Is there any global Finder setting for "Keep Arranged By"?
I know I can set it on a per folder basis pressing Option - Right Click:
It is painful having to do this for every folder though...
No, unfortunately there is no global setting for this. If you press ⌘+J in any folder window it opens a dialog where you can set the default view and the sort parameter but this only applies to this folder or any child folder you open directly from this folder. You could also run an Automator script to apply view styles to subfolders of specific folders on your Mac
Here's a good article on how it works and what your options are
Right-click on the background of the folder and choose "Show View Options". Set it up how you like and click on "Use as Defaults". "Show View Options" is also in the View menu in the top menubar or even available via "Command + J" on your keyboard.
That's the theory, but honestly I've had mixed results with this.