\documentclass[a4paper]{article}
\usepackage[T1]{fontenc}
\usepackage{slantsc}
\usepackage{amsmath}
\parindent0mm
\def\ar#1{$\stackrel{\text{\normalfont #1}}{\Longrightarrow}$}
\def\test#1{%
  {\normalfont#1:}\\
  \begingroup
  \csname #1\endcsname%
  {This Is Arbitrary Text \upshape\ar{upshape} This Is Arbitrary Text} \\
  {This Is Arbitrary Text \itshape\ar{itshape} This Is Arbitrary Text} \\
  {This Is Arbitrary Text \slshape\ar{slshape} This Is Arbitrary Text} \\
  {This Is Arbitrary Text \scshape\ar{scshape} This Is Arbitrary Text} \\
  {This Is Arbitrary Text \noscshape\ar{noscshape} This Is Arbitrary Text}%
  \par\bigskip
  \endgroup
}
\begin{document}

non-small-caps shapes:\\
\test{upshape}
\test{itshape}
\test{slshape}

small-caps shapes:\\
\scshape
\test{upshape}
\test{itshape}
\test{slshape}
\end{document}
