I would suggest not trying it . I have read a lot of threads of people trying it out, but in the end the fees/Deposit-withdrawal times/ and the volatility will put you down .
read above...
no withdraw and deposit...
for this approach you need too much time...
you need a bot...
if you have 2BTC&500$ to invest you need this config
exchange 1: 1btc plus 250$
exchange 2: 1btc plus 250$
if you have 3btc&750$ add a third exchange
exchange 3: 1btc plus 250$
then you configure a bot and when the books show a profittable spread, you buy/sell at the same time betwee the 2 more profittable exchange.
that's all.
but remeber.. do not think it is easy to do money in this way.