Is Arc Blade legal in Standard, Modern, and Commander?

Arc Blade is legal in: Modern, Legacy, Vintage, Commander.

What type of card is Arc Blade?

Arc Blade is a Sorcery. Its oracle text reads: "Arc Blade deals 2 damage to any target. Exile Arc Blade with three time counters on it. Suspend 3—{2}{R} (Rather than cast this card from your hand, you may pay {2}{R} and exile it with three time counters on it. At the beginning of your upkeep, remove a time counter. When the last is removed, you may cast it without paying its mana cost.)"

Arc Blade

Sorcery

Arc Blade deals 2 damage to any target. Exile Arc Blade with three time counters on it.

Suspend 3— (Rather than cast this card from your hand, you may pay and exile it with three time counters on it. At the beginning of your upkeep, remove a time counter. When the last is removed, you may cast it without paying its mana cost.)