, I'm not an expert - this is just a god I enjoy playing a lot and in Arena in particular. There are much more knowledgeable players that run Arachne main, this is just a build I've found worked for me and my play style.
This is a build I've devised for Arena play specifically which focuses on leveraging lifesteal/healing buffing and critical chance items to provide high sustain to Arachne while maintaining very high damage output capability. The thought behind this build is every action I perform that damages an enemy should heal me, and as long as I'm on an enemy and not getting dogpiled I can use the enemy to keep me alive as my lifesteal drains them quickly for health. This build does not change the fact that Arachne has a difficult time when enemies group up, but it allows me to play her and stay alive/tank damage that would otherwise kill me. The challenge is to not let the high sustain lull you into a false sense of invincibility and in turn playing dumb and overly aggressive because doing so will get you killed when playing against even non-coordinated groups.
The real core of this is Soul Eater, Death's Embrace, Vital Amplifier, and Serrated Edge. These items are the foundation of the lifesteal high sustain concept. I'm sure plenty would argue all 4 aren't needed and that one or two would be sufficient, however for my particular play style I'm very aggressive and the combo of all 4 items have kept me alive in scenarios where I've had more balls than sense going up against multiple enemies, or an enemy that wasn't far from their group. Shoutout to @SamDaDude for pointing out in one of his videos how amazing Serrated Edge on Arachne is which turned me onto how valuable an item it is.
Y10 Soul Eater
PASSIVE - Your abilities heal you for 2.5% of damage dealt. Each time anything dies within 80 units you gain a stack. Gods, Large Jungle monsters and Bosses provide 5 stacks. At 100 Stacks Soul Eater Evolves, gaining 15 Physical Power, 4% Physical Lifesteal, and 10% Physical Ability Lifesteal.
Death's Toll
PASSIVE - Hitting an enemy with a Basic Attack restores 8 Health and 4 Mana. Basic Attacks that hit all enemies in melee range restore 4 Health and 2 Mana on every enemy after the first.
Vital Amplifier
PASSIVE - After healing yourself or an allied god with an ability you gain 10% Attack Speed and 5% Basic Attack Damage for 6s, stacking 3 times.
Y10 Serrated Edge
PASSIVE - For every non-ultimate ability on cooldown you gain a stack of Cruelty. Each stack provides 7 Physical Power and 2% Physical Lifesteal.
Demon Blade
PASSIVE - Your Critical Hits provide you with 10% Physical Penetration for 4s.
Bladed Boomerang
PASSIVE - Your next basic attack on an enemy god creates a deployable that, when picked up, provides you with 2% Movement Speed and 10% Critical Strike Chance for 10s. This effect stacks up to 3 times and can only occur once every 2 seconds.
Build the sustain and decent damage out first, and then round it out with higher attack speed, and critical chance damage output.
Y10 Evolved Soul Eater
PASSIVE - Your abilities heal you for 10% of the damage dealt to targets.
Death's Embrace
PASSIVE - Hitting an enemy with a Basic Attack restores 1.4% of your Health, 2% of your Mana and reduces your active non-Ultimate Cooldowns by 0.33s. Basic Attacks that deal damage in an AoE restore less health (75% for Melee Attacks, 50% for Ranged Attacks) for each enemy hit after the first and only count once for the Cooldown reduction effect.
Vital Amplifier
PASSIVE - After healing yourself or an allied god with an ability you gain 10% Attack Speed and 5% Basic Attack Damage for 6s, stacking 3 times.
Y10 Serrated Edge
PASSIVE - For every non-ultimate ability on cooldown you gain a stack of Cruelty. Each stack provides 7 Physical Power and 2% Physical Lifesteal.
Demon Blade
PASSIVE - Your Critical Hits provide you with 10% Physical Penetration for 4s.
Bladed Boomerang
PASSIVE - Your next basic attack on an enemy god creates a deployable that, when picked up, provides you with 2% Movement Speed and 10% Critical Strike Chance for 10s. This effect stacks up to 3 times and can only occur once every 2 seconds.