Regane MacColl, 17, died after taking a "mortal kombat" tablet at Glasgow nightspot The Arches on February 1.
Staff at the Liquid Rooms in Victoria Street, Edinburgh called police after they found a 19-year-old man who was said to have a bag containing 23 of the red "mortal kombat" pills on Sunday.
Police Scotland said a teenager was arrested and charged under the Misuse of Drugs Act.
Detective Inspector Rory Hamilton said it was the first arrest for possession of "mortal kombat" in Edinburgh.
The arrest is not being linked to the death of Ms MacColl, from Clydebank in West Dunbartonshire, though police may look at it as part of the wider investigation.
There are fears over the content of the "mortal kombat" tablets after four other young people were taken to hospital after taking what was thought to be the same type of pill.
Graeme Pearson MSP, former head of the Scottish Drug Enforcement Agency, has called for anonymous phone lines to be installed in clubs for people to use to report concerns about drug use.
He said: "If you wanted to report a drugs issue to a club, who would you go to? A phoneline, where you can anonymously leave messages about drug issues within clubs, would help deal with this problem."