Bring a large pot of lightly salted water to a boil. Cook orzo in the boiling water, stirring occasionally until cooked through but firm to the bite, about 12 minutes.
Drain.
Combine orzo, green onions, corn, cranberries, red bell pepper, almonds, basil, arugula, Parmesan cheese, salt, and ground black pepper in a large bowl; set aside.
Whisk together balsamic vinegar, lemon juice, Dijon mustard, garlic, sugar, basil, canola oil, olive oil, salt, and ground black pepper to taste.