Arcbound Tracker will consider spells you cast before it was on the battlefield. For example, if Arcbound Tracker is the first spell you cast in a turn, each subsequent spell you cast after it's on the battlefield will cause the last ability to trigger.

If this creature gets enough -1/-1 counters put on it to cause it to go to the graveyard, modular will put a number of +1/+1 counters on the target artifact creature equal to the number of +1/+1 counters on this creature before it left the battlefield.