Combine warm water and salt and stir until dissolved. Slowly mix in cornmeal until a sticky dough is formed. Divide dough into 8 equal portions and form each portion into a small dough ball. Roll out each ball to form a 1/2-inch-thick disk.
In a medium skillet over medium heat, heat 1 tablespoon lard until it starts to move and pop. Add one dough disk. Cook until golden brown, 3 to 4 minutes per side. Remove arepa from pan and place on a paper towel. Repeat with remaining lard and dough.
Top each arepa with creme fraiche, egg, chives, shallot, and caviar and serve.