Put a group together of heroes and henchies. One of the heroes should have Frozen Soil as all of the convicted criminals you will fight in the arena have Rez Sigs.
Begin in Breaker Hollow and exit into the Archipelagos. Flag your group to the first group of enemies you can see while you get the Luxon Blessing. Run down the right side of the map into the arena. Flag your heroes to the arena floor while you go get the Quest from the Arena Master. Quite often the heros/henches have killed everybody by the time you get back to help in the fight. Accept the reward from the Arena Master. Pick up any loot. Map back to Breaker Hollow and repeat.
A typical run takes just under 4 minutes and you get around 500 faction. So about 125 faction per minute...
Song - Nemo by Nightwish
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