Chain Dispel is a Normal Trap Card.
Trap Cards are normally Set first and can be activated on a later turn, often in response to an action.
On the current TCG and OCG Forbidden & Limited lists tracked here, Chain Dispel is Unlimited.
YGOPRODeck lists Chain Dispel for these formats: Duel Links, Common Charity, TCG, OCG, Master Duel.
A listed print of Chain Dispel appears in 2015 Mega-Tin Mega Pack (MP15-EN118) at Common rarity.
Among markets shown on this page, the lowest listed snapshot for Chain Dispel is about $0.06 on Cardmarket (prices change frequently).
