how to play cards from exile mtg Is the Exiled card free or do I pay the mana cost? What happens to exiled cards

Specifically, Arthur pairs really well with Madam Mim Purple Dragon and various Merlin cards

It is almost always occupying the slot of a land

A good example is Obeka, Splitter of Secondss ability to add extra upkeep steps

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against Izzet Epiphany, it can save your own Elite Spellbinder from a removal spell

People are even OK paying 1UU for a counterspell that lets them scry