Special arithmetic series f (x) = ∞ n=0 c n x n , whose coefficients c n are normally given as certain binomial sums, satisfy 'self-replicating' functional identities. For example, the equationgenerates a modular form f (x) of weight 2 and level 7, when a related modular parametrization x = x(τ ) is properly chosen. In this note we investigate the potential of describing modular forms by such self-replicating equations as well as applications of the equations that do not make use of the modularity. In particular, we outline a new recipe of generating AGM-type algorithms for computing π and other related constants. Finally, we indicate some possibilities to extend the functional equations to a two-variable setting.