Tokøta from Mastering.com breaks down Latch mode on the arpeggiator for hands-free looping during live performance or songwriting.
Playing a chord with Latch and Silent Capture engaged loops it automatically, freeing your hands. You can then drag that captured MIDI straight into the arrangement to keep editing the notes afterward.
Reset restarts the chord fresh every time you play, and instantly switches you into Transpose mode. There, single notes shift the whole chord around without following your key's actual chord progression, so you may need to adjust notes manually if you want diatonic movement.
Gated Transpose works the same way but only sounds while you hold the note down. It has niche uses, but it is less practical for most performance or production situations.