Edit: It turns out that things generally (not just array/ref operations) slow down the more arrays have been created, so I guess this might just be meas
You are paying linear overhead every minor GC per mutable array that remains live and gets promoted to the old generation. This is because GHC unconditionally places all mutable arrays on the mutable list and traverses the entire list every minor GC. See https://ghc.haskell.org/trac/ghc/ticket/7662 for more information, as well as my mailing list response to your question: http://www.haskell.org/pipermail/glasgow-haskell-users/2014-May/024976.html