What are the risks associated with an arthroscopy?

Minimal. The most common risk factor sited for arthroscopy are infection, bleeding, and damage to veins, arteries, or nerves. Other risks include acute swelling, and incision pain. All of these risks are relatively rare and occur at a less than 1% frequency.
Usual surgical risk. General surgical risks also apply to arthroscopy. They include, but are not limited to: infection, nerve and vessel damage, persistent pain, the need for further surgery, deep venous thrombosis (dvt [blood clot]), and the remote loss of life or limb. Generally speaking, these risks occur less than 1% of the time. Definitelyto speak with your surgeon regarding your specific risks and complications.