Your system information

• Steam client version (build number or date):
  Tested with Beta and Stable, both runtime and native libraries.
• Distribution (e.g. Ubuntu):
  Arch

System Info from Steam with working Linux 4.14 and nvidia 3.87.34
https://gist.githubusercontent.com/jazztickets/ec290c38deb7fa8db404/raw/874be56ab5df5c7c4ff1ce14fe2c8fe37c700a8b/gistfile1.txt

When launching steam it hangs on

$ steam-native 
Running Steam on arch rolling 64-bit
STEAM_RUNTIME is disabled by the user
Installing breakpad exception handler for appid(steam)/version(0)

Last few lines from strace:

[pid  1599] brk(0x58baa000)             = 0x58baa000
[pid  1599] poll([{fd=7, events=POLLIN|POLLOUT}], 1, -1) = 1 ([{fd=7, revents=POLLOUT}])
[pid  1599] writev(7, [{iov_base="\22\0\7\0\2\0\340\0015\1\0\0\4\0\0\0 _WI\1\0\0\0003\1\0\0\232\3\6\0"..., iov_len=56}, {iov_base=NULL, iov_len=0}, {iov_base="", iov_len=0}], 3) = 56
[pid  1599] poll([{fd=7, events=POLLIN}], 1, -1) = 1 ([{fd=7, revents=POLLIN}])
[pid  1599] recvmsg(7, {msg_name=NULL, msg_namelen=0, msg_iov=[{iov_base="\0\2\36\0\0\0\0\0\3\0\232\0\0\0\0\0\0\0\0\0\0\0\0\0\0\0\0\0\0\0\0\0"..., iov_len=4096}], msg_iovlen=1, msg_controllen=0, msg_flags=0}, 0) = 64
[pid  1599] gettid()                    = 1599
[pid  1599] openat(AT_FDCWD, "/usr/share/X11/XErrorDB", O_RDONLY) = 8
[pid  1599] fstat64(8, {st_mode=S_IFREG|0644, st_size=42077, ...}) = 0
[pid  1599] read(8, "!\n! Copyright 1993, 1995, 1998  "..., 42077) = 42077
[pid  1599] close(8)                    = 0
[pid  1599] gettid()                    = 1599
[pid  1599] poll([{fd=7, events=POLLIN|POLLOUT}], 1, -1) = 1 ([{fd=7, revents=POLLOUT}])
[pid  1599] writev(7, [{iov_base="c\0\1\0", iov_len=4}, {iov_base=NULL, iov_len=0}, {iov_base="", iov_len=0}], 3) = 4
[pid  1599] futex(0x58ae3c78, FUTEX_WAIT_PRIVATE, 0, NULL