Here are two octave 7th Chord Arpeggios. In these, I have tightened the pattern up from my previous example using C Major seventh. That example covered maximum distance up and down the fretboard using three octaves. In this one You have one small shift when you go from the fifth to the seventh scale degree and back both times.
You start on the E string everytime and do a triad pattern across the lower three strings. Next, you slide up on the D string to play the seventh and the next triad shape. The second triad shapes is always on the D, G, and B strings. Then you shift again to play the seventh and octave of the 2nd octave and back down again.
The example is in the key of C Major. The reason I start on the G7 (starting on the 3rd fret), is to cover the entire fretboard. So this covers every diatonic chord in the key G7, Am7, Bdim7, Cmaj7. Keep going with the Dm7, Em7, Fmaj7, etc. as high as you can on your guitar and back down with this same pattern.
Position-wise, I go up, down, and back up to the Cmaj7 so that the exercise logically ends on the tonic. Another good alteration, instead of going diatonically, is to just play the same shape all the way up and down the fretboard. Pick a shape, for example the minor7 shape, and play that starting from Gmin7, Amin7, Bmin7, etc.
I do this entirely with alternate picking but you can throw in some sweep as well. I hope you enjoy this one! Rock on everyone!