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To find the number of ways to arrange 5 identical red balls and 3 identical blue balls in a row, we can use the formula for permutations of multiset. The formula for arranging a total of \( n \) items where there are groups of identical items is given by:
\[ \frac{n!}{n_1! \times n_2! \times \cdots \times n_k!} \]
where \( n_1, n_2, \ldots, n_k \) are the sizes of the identical groups.
\[ \frac{8!}{5! \times 3!} = \frac{40320}{120 \times 6} = \frac{40320}{720} = 56 \]
Thus, the number of ways to arrange 5 identical red balls and 3 identical blue balls in a row is 56.