This article introduces a technique to accurately perform static prediction of resource usage for ML-like functional programs with references and arrays. Previous research successfully integrated the potential method of amortized analysis with a standard type system to automatically derive parametric resource bounds. The analysis is naturally compositional and the resource consumption of functions can be abstracted using potential-annotated types. The soundness theorem of the analysis guarantees that the derived bounds are correct with respect to the resource usage defined by a cost semantics. Type inference can be efficiently automated using off-the-shelf LP solvers, even if the derived bounds are polynomials. However, side effects and al...