The Arena is a small zone with a large arena inside. You can travel here from Lake Rathetear. This zone has historically been used for GM and Player Events, since it contains a PVP area.
There are no inherit dangers in The Arena. Note that you could be killed by another player who could find you in the PVP area and strike you down. Despite the rumors, this zone is very safe. The only area of the zone that is PvP is the Arena itself, which is a large ring shaped building in the middle of the zone. The opening to the Arena lies on the opposite side of the entrance, so it is impossible to accidentally step into the PvP area and be killed. Aside from that, there are virtually no other players in this zone at any given time, since there is practically nothing here.
The main benefit of this zone is its relative safety. There are no monsters, and most of the zone is not actually PvP. Characters can also be bound inside of this zone, which is a much needed feature for good races hunting the aviak town in The Southern Plains of Karana or in Lake Rathetear or the The Rathe Mountains. Nobody wants to run from Qeynos or Highpass Hold ...
The other benefit is that occasionally there are sanctioned battles in the Arena, with prizes given out to the champions. On non-PvP servers, it is one of the few places other than the cities individual arenas that allow PvP combat for those who wish to enjoy it.
Traveling To and From
The Arena can be reached by entering from Lake Rathetear. In the northwest corner of Lake Rathetear along its western border can be found a rather large grassy area inhabited by aviaks, north of the barbarian village. The tunnel to the Arena can be found there, flanked by two aviak lookout posts.
Items that can be Foraged
Garden Variety's Glorious Adventures and Travel Guide to The Arena
This area of Lake Rathetear has a large player-versus-player (PvP) arenea, useful for settling interpersonal disputes, blowing off steam, or all out guild wars. The Arena is a small zone with one prominent feature, the large PvP Arena in the middle of it. It is rumored that the gods themselves once did battle in this area, or possibly some ancient wizards, but the truth is unknown.