The 30-year-old was detained in the Larne area on Monday evening.
He is also suspected of possession of a firearm with intent to endanger life, hijacking, and aggravated vehicle-taking.
The arrest was made after a car was hijacked by masked men armed with shotguns in the Craigy Hill area at about 1.50am.
The Volkswagon Bora was then driven to the Brustin Brae Road area, where it was ploughed through the gates of a property and set alight outside the garage.
Shots were fired through the windows of the house, while a woman and her three young children were inside.
Police say they have stepped up patrols in the town following a recent spate of arson attacks linked to the ongoing feud.