Carol'so intangability is quite impressive as she uses it very well in close combat. She can dodge Arthur's blows or Trident, and deliver her own punishment. Although I think Arthur is stronger, Carol has energy projection along with flight which should make up for it.
In any other way of fight Aquaman would win. But logically, she would just fly and stay out of his reach. If he had relics of Atlantis (that belong to him) he would stomp, but he never uses them
Aquaman wins. While he was in the water, he took multiple hits from Ocean Master's lightning, and the same lightning had knocked out Superman with one hit. I don't see how Captain Marvel wins. To be fair, though; I'm not very knowledgable about Captain Marvel.
So Aquaman is just going to stick his head out of the water and let her blast him? Not gonna happen. And even if he did she should never significsnyo hurt him.
He is more likely to summon some sea life to distract her, and tackle her into the water.
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