Arenas is a former Chiefs second-round pick from Alabama.
He was traded to the Cardinals last May.
In four seasons, he has 148 tackles, five sacks, three forced fumbles, two interceptions, two fumble recoveries and 22 pass deflections.
He has 106 punt returns for 1,035 yards and 73 kickoff returns for 1,541 yards.
He played in every game last season and had 12 tackles and one sack.
He returned 24 kickoffs and averaged 21.4 yards per return last season.
He was an All-American selection at Alabama.
Follow me on Twitter: @RavensInsider
Aaron Wilson covers the Ravens for The Baltimore Sun