Is Reweave legal in Standard, Modern, and Commander?

Reweave is legal in: Modern, Legacy, Vintage, Commander.

Reweave

Q: What type of card is Reweave?

Reweave is an Instant — Arcane. Its oracle text reads: "Target permanent's controller sacrifices it. If the player does, they reveal cards from the top of their library until they reveal a permanent card that shares a card type with the sacrificed permanent, put that card onto the battlefield, then shuffle. Splice onto Arcane {2}{U}{U} (As you cast an Arcane spell, you may reveal this card from your hand and pay its splice cost. If you do, add this card's effects to that spell.)"

Instant — Arcane

Target permanent's controller sacrifices it. If the player does, they reveal cards from the top of their library until they reveal a permanent card that shares a card type with the sacrificed permanent, put that card onto the battlefield, then shuffle.

Splice onto Arcane (As you cast an Arcane spell, you may reveal this card from your hand and pay its splice cost. If you do, add this card's effects to that spell.)