In the beginning there was nothing (to be perceived) here whatsoever. By Death indeed all this was concealed,—by hunger; for death is hunger. Death (the first being) thought, 'Let me have a body.' Then he moved about, worshipping. From him thus worshipping water was produced. And he said: 'Verily, there appeared to me, while I worshipped (arkate), water (ka).' This is why water is called ar-ka. Surely there is water (or pleasure) for him who thus knows the reason why water is called arka.

In plain words: In the beginning nothing could be seen; everything was hidden by Death, which is the same as hunger. Death wished for a body, and as he worshipped, water appeared; this is why water is called 'arka,' a word play on worship and water.