Preheat oven to 350 degrees Fahrenheit.
Heat a 12-inch nonstick or cast iron skillet over medium-high heat.
While the pan heats up, make the spice mixture. In a small bowl, combine the paprika, salt, pepper, cayenne, oregano, onion powder, and garlic powder. Mix with a spoon.
Dry the swordfish steaks with a paper towel, then sprinkle ¼ teaspoon of the spice mixture on top of each steak, coating the entire surface.
Add the olive oil to the hot skillet. Carefully place the steaks into the skillet, seasoned side down.
Let the steaks sear for 5 minutes. Do not move them.
Use a thin-set spatula to carefully turn the steaks over. Immediately place the skillet into the oven and bake for 8 to 10 minutes. When it's opaque and flakes easily, it's done!
While the swordfish cooks, make the Cajun butter. In a small bowl, mash the butter with the remaining spice mixture, lemon zest, and juice.
Use an oven mitt to carefully remove the hot pan from the oven. Do not touch the handle with your bare hands!
Use a thin set spatula to transfer the swordfish steaks to serving plates. Top each steak with two teaspoons of Cajun butter. Enjoy!