You will need the following items:
A weapon to defend yourself if you anger the Arthropluera
And taming food such as broth of enlightenment. Make sure the bug is facing away from you as it will be easier for you to tame.
Easiest and safest way to tame this is to lure it under water. They stop aggro and you can tame as you please. Just make sure you come up for air every once in a while. Also be sure the water is deep enough.