This is a large and impressive attraction, and you can make day tours – there is a lot to see here, and many more photos to take.
The trip from Arab Divers to Petra is about 200 km each way; this leaves plenty of time to experience all the "main" draws of the lost city in just a single day. To really explore Petra in detail, though, you might want to budget a bit more time (it’s well worth it).