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On block explorers I see transactions and the program functions that have been called, but not the arguments in this function call. Are these traceable somewhere? Or are they only visible to the RPC provider and validators?

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If the program has an on-chain IDL, then most explorers will be able to decode the instruction arguments from the data and display them like you can see on this transaction: https://solscan.io/tx/SAUVTJSYP976VUJ2ooTfyQjndVCupvBD8xUNxUdZDJ7nUPZr5MvdBgmNLSVKe45FdRLKjk48Ru5PGMLwUned72Y

Otherwise the arguments will be in the encoded byte data for the instruction and not see in human readable representations.

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