try sequencing them. Set up a chord progression, let's say in the key of Am. We could go .. Am-C-Dm-Em-Am ...for example. Then play those arpeggios from that chord progression. Play around with them. Play them super fast...play them using inversions (ie...the 3rd or 5th in the bass) ... play them high to low and then play the next one low to high. Play them broken up with jumps over strings. There's limitless variations you can make here, just be creative.
For composers you may wanna check out the big names like Bach and Mozart, that's a good starting point for learning how to utilize arpeggios to craft melodies. Franz Liszt and Nicolo Paganini also had highly virtuosic compositions featuring lots of fast arpeggio work. Paganini's 5th caprice is a great arpeggio study (and a very cool sounding piece of music) and has been performed by lots of famous guitar players like Yngwie Malmsteen, Steve Vai (in the movie Crossroads) and Troy Stetina. As far as bass players go, John Aldrete does some creative use of utilizing arpeggios to create great harmonies in his work with Racer x.
Overall, arpeggios are just as useful/useless as scales are. They are just a series of notes, what you do with them is what makes them valuable. Hope this helped somewhat.
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