There are 21 negative modifiers & 45 positive modifiers. I will list down all the modifiers below for you to look at. At the start of every stage. You will be inflicted with 1 negative modifier at random & you will have 3 random positive modifiers to choose from. You can only pick 1 positive modifier out of the 3 random ones. Whenever you complete a stage, the previous modifiers will carry forward until you complete the entire arena or get defeated. You can always pause and check the modifiers you have currently at any point of arena mode. When you start a new arena you may not get the same modifiers, as it is always random.

List of all negative modifiers
1. Armored soldiers – Soldiers can appear with a Locked guard bar
2. Hidden Enemies – Lackeys may appear out of destroyed Crates or Barrels
3. Call Reinforcements – Defeating a Captain will make an extra soldier appear
4. Lethal Captains – You take more damage when hit by a Captain
5. Dauntless Lackeys – Lackeys’s attacks are Unparryable
6. Lethal Grenadiers – You take more damage when hit by a Grenadier’s Bomb
7. Martyrdom – Defeated enemies may drop a lit bomb
8. Shameful Hits – Whenever you take a hit, you lose some Panache
9. Zaida’s Mysterious Trick – Lackeys are replaced by Zaida’s illusions
10. Performance Anxiety – Your Panache meter slowly decreases over time
11. Unyielding Enemies – Enemies are harder to Weaken
12. Adrenaline Rush – Soldiers can use Unparryable attacks
13. Tenacious Enemies – Enemies take less time to recover from being Weakened
14. Leg Ache – The Panache skill surprise Kick is now unavailable
15. Shoddy Sword Tip – The Panache skill Secret Attack is now unavailable
16. Tunnel Vision – The Panache skill Tornado Strike is now unavailable
17. Reinforced Plates – Captains resist Cannon fire
18. Henchperson Solidarity – Defeating a Lackeys heals other enemies near him
19. Duelist’s Scorn – Hits from Duelist also make you lose a lot of panache
20. Stun Grenades – Grenadier’s bombs also stun you
21. Stunning Blows – hits from Captains also briefly stun you


List of all positive modifiers
1. Bouncy Projectiles – Projectiles you throw can bounce between enemies
2. Heavy Pitchers – Pitchers are so heavy they stun enemies
3. Hidden Gifts – Projectiles may appear out of destroyed Crates or Barrels
4. Counter parries – Parrying deals increased guard damage to enemies
5. Stunning Kick – Kicks stun enemies after knocking them back
6. Revitalizing Parries – Heals you after X successful parries
7. Stain of Defeat – Slippery Areas appear under defeated enemies
8. Tricker’s Strike – Attacks against stunned enemies are always Critical Strikes
9. Dazzling Recovery – Whenever you heal, 2 nearby enemies become stunned
10. Retaliation – Successful parries make you next attack a Critical Strike
11. Mindblowing – Hitting a stunned enemies with a Projectile causes an explosion
12. Contraband – Defeated enemies may drop a random Projectile
13. Masterful Thrust – Guard damage from Critical Strikes is increased
14. Touche! – Defeating an enemy fills half a Panache chunk
15. Agile Riposte – Whenever you Dodge, you next attack will be a Critical Strike
16. Fancy Footwork – Dodgin an attack stuns the attack
17. Comeback Attack – Whenever you heal, your next attack will be a Critical Strike
18. Low Kicks – Successfully kicking an enemy will Weaken them
19. Heavy Crates – Crates are so heavy they Weaken enemies
20. Deep Puddles – Slippery Areas disappear after 3 enemies slip on them
21. Chaos Enjoyer – Explosions heal you 1HP and no longer damage you (except for Grenadier’s bombs)
22. Astonishing Panache – Whenever you fill a Panache chunk, stun 3 nearby enemies
23. Gusto – Whenever your attack removes HP from an enemy, you heal 1 HP
24. Fencer’s Dance – Weakened enemies fall to the ground when you dodge near them
25. Spectacular Flourish – Special skills can stun nearby enemies
26. Finish the Fallen – Attack a knocked down enemy instantly removes 1 HP from them
27. Very Vigorous – Whenever you heal, healing occurs twice
28. Empowered Kick – Defeating an enemy makes your nex kick unblockable
29. Panache is Life – Whenever you fill a Panache chunk, heal 2 HP
30. Cape of Wonders – Whenever you heal, a random Projectile appears
31. Land with your Head – Weakened enemies are instantly defeated if you push them down Stairs or Holes
32. Filled to the Brime – Projectiles hitting enemies create a Slippery Area
33. Smuggled Wine – Stunning an enemy causes a Slippery Area to appear under their feet
34. Stunning Parries – Parry an attack to stun the attack
35. Stunning Strikes – Attacks that remove HP from enemies also Stun them
36. Weakening Strikes – Attacks that remove HP from enemies also Weaken them
37. Flamenco of Steel – Heal for every 2 attacks you dodge
38. Lick THESE Boots! – Heal whenever you successfully kick an enemy
39. Energizing Flourish – Increased healing from Special Skills
40. Secret Win Stashes – Destroying Crates or Barrels creates Slippery Areas
41. Never Gets Old – Heal whenever you hit an enemy with a Projectile
42. Bursting with Pride – Whenever you cause an explosion, you gain some Panache
43. Black Powder Crates – Crates explode when you kicked into a stunned enemy
44. Astounding Flourish – Special skills Weaken the enemies they hit
45. Final Flourish – Special skills instantly defeat Weakened Soldiers they hit

