I saw some pellets that are specifically made for bringing out red in fish can't remember the brand though. Krill should also help. I have a leichartdi arowana and I feed it krill and it has brighter red spots than any picture I've seen. Change the diet and see if that doesn't help. I don't think keeping it in a smaller tank would have too much to do with color. Possible background, lighting and gravel would have a more profound effect but I'm not an arapaima expert and the arowana is the closest example i have lol