According to multiple reports, both sides were tense after leaving a meeting room at a Toronto hotel.
"It's been an educational process for me," Subban said, according to TSN. "I will move on from today and get ready for the season. We have to live with those decisions."
Canadiens general manager Marc Bergevin did not talk to reporters.
The arbitrator has 48 hours to announce a decision. The Habs and Subban are free to negotiate their own agreement up until the arbitrator's ruling comes down.
Subban's camp reportedly sought $8.5 million through arbitration, while the team requested $5.25 million, according to TSN. The arbitrator can set the one-year salary anywhere between those two numbers.
The star defenseman is coming off the final season of a two-year, $5.75 million deal. He will be a restricted free agent again next season if he doesn't come to an agreement on a long-term deal with Montreal before then. Subban and the Habs could begin negotiations on a new deal after Jan. 1.
Subban did not seem open to discussing a long-term deal on Friday.
"I think that's kind of a discussion for a later date," Subban said, according to The Globe and Mail. "It's not a discussion for today, obviously."
Subban had 10 goals and 43 assists -- the sixth-most points by a defenseman in the 2013-14 season -- for the Canadiens, who advanced to the Eastern Conference finals.