The E major 7 arpeggio (Emaj7) is the Emaj7 chord played one note at a time: E, G♯, B and D♯. Smooth and lush, common in jazz, soul and R&B ballads. Below is every Emaj7 chord tone on the neck, then the five positions, each sitting inside one box of E major pentatonic.

Every Emaj7 chord tone from the open strings to the 15th fret.
Each position uses only the notes of one pentatonic box, so if you know the boxes you already know where the arpeggio lives. The dashed line shows the order to play it, low to high.
The Emaj7 arpeggio shares its notes with E Ionian, E Lydian, and with the major pentatonic plus the 7th. Use the arpeggio to land on chord tones and the scale to fill the space between them.
Other arpeggios in E: Em7 arpeggio · E7 arpeggio. The three-note version: E triads. All nine arpeggio types: guitar arpeggios guide.
Major 7 arpeggio in other keys: Cmaj7 · C#maj7 · Dmaj7 · Ebmaj7 · Fmaj7 · F#maj7 · Gmaj7 · Abmaj7 · Amaj7 · Bbmaj7 · Bmaj7.
Guides: pentatonic boxes guide · connecting the 5 boxes · breaking out of the box · learning the fretboard notes · mixing major and minor pentatonic · left-handed scale charts · guitar modes explained.
E, G♯, B and D♯ — the root, 3, 5 and 7 of Emaj7.
E Ionian, E Lydian, and the E major pentatonic plus the 7th.
One note: lower the 7th one fret to a ♭7 and Emaj7 becomes E7 (dominant 7).
Five, one inside each of the five pentatonic boxes, repeating every 12 frets.