The Arcana Disk is capable of being used as a weapon, a journal, a healing device, and an identifier for any and all Arcana Entitys

You can use your Arcana disk to heal yourself during a long rest

ability score bonus

Can be used to find what spell was used, its level, its point where it was used from, and where it has moved to.

The arcana residue left over looks like ghostly strings and then smoke patches where the spell started and ended