Yes, once a month there is an arena for members of the Legend Club.
https://www.chess.com/article/view/chesscom-legends-arena-2022
Chess.com Legends Arena: All The Information
The Chess.com Legends Arena is a monthly event for players who have advanced all the way to the Legend League, the most elite League on Chess.com. Players compete in 3+0 blitz Arenas in three different rating categories for their piece of the $1,050 monthly prize fund. Events run on the last Friday of every month.
Players
Every player in the Legend League can participate in the Chess.com Legends Arena. To learn more about Leagues and how you can become a legendary player, go to our Players League page.
Format
- Players compete in monthly Arenas.
- The time control is 3+0.
- Arenas last for 90 minutes.
- The top three players in each blitz rating category (open, U1800, and U1200) win cash prizes.
- Rating categories are based on players' ratings after the Arena is over.
- Standard Chess.com arena tiebreaks apply.
Schedule
Chess.com Legends Arena is a monthly event that happens every last Friday of the month, starting at 9 a.m. PT/18:00 CET. Each Arena lasts for 90 minutes.
- May 27
- June 24
- July 29
- August 26
- September 30
- October 28
- November 25
- December 30
How To Play In The Event
If you are in the Legend League, you automatically become a member of the official Chess.com Legends Club. Once you're in the club, you'll see the Chess.com Legends Arena tournaments on our Tournaments page. Make sure you join the Arena within one hour before the event starts to play.
I'm in the legend league, and I see in so many forums, where people talk about the so called, "Legend Arena", but can someone PLEASE tell me what that is exactly?