You wouldnt be arrested...the cops would bring you back to your parents. However, if your parents dont care then it doesnt matter you can move out. If they dont want you too...you either wait a year, get emancipated, or take your chances with the cops. Some wont bother going after a 17 year old whos moved out since your close to legal...but some will bring you home if your parents are persistant.
get emancipated, though I wouldnt recommend it. Do you have a good job? Are you still in school? are you planning on college? do you realize the bills and responsiblities you will have being on your own?