Try event delegation, since you are working with dynamic selector values
$(document).on('click', '.arrow-up', function() {
$('.portfolio-details').css('height',250);
$('.portfolio-details h2 span').removeClass('arrow-up');
$('.portfolio-details h2 span').addClass('arrow-down');
});
$(document).on('click', '.arrow-down', function() {
$('.portfolio-details').css('height',25);
$('.portfolio-details h2 span').addClass('arrow-up');
$('.portfolio-details h2 span').removeClass('arrow-down');
});