What happened: Luis Arraez is playing on a one-year, $12 million deal, with the Tampa Bay Rays, Los Angeles Dodgers and New York Yankees listed as potential destinations. Freddy Peralta could draw interest from the Dodgers, Milwaukee Brewers, Houston Astros and Philadelphia Phillies despite his downturn with the New York Mets.

Why it matters: The Aug. 3 deadline gives clubs one week to convert expiring contracts into prospects or reinforce contending rosters. Arraez's contact hitting offers immediate lineup help, while Peralta's $8 million salary could preserve demand for the starter.

What to watch: Watch whether the New York Giants move Arraez or Ray and whether the Mets find a market for Peralta before Aug. 3.