Tier-List
S Tier (Overpowered): (Fancy Footwork) (Land with your Head) (Flamenco of Steel)
A Tier (Strong): (Touche!) (Masterful Thrust) (Weakening Strikes) (Lick THESE Boots!) (Bouncy projectiles) (Low kicks) (Revitalizing Parries) (Finish the Fallen) (Contraband)
B Tier (Good): (Heavy Pitchers) (Hidden Gifts) (Retaliation) (Agile Riposte) (Heavy Crates) (Gusto) (Fencer’s Dance) (Very Vigorous) (Cape of Wonders) (Smuggled Wine) (Energizing Flourish) (Secret Wine Stashes) (Never Gets Old) (Bursting with Pride) (Astounding Flourish) (Final Flourish) (Panache is Life) (Stunning Parries) (Counter parries) (Filled to the Brim) (Stain of Defeat) (Astonishing Panache) (Comeback Attack)
C Tier (Average): (Tricker’s Strike) (Empowered Kick) (Chaos Enjoyer) (Stunning Strikes) (Spectacular Flourish) (Dazzling Recovery) (Deep Puddles) (Mindblowing)
D Tier (Poor): (Stunning Kick) (Black Powder Crates)

What are some of the judging criteria?

• The strength of the modifier itself
  
• Synergy with other modifiers are considered
  
• If it counters the negative modifiers
  
• If certain negative modifiers are in play. How badly is the modifier affected?

Note: Not arranged in any particular order within its tier. The Tier-List is pretty much finalized.

There are modifiers that have confusing/inaccurate description OR they dont do what is described in their modifier descriptions. Some modifiers have hidden effects or interactions not mentioned. I thought I should clarify the actual effects of the modifier.

Heavy Pitchers – Pitchers are so heavy they stun enemies (Loses critical hit debuff on enemies)
Stunning Kick – Kicks stun enemies after knocking them back (Does not stack with Low Kick)
Revitalizing Parries – Heals you after X successful parries (Each successful parry actually heals you)
Dazzling Recovery – Whenever you heal, 2 nearby enemies become stunned(This actually only stuns 1 random enemy, even if you are full health you can still heal and trigger the effect. Doesnt actually stun the nearby enemy. Stuns a random enemy regardless of distance.)
Contraband – Defeated enemies may drop a random Projectile (Every enemy defeated drops something)
Astonishing Panache – Whenever you fill a Panache chunk, stun 3 nearby enemies(3 random enemy gets stunned. The nearby description of the modifier is a lie!)
Spectacular Flourish – Special skills can stun nearby enemies(Stuns only up to 2 random enemy. Again doesnt stun nearby enemy, randomly selects 2 enemy to stun.)
Stunning Strikes – Attacks that remove HP from enemies also Stun them (does stack with weakening strikes)
Energizing Flourish – Increased healing from Special Skills (Usually your special skill heals 1hp, this increases it by 1hp thus you heal a total of 2 hp.)
Final Flourish – Special skills instantly defeat Weakened Soldiers they hit (Affects both Soldiers & elite guards. Surprise kick will instant kill these enemies if they are weakened by the kick.)
Finish the Fallen – Attack a knocked down enemy instantly removes 1 HP from them (Depending on the way the enemies fall the effects of finish the fallen won't trigger. e.g: If an enemy slip on a "slippery area" the purple liquid. Despite the enemy knocked down, Finish the fallen won't trigger.)

When you spawn into arena. There are many possible variations you can get. You may spawn in on the same map but the enemy encounter is different. The maps you get spawned into are random. The enemy encounter is tied to what map you spawned into. I am unsure if I have seen all possible variations but I have recorded down what encounters I have seen. I am only 1 person so I am prone to making mistakes or overlooking something. If the information provided is wrong please kindly point it out so I may correct it.

I heavily apologise. I just can't get Steam Guide formatting to behave and work properly for me. I have it here on my Google Drive. The Google Docs file have a screenshot of the arena maps & lists all enemy encounters tied to it.
This is the link: https://docs.google.com/document/d/1lB-sbol9YAbS67pa0fJjUJS7lqfxq-_W/edit?usp=sharing&ouid=100303189202759675405&rtpof=true&sd=true

These are some general tips & basic strategy to help you. You probably completed story mode so you should be familiar with the game's combat.

• Always keep the modifiers at the back of your mind during fights
  
• You can always check the modifiers at any point if you forget.
  
• Make full use of special skills (Panache skills) during the stage as you won’t retain special skill meter (Panache meter) for the next stage
  
• You can check the map stages in the guide to see the enemy encounter & plan accordingly.
  
• Enemy priority is important. It will depend on your enemy encounter. Generally, take out the weaker enemies like lackeys & grenadiers to thin the wave. Then, work your way up to the more difficult enemies.
  
• Sometimes you want to eliminate any enemy you can while prioritizing the most dangerous enemy in the encounter like Captain/Duelist
  
• Make sure to fully use your environment in the map. Once you move to the next area. There will be a fresh set of interact-able objects for you to use. Don't be afraid to use your environment.
  
• Isolate & take out as many enemies you can. Quickly lower their numbers.
  
• Don’t waste your time poking the enemy’s health. Not taking off a health state/finishing them off.They will regenerate health if you stop attacking for awhile.
  
• Weakened enemies cannot regenerate health however they do eventually recover from being weakened. When they stop being weakened, they regenerate health.
  
• You can hit weakened enemies to reset their timer to delay them from recovering from it.

I made a YouTube video version of the guide.
This is the link: https://youtu.be/sYLjYbtxmWA?si=i2IeBYrr2SCCmiT2
I have a video of all arena mode done with no damage taken. No Land with your Head & No Fancy Footwork modifier was in play for any of the fights. Hopefully watching the video will help you get through arena mode & get some of the arena related achivements. You can of course pick those OP modifiers but I just do them without it. Just to demonstrate you don't need it to succeed.

The video has the timestamps for each difficulty mode. You can try right clicking and copying video URL and pasting it in your browser to play the video if Steam doesnt allow you to play the video here:
https://youtu.be/4knFnowny-g?si=4MeRUHtuJkxJG4tW

I have also made individual boss guides on YouTube if you are having trouble with the boss stages.
https://youtu.be/ujxiEJ-ZM-M?si=SHhKzKeVuStOpLgC
https://youtu.be/XpX8CrIQJgs?si=PhroRFaYS3fVYQME
https://youtu.be/Yjl1u8uxlek?si=RjyNzIxSjPtZGKvc
If you want quickly kill El Vigilante in Cadet mode or cheese him you can watch this video.
https://www.youtube.com/watch?v=12LFmicON48

If you having trouble with the final stage of Arena Legend mode, I do have a video on how to tackle that stage. Without the S-Tier modifiers.
https://youtu.be/le6CYPTddKg

Spoiler warning: If you haven't reach the boss stage of legend mode and you don't want to be spoiled. DON'T hover on the censor bar.
The final arena for legend mode have you fighting 3 bosses at once.
General Strategy
1. Dispatch all minions before dealing with the bosses
2. Weaken the boss you wish to eliminate first
3. Recommended boss to take out first is Count Duke
4. Once Count Duke is taken care of. Pick either Zaida or El Vigilante to eliminate next. This will depend on which boss is more injured or who you are comfortable fighting next
5. Weaken the 2nd boss to be eliminated and go to work
6. Once two bosses have been eliminated. Now you can 1v1 the remaining boss no problem.

Reasonings:

• Clearing the minions helps build panache & thin the numbers making things more manageable.The less enemies around the less likely you are going to get hit & die.

• Panache allows you to heal & gain access to powerful abilities to aid you in combat. There is however a small chance to get negative modifiers which makes some or all your panache skills(Special Skills) unavailable.

• Count Duke is the recommended boss to eliminate first as he is the fastest to dispatch. His shield mode (blue guard bar), which is his 1st and 3rd health state. Once he is guard broken (weakened). He is completely vulnerable to being slashed away. Once he enters rage mode (2nd & 4th health state), he is faster at chasing you down. This helps you isolate him from the rest of the enemies faster by getting him to chase you.

• Weakened enemies can't regenerate health so you keep the boss you wish to kill first weakened for that reason. On top of that you don't have to worry about doing the proper defense for the yellow guard bar. You can hit & run without worrying about the boss recovering health.

• Weakened enemies can eventually recover from being weakened. You still have to keep pressure on the weakened boss. Hitting them just once resets their recovery timer.