So, there are lots of overlapping and messy concepts here.
At the end of the day, if one seeks the truth, and then realizes that the good in oneself comes from God (thereby not taking credit for it) and that all the bad in oneself comes from himself (accepting responsibility for it), that is the esence of the balance.
If you know of certain abilities, skills, and talents that you have, and are confident, that's simply the truth, as you know it. If you know of your sins and weaknesses, and it's true, or you believe it to be true, then you're humble.
If someone is confident, but recognizes that those talents, skills, and knowledge come from God, then there's no arrogance. If someone is humble, then the self-deprecation is genuine and true, and not merely the product of a false humility (which is secretly pride masquerading as humility, since it's not true).
Self-deprecation can be a complex thing. If rooted in truth, it's just an expression of humility. If not, then it's generally a secret form of pride, either because one is secretly taking pride on how humble one is or else one is such a perfectionist regarding himself than any falling short of perfection causes the individual distress, leading to beating up on oneself.