Hi,
There isn't a set amount of fluid to put in the cup. The distance you place between the ball and the cup will affect this, slightly. Just put enough in (letting it settle) so that you have roughly a quarter to a third of the ball submerged. The arm should then have a lightly damped, but fluid feel to it when you move it around. Then you're ready to move the cup up or down in tiny increments to adjust damping. I'd use one, well balanced LP to do this.. set it and then forget it. There's no need to get too obsessive about it.
Mike