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It's not the quickest method, but it's really functional and easy.
http://forums2.cubiccastles.com/index.php?p=/discussion/7751/full-guide-to-obtaining-free-cubits/p1
On the guide above, one of the point is market manipulation. You just have to keep an eye out for cheap and rare items for sale. And whenever it seems the most viable to sell it with a bit of an increase on the price, do it. Like for instance, you can buy event items during the event for cheaper than after the event ends. So, if you work your way to get an event item or buy it from someone during the event for cheap, you can sell the same item for far better price than you bought it for.
It mostly just depends on how you approach it but you have to start somewhere.
His Name is ^^Blue^^ now, a halo lover.. i seen his 7 halo collection xd
Since you have to do something to level up the pet, I'd say, mine to gain XP to level up your pet, and then also sell the resources you've gathered while leveling your pet. That way you have two income streams - selling resources and leveling pets. Focus on mining for ores as they are always in high demand (though you have to sell a lot to make income, but they are a stable item to sell consistently as there is constant demand for the item from the builders in the game). Also with mining, you'll get a cubit for every 20 or so blocks that you mine. And many of the daily quests are to mine things, so those days, you get an extra 50 cubits for completing the quest. Over time as you earn more cubits, you can branch out into sales of other things where you buy low and sell high.
Level 0 Meemew: 2,500c
Pet Treat: 20c each
It takes 3,000 xp to level up a pet once. This means you have to either mine or place 3,000 blocks.
Total blocks mined or placed to get it to level 49: 147,000
Now, if you have the perk Pet Pal 3, which makes the pet need 15% less xp to level up, it takes 2,550 blocks.
Now, with the perk, you would need a slightly less daunting 124,950 xp to level it to 49.
A realm/room has a build limit of 80 blocks, you can't go any higher. Therefore, if you are placing blocks to level it up, you would need a 40x40 room/realm with the perk. If you fill up a 40x40 all the way, it takes 128,000 blocks total. However, if you do not have the perk for a 15% bonus, you would need a 42x42 room/realm.
Leveling up pets can take a very long time, unless you are a dedicated builder/miner. I would not recommend using this as a way to produce income. It all depends on whether or not you want to do it, though :)
Bad if you get bored very easily