What can i do about pain in the arch of my foot while exercising?

See a podiatrist: A good examination, and x-rays can sort out if the diagnosis is plantar fasciitis, achilles tendinitis, bursitis, arthritis or injury such as a stress fracture. Your treatment options may differ based on the diagnosis, so seeing a podiatrist is important. Make sure you do your warm-up and cool-down stretches regularly, and your shoes fit well, and are not excessively worn out.

Identify the cause: Your pain could due to trauma (fracture, sprain, arthritis, inflammation), infection, metabolic conditions (gout), poor circulation, musculoskeletal or biomechanical abnormality and different neurologic conditions (neuropathy). A thorough history and physical exam and possibly some laboratory and radiology exams are needed to determine the exact cause.

NEED FOR SUPPORT!: There are many possible reasons (plantar fascitis leaps to mind) that you may have pain in the heels, but try arch supports like spenco polysorb (http://www.Spenco.Com/products/footcare/poly-sorb) and otc anti-inflammatories (like aleve). If these don't help, see a podiatrist.