#10 in Hartman's online Alapocas Guide. 

You can set up a top rope anchor off the bolts for Chipper or Spanky, but may need to use a directional off the large iron eyelet.  Alternatively, scramble up the slab on the left to the top of the ledge and set an anchor directly in the iron eyelet and use a directional from the Rambo bolts.

This route may not be tall, but it makes up for it in quality and variety.  Some classic arete side pull moves at the start, bomber foot placement just where you need them, and a sweet easy dyno, or reach if your tall, to get to the top ledge and pull up.  Although not particularly difficult, Arena Arete may be one of the most fun and interesting climbs at Alapocas.