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I moderately disagree with this list...
10. Flaming arrow. Sure they're easy to access, but you know what else is equally as easy to access and deals more damage? FROSTBURN ARROWS.
9. Unholy Arrows. Eh, I guess this one is fine. It's low on the list anyway.
8. Jester's Arrows. I would have put them a little higher because of the trick with them that allows you to find sword shrines really easily.
7. Hellfire Arrows. Their damage quickly falls off due to piercing I-frames, so I would have put them a little lower.
6. Holy Arrows. I would have put them at number 2. These things are boss shredders and create a potent mix of projectiles which both pierce and don't pierce, making them STUPIDLY strong.
5. Ichor Arrows. I would have put them a little higher because you can use them to mark enemies and then switch to something like the Onyx Blaster with crystal bullets, allowing you to devastate your target.
4. Venom Arrows. You know what? This actually makes sense being this high. They cost almost nothing to obtain and are more powerful (with a better debuff and more velocity) than cursed arrows.
3. Cursed Arrows. Switch this with venom arrows. Cursed Arrows have lower availability (only half of worlds get them), lower velocity, lower knockback, and a worse debuff.
2. Chlorophyte Arrows. Doesn't deserve to even be on this list. They are extremely expensive, give enemies I-frames due to their piercing making them have very low dps, and are obtained way too late in the game to be useful.
1. Luminite Arrows. The only piercing arrow type to not give i-frames, on top of having the highest base damage out of all arrows in the game? These ones actually deserve to be up here. My only complaint with them is how irritating they are to get.
In short, my list is:
10. Endless Arrow Quiver. It's a must have for people who want to save their strong ammo for bosses.
9. Frostburn Arrows. For same reasons as flaming arrows, except they are better in every way.
8. Unholy Arrows. You can get them early and they have good piercing.
7. Hellfire Arrows. Only good at one point of the game.
6. Jester's Arrows. Good piercing, aren't affected by gravity, and your best hope for finding an Arkhalis.
5. Cursed Arrows. Good raw damage, and are a reliable upgrade to Frostburn Arrows.
4. Venom Arrows. They're just slightly better Cursed Arrows which you can get in Crimson Worlds.
3. Ichor Arrows. Turns your bows into the Golden Shower but with actual damage.
2. Holy Arrows. The things that let you kill the Destroyer in SECONDS and also your best hope for killing Duke Fishron.
1. Luminite Arrows. Nothing needs to be said.