MMA Junkie first reported the news.
Arce (16-4-0) is competing for the first time in over a year, as his last bout came at UFC 244 in November of 2019. Arce has won three of five in the UFC, with those wins coming over Dan Ige, Daniel Teymur and Julian Erosa. Arce has competed five times under the UFC banner and all of those encounters made it into the third round.
Valiev (16-2-0-1NC) is winless thus far in the UFC, fighting Trevin Jones to a no contest at UFC Fight Night: Munhoz vs. Edgar. Valiev won three of three when competing in the PFL, most notably defeating Bekbulat Magomedov at PFL 4. Valiev has competed 19 times as a professional MMA fighter and 11 of them went the distance.
UFC Fight Night: Overeem vs. Volkov takes place on Saturday, February 6 from a location to be announced with Alistair Overeem and Alexander Volkov headlining. Fightful is providing live coverage of the event, while broadcast plans have yet to be revealed.