Preheat oven to 250 degrees Fahrenheit (120 degrees Celsius).

Spread pistachios on a baking sheet and toast for 10 minutes.

Meanwhile, mix sugar, cinnamon, salt, cayenne, and paprika in a saucepan with the water. Heat, stirring occasionally, until it boils and turns into thick syrup. (To test doneness, drop a bit of the syrup into cold water. It should form a soft ball that folds when removed.)

Remove from heat. Coat toasted pistachios with the syrup, stirring until it starts to grain and clump. (It’ll look like wet sand.)

Spread nuts on Gefen Parchment Paper and let cool fully.