The first three nidanas - what does it all mean?!

I am just following the twofold reading of the dependent origination made possible by SN12.23.

This is not something I came up with but can be traced to the traditional exegesis of this EBT.

If you are interested in learning more about I would suggest checking Bhikkhu Bodhi’s beautiful essay on the Upanisa Sutta and the topic: “Transcendental Dependent Arising - A Translation and Exposition of the Upanisa Sutta”

On your specific question, I infer from the suttas that once the threshold of awakening is crossed by an arahant the process of suffering perpetuating dependent origination is fully ceased. I don’t think however EBTs provide us a clear cut ontology of what exactly is going on beyond that breakthrough.

And maybe even the Buddha would not be much interested in approaching it from that end - mind yourself that the third enobbling truth’s specific ennobling task is for us to verify that ending ourselves. And, of course, that verification comes about with the full development of the path.

There are however hints that in between the liberation and death what supports the fruition of an arahant is the knowledge of destruction of the defilements (khayeñāṇaṃ), as that in turn assures no future birth will come about.

To that point, note that in Nibbānadhātu Sutta (Iti44) the Buddha gives us some hint on how an arahant may “spin” beyond fruition:

“Here a bhikkhu is an arahant, one whose taints are destroyed, the holy life fulfilled, who has done what had to be done, laid down the burden, attained the goal, destroyed the fetters of being, completely released through final knowledge.
However, his five sense faculties remain unimpaired, by which he still experiences what is agreeable and disagreeable and feels pleasure and pain.
It is the extinction of attachment, hate, and delusion in him that is called the Nibbāna-element with residue left.”

https://suttacentral.net/iti44/en/ireland

And I understand that the Nibbāna-element with no residue left (anupādisesā nibbānadhātu) found in the Nibbānadhātu Sutta (Iti44) corresponds to what in the Sandiṭṭhikanibbāna Sutta (AN9.47) is termed definitive nibbana (nippariyāyenā nibbānaṃ).

In AN9.47 (and its parallels) we learn that the definitive nibbana is what is known by those who “go totally beyond the dimension of neither perception nor non-perception, enters and remains in the cessation of perception and feeling. And, having seen with wisdom, their defilements come to an end.

PS: A related discussion which may be of your interest is found at the link below: