It is possible task. In my research team fine tune the model using new dataset esp.)medical dataset. So it is not a problem to fine tune the model on the arxiv publications if the dataset is correct.
Arxiv dataset
In my opinion, you should use langchain framework instead of fine tuning your model. Fine tuning might be right way to build your own arxiv assist. But it costs too much. So I recommend you using langchain. Langchain support the arxiv module.