Arclight Phoenix was a popular deck in Modern for a long time until Faithless Looting was banned. After that, the deck decreased too much in power level to remain that good or popular. However, with Faithless Looting in Strixhaven as part of the Mystical Archive, the deck has become a staple in Historic. Martin wrote a deck guide about the straight Izzet version which you can read here. In this article, you’ll get my take, as well as a Historic Temur Phoenix version including some green mana for Abundant Harvest in the main deck, also from the Mystical Archive, and Klothys, God of Destiny in the sideboard.
This particular list I found on MTGMelee because it had been played by Andrew Baeckstrom in one of the Historic tournaments. I’ve been told that the list originated with Zan Syed, so hopefully I’ve properly given credit for the list.