What do I do about an arrogant friend?

Okay my very good friend who ive known for a few years it starting to really get me mad, he is so arrogant and im just sick of it. He's an only child and I have 3 siblings and he is always saying how his life's perfect and how he doesnt have to do what i do, and he's always saying stuff like he's going to go to harvard and he just plainly looks down on me like he is always better at anything when I know for sure I could kick his *** at. Basically this is our friendship on the line and if he keeps it up its gonna go overboard really fast...