You can knock Arakune out of the air with, whats input for the diving kick? No idea, you just have to be fast enough, or you'll eat either:
a)a jB
b)a jA
c)a cloud
Or dunno, maybe I suck and I can't block these .
Also, if you use him a lot you'll try to do weird shit with other characters, like trying to wall teleport with Ragna, or trying to dash using j6A/B/C so be careful .