I found a different solution, at least for my problem. I turned off Traffic in System Services. That made the arrow go away for a few minutes but it came back. Then I saw that there was a purple icon with Apple Store. Looking at the info for that particular app it sounds like if you have the location services on for it you kinda have a permanent geofence on. I turned that one off and so far so good.
Do you have google app? Are your location services on for that?