I would be really interested to see photos of this fish. As I said before, there seems to be no photos of Arapaimas in the net bigger than the 2,65m specimen from Thailand. Not from South America, not from Asia or from any zoos. So I find it rather hard to accept specimens in the 4m range if there is not a single actualy proof for one of at least 3m.
And the fish on the photo is by no means 3m.
I made an edited version to show the size-comparison better. The green line shows how tall the man is in this position, the violett line shows how tall it would be if he would stand upright. As it is not directly behind the fish, but bends forward, he would be most probably even taller than this.
The red line is the length of the arapaima. As you can see in direct comparison, the line of the fish is about 1,5m longer than the man´s height. So if this man is not 2m tall, the fish will hardly be in the 3m range. As south american men are in general not very tall, the fish can´t hardly be longer than 2,5m. Keep in mind that the man bends forward and looks even a bit smaller than he is, and the violett line is possibly too short. Furthermore it could be that he is only 1,6m, what would be no uncommon height for a south american man in the jungle. So 2,5m are even possibly too high, and a length of 2,30-2,40m are much more probable.