fire-raising vs arson

fire-raising and arson both are nouns.

Word	Noun	Adjective	Verb	Adverb
fire-raising	Yes	No	No	No
arson	Yes	No	No	No

As nouns, fire-raising and arson are synonyms defined as:

Other synonyms of fire-raising include incendiarism.

fire-raising (noun)	arson (noun)
malicious burning to destroy property	malicious burning to destroy property