Are both

1 He hasn't still arrived
2 He hasn't arrived yet

equivalent and correct?

Anonymousequivalent and correct?
The word order is different.

1 He still hasn't arrived.
2 He hasn't arrived yet.
Students: Are you brave enough to let our tutors analyse your pronunciation?
The first implies some expectation that he is late. The second does not necessarily imply this.
It turns out your father will have to pay